Concerns about the trustworthiness of internal data exist in nearly all organizations globally according to a new report. In “The Real Value of Technology Connectivity” report by TeamViewer, 99% of business leaders pointed to factors undermining trust in internal data, citing multiple versions of the truth (38%), conflicting data management practices (32%) and too many instances of poor hardware reliability (31%) as top reasons for mistrust.
Interestingly, this mistrust of internal data varies across company size. It is more likely to be driven by lack of data literacy in smaller organizations. Forty percent of respondents working for companies generating $10 million – $49.99 million in yearly revenue report a lack of data literacy among employees, compared to 21% of companies generating $10 billion and above.
The global research study also found that only 5% of business leaders believe they have seamless technology connectivity across their organizations, identifying a huge opportunity to close the connectivity gap to not only gain internal trust in data, but to also enhance nearly all areas of the business from innovation to HR.
When asked how seamless technology connectivity could help their organization:
- 80% of respondents state is allows for better customer interactions and increases customer satisfaction
- 81% say it enables better innovation
- 82% believe it allows more time for considered decision making
- 86% consider it an important aspect of working at their company increasing talent retention
Technology Connectivity Equals Industry Leadership & Cyber Defense
The research also uncovered a correlation between excellent connectivity and industry leadership, with 33% of business leaders at organizations with excellent technology connectivity saying their financial performance is among the leaders in their industry. Just 16% of business leaders with good connectivity say the same. In addition, 61% say that excellent technology connectivity gives them a competitive edge.
Further, 34% of businesses with excellent connectivity say their operational performance is on par with industry leaders but only 19% with good connectivity say this is the case. Seamless technology connectivity, the extent to which staff can operate and connect without interruptions, and what all businesses should be aiming for, also increases resilience and supports risk management. In particular, better connectivity helps organizations to withstand the growing threat of cyberattacks. Thirty-eight percent of those with excellent connectivity, those one step below achieving seamless connectivity, are among the leaders in their sector for cybersecurity performance, compared to 22% of those with good connectivity.
What Is Holding Organizations Back?
Organizations with gaps in connectivity (those who say they have good connectivity but not excellent or seamless) are more likely to be held back by differences between departments within their organization (30%) and the inability to show the ROI of tech connectivity (27%). Whereas those who say they have excellent connectivity are most likely to be held back by concerns about cybersecurity (24%). So, cybersecurity is both a benefit and a hindrance to better connectivity.
A company’s ability to connect to any device, application and system in its infrastructure, and to make use of existing data, has an outsized influence on performance. Whether it is smarter logistics operations or remote technical guidance, access to knowledge from any device, at any time, helps people work smarter and reduces the mistrust that there are multiple versions of truth in data.
