New Report Reveals Widespread Data Distrust Is Undermining AI Ambitions

Stibo Systems examine finds 91% of enterprise leaders acknowledge the significance of buyer knowledge administration, but solely 31% totally belief their knowledge

A brand new examine from Stibo Systems, a world chief in grasp knowledge administration (MDM) options, reveals that regardless of aggressive investments in AI, most organizations are being held again by fragmented and unreliable buyer knowledge.

The report, Blind Spots and Broken Promises: The Real Cost of Fragmented Customer Data, surveyed 500 U.S. enterprise leaders throughout manufacturing, retail, shopper packaged items (CPG), monetary providers and different industries. The report discovered that 91% of executives charge funding in improved buyer knowledge administration as “very” or “extraordinarily” essential, but solely 31% totally belief the info that drives their selections. More than half (55%) say poor knowledge high quality has already led to misplaced income, whereas 82% report dropping over $100,000 yearly because of inaccurate buyer data.

“There’s a priority brewing – that pouring cash into flashy AI merchandise to create smarter buyer experiences might not be sufficient,” stated Adrian Carr, CEO of Stibo Systems. “We’re seeing international enterprises constructing homes of playing cards on shaky knowledge foundations, amplifying errors when that knowledge is feeding costly AI instruments. If your knowledge isn’t 100% reliable, then it’s 100% not prepared.” 

Other key findings:

• Despite most organizations claiming to have centralized knowledge processes, the Stibo Systems examine discovered that 76% nonetheless depend on “shadow databases” corresponding to off-system spreadsheets to handle buyer data. The result’s a cycle of guide rework, inefficiency, and distrust.
• Six in ten leaders say their groups spend greater than six hours every week cleansing and reconciling buyer knowledge as a substitute of specializing in strategic or collaborative duties.
• Poor knowledge governance impacts AI readiness. Nearly 4 in 5 (79%) respondents consider they’re prepared for customer-facing AI, however 28% cite knowledge high quality as a barrier to adoption.

“When fed with reliable knowledge, AI insights can create high-value context companies can use to get to the center of what clients actually need, even the feelings surrounding services,” Carr stated. “As all the pieces turns into extra nuanced, the organizations getting their knowledge in good order now would be the ones defining buyer belief.”  

Learn extra from the total report, “Blind Spots and Broken Promises: The Real Cost of Fragmented Customer Data.”

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