Wednesday, August 12, 2020

How’s your data handling, boss? Execs are at greater risk of sacking for doing it badly, survey shows

Research from data visualisation company Zegami reveals the personal risk of handling data poorly is set to become higher for senior leaders within organisations.

The company commissioned research with fund managers, and 71% said they believe the number of CEOs, FDs or very senior executives being fired as a result of poor data storage and management will increase over the next three years.   Furthermore, companies who manage, analyse or store data poorly will be far more at risk of potentially significant fines in the coming years. 90% of fund managers interviewed see the number of companies being fined for this increasing, with 23% predicting a ‘dramatic rise’ here.

How organisations manage and use their data is becoming increasingly correlated to how they perform, says Zegami. Over the next three years, 62% of fund managers believe this correlation will increase.  This helps explain why 61% of respondents interviewed now believe that when analysing companies, fund managers are placing a greater focus on how they manage and store data.

Roger Noble, founder and Chief Technology Officer at Zegami, said: “How organisations store, manage and analyse their data is becoming ever more central to their performance and how they are viewed by fund managers. Our new research clearly suggests that those not placing enough focus on the security and quality of their data not only face a growing threat of legal action or even losing their jobs. It’s organisations like this that will be increasingly left behind.”

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