65% of Aust firms lack integrated data management

Nearly two-thirds of Australian businesses lack fully integrated data management systems, according to a new survey from TIBCO Software.

The survey shows that 85% of organisations use multiple systems to capture and manage data, including customer relationship management (CRM), invoices and supply chain management.

But these systems are fully integrated for only around 35% of businesses, and 17% of businesses report no integration between systems at all.

As a result, 62.5% of Australian companies have duplicate or disparate customer information in their systems, the survey suggests. And 28% of companies have been unable to build a 360° view of the customer.

“Data integration and quality are key to customer engagement,” TIBCO regional CEO Paul Scott-Murphy commented. “Organisations need to think carefully about the long-term effects of their data management strategy - or lack thereof.”

The survey also shows that two-thirds of companies are using real-time data to personalise promotions to the individual customer, but one-third are not harnessing real-time data adequately.

Around 11.5% can’t see real-time data changes, and a further 27.5% can see changes but lack the capacity to analyse or take action based on the real-time data.

“While some organisations analyse their data effectively, it often requires the input of a specialised data analyst and that can take time, particularly if the data is not already integrated,” Murphy said.

The survey polled 200 senior IT, marketing and finance decision-makers from various organisations and industries.

Image courtesy of Liz Henry under CC