Survey reveals worrying differences in how data is perceived, used and valued by IT and business leaders.
IT and business leaders agree that appropriate and effective technology is a top priority for making better use of data within organisations, according to a Rosslyn Analytics study.
However, the C-suite disagree when it comes to data access, with 56% of CIOs and senior IT managers believing data is inaccessible by business decision-makers, compared to 36% of business leaders.
The disagreements did not stop there, with 46% of the C-Suite and senior management stating that the data given to the company is of poor quality, compared to 36% of business leaders in the same category.
The survey conducted by OnePoll last month, also found that 71% of corporate leaders recognise the importance of data to their companies, despite only 11% having actually generated financial value from data.
Of the 500 C-levels surveyed,13% of business leaders believe that big data will become a key basis of competition and growth.
The report also unveiled that for data strategies over the next two years, IT leaders want to prioritise developing centres of analytics, whilst business leaders prefer to prioritise data stores for decision-makers to access and use on-demand.
Charles Clark, CEO of Rosslyn Analytics said: "Rosslyn Analytics’ survey reveals that the root cause of poor data monetisation is the lack of business and IT alignment and, specifically, the need for business leaders to develop a data strategy that defines technology purchases – not the other way around, which is common in most companies.
"Companies that are able to successfully monetise the value of data do so because their business and IT leaders have found a common strategy which accommodates the technology requirements of IT departments and the business need for data delivered and consumed on-demand."