The latest research issued by Veritas Technologies, the world leader in the corporate data protection and software-based storage market, revealed that companies operating in the UAE are seeking to enhance their benefits. Competitiveness within the contemporary digital economy scene, however, the weaknesses that companies face in the effective management of daily operations can cause loss of productivity and waste of many business opportunities.

According to the study, prepared by Veritas' subsidiary Vanson Born, providing employees with effective access to data contributes to providing them with the insights to make better, more informed decisions. < / p> This questionnaire covered 1,500 data managers and decision makers in the information technology sector within 15 different countries, including 100 senior employees from the United Arab Emirates. The main survey results indicated that only (27%) of the UAE respondents stated that their companies enjoy fully integrated data, which is a figure close to the global average rate of (29%). While companies operating in Germany recorded the highest levels of data integration among their counterparts at a rate of (46%), followed by the United States of America (44%) and Brazil with (36%).

More than two thirds of the participants from the UAE (68%) indicated that wasting more than an hour of working time per day due to the difficulty in finding data, while declaring (30% ) Of them to the fact that the time lost in finding data does not exceed one hour. Consequently, business leaders in the UAE estimate that this process causes a decrease in efficiency of (17%), a figure that slightly exceeds the global average. They also pointed out that losses exceeding $ 2.1 million annually are due to challenges in the daily management of data, equal to the global average rate.

On the other hand, companies that invest in areas of effective day-to-day data management have reported cost savings, along with better employee productivity rates. On the average, (70%) of these companies indicated their success in reducing costs, while (69%) of them indicated the role of this process in enabling employees to achieve higher productivity.

In addition to the productivity challenges, poor data management can have very negative impacts on corporate performance. Most of the global companies participating in the questionnaire (97%) indicated that they lost a number of valuable business opportunities as a result of ineffective levels of data management. In fact, more than a third of respondents (35%) indicated that they lost a number of new opportunities to generate revenue, while (39%) stated that the challenges of the data caused an increase in operating costs.

Disturbingly, participants estimated that their companies incurred losses in excess of $ 2 million annually due to the challenges they face in managing their data.

Besides, companies' failure to address their data management problems ...