76% Struggle to Drive Business Priorities with Data: Salesforce

Salesforce (NYSE: CRM), the global leader in CRM, today released its State of Data and Analytics report with key trends from over 10,000 analytics, IT, and business leaders across 18 countries, including 300 from India. 

The report highlights trends impacting data leaders including strategies used to navigate rapid advancements in artificial intelligence (AI), challenges organizations face in realizing the full potential of their data, and tactics analytics and IT leaders employ to manage increasingly extensive and complex data.

Key insights of this year’s State of Data and Analytics report include:

• AI advancements intensify demand for trusted, secure data. Advances in AI are fast-moving, and companies are eager to profit from new iterations like generative AI. 76% of Indian business leaders are worried about missing out on its benefits. This puts pressure on data management teams to power algorithms with high-quality data. 92% of Indian analytics and IT leaders say advances in AI make data management a high priority. 
• Security threats and lack of trust hinder data potential. The path to unlocking data’s potential is winding. Only 55% of Indian business leaders are completely confident in their data accuracy. The biggest hurdle for Indian business leaders is security threats, while analytics and IT leaders cite security threats as their number one data challenge. 
• Leaders leverage data culture and data governance to reach goals. To maximize data value and trust, analytics and IT leaders lean on data governance. 94% of Indian  analytics and IT leaders use data governance to ensure and certify baseline data quality. 84% of Indian analytics and IT leaders are investing more in data training in the next year to strengthen internal data culture. 

Comments on the news:

Arun Kumar Parameswaran, MD - Sales, Salesforce India, said, “Generative AI is intensifying the need for real-time personalization and increased business efficiencies, and analytics. IT leaders are racing to fortify their data foundations which include, data quality, stronger security, and AI-readiness to harness the full power of AI. In the face of increased data volumes and complexity, data harmonization will be a key priority for business leaders in order to better extract value from their data sources and effectively leverage AI. We look forward to democratizing and harnessing the full power of AI for businesses across industries, fueled by accurate, comprehensive data.”