Many organizations are struggling to cope with the influx of information and are failing to make the most of their data management systems, it has been claimed.
New research by Vanson Bourne, on behalf of Oracle, revealed that two-thirds of companies are worried about their ability to get the best value out of their data asset.
Although 88 per cent of the organizations polled described their data management systems as a strategic asset, 66 per cent were worried about the ability to get "actionable intelligence" from it.
A further 75 per cent admitted to having concerns about the quality and accuracy of the information held in data management systems.
Speaking to Cbronline.com, Chris Downs, founder of levelbusiness.com, said that companies need to stop looking at data management as a problem.
"Businesses often look at data as a burden or a challenge, which then becomes a liability. If you can get value out of it, it's an asset," he said.
Writing for Waterstechnology.com, Ron Troy, former associate director of market data at WestLB in New York, agreed that data management can be a struggle in the current climate.
Posted by Rachel Wheeler