Report: 75% of data teams say that outdated migration can cost orgs up to $43M

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With the acceleration of digital transformation efforts and cloud migration during the pandemic, a recent survey from Matillion and Vanson Bourne looked to uncover the root cause of why enterprise organizations struggle to keep up with the complexity and volume of data. Results revealed that 75% of data teams believe that outdated migration and maintenance processes are costing their organizations time, productivity, and money — potentially at an annual price tag of up to $43.5 million. 

As companies navigate their new normal in a hybrid environment, they must harness the power of their data and support those responsible for managing it. This will allow organizations to get to the data-driven insights needed to push forward into the future and away from outdated processes. 

But it’s not just the growth in data volume. Certain data types are being left behind, and data teams have new (and growing) blind spots, which is leading to significant information gaps within organizations. Nearly 40% of data teams surveyed admit they don’t fully understand how data is being used in their organizations, and 44% worry about the challenge of dealing with the diversity in the types of data they work with. Cloud data (32%) and IoT data (31%) were found as the most commonly unavailable or unsuitable sources for business intelligence and analytics. These newfound information gaps and blind spots hinder an organization’s ability to scale and limits its critical thinking. To elevate the business and propel it into the future, organizations must overcome these challenges and solve growing information gaps among data teams.

This survey was conducted in partnership with Vanson Bourne throughout July and August 2021. Matillion surveyed 450 data professionals who work full-time at a range of public and private sector enterprises (more than 500 employees or upwards of $250 million in revenue) and are based in the U.K. (150) or U.S. (300). Respondents included data decision-maker and data user titles. The interviews were conducted online and were undertaken using a rigorous multilevel screening process to ensure that only suitable candidates were given the opportunity to participate. Unless otherwise indicated, the results discussed are based on the total sample.

Read the full report by Matillion and Vanson Bourne.

Originally appeared on: TheSpuzz