However, building a data-centric culture can only succeed when executives at the highest levels of an organization are committed to unlocking data’s value. Companies fail to become data-driven for various reasons. Data analysis skills are one of the top three missing technical skills, according to the report. According to a report from SHRM, 75% of survey respondents say that the global skills shortage has made recruiting qualified candidates more difficult. Difficulty in finding skilled employees.PwC estimates that organizations can make decisions five times faster with an effective data strategy that ensures the data is protected, of high quality and value, and usable for business purposes. Absence of an effective data strategy. According to Gartner, organizations lose about $15 million a year due to poor data quality issues, making the business case for data quality improvement a high priority. Causes of poor data quality include system problems, human error, and outdated data. To maximize opportunities from data, organizations must employ data analysis techniques and make the business case for a data analysis strategy that can help overcome the following challenges: Accenture reports that only 32% of companies can currently extract business value from their data.
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