With businesses still reeling from the disruption to their operations and supply chains the pandemic caused, Dun & Bradstreet’s new research reveals that over half (52%) of European businesses don’t think they will survive without relevant, up-to-date and compliant business data.
The findings, published in Dun & Bradstreet’s ‘The Future of Data’ report, revealed that two-thirds of business leaders agree that data is the most useful tool for their organisation to identify new markets to work with (64%) and is crucial for targeting new customers (62%).
Furthermore, with the pandemic continuing to disrupt supply chains globally, six in ten businesses surveyed are using data to assess risk (65%) and monitor procurement and supply (62%).
Even when they do have a data strategy in place, businesses are struggling with effective data management (25%) and combatting fraud (22%). As a result, over a quarter (27%) of projects fail to meet business requirements on average.
Dr. Anthony Scriffignano, Senior Vice President and Chief Data Scientist for Dun & Bradstreet, is an internationally recognized thought leader in the data science space. He leads a team of data scientists focused on advancing Dun & Bradstreet’s core capabilities and IP globally. With extensive background in advanced algorithms and linguistics, he holds multiple patents and presents globally on data and technology trends, multilingual challenges in business identity, and artificial intelligence.