Only 23 per cent of business decision-makers closely align strategy to data, according to research.
A study of 600 UK organisations by data technology firm Rosslyn Analytics found fewer than half of business leaders thought data was a strategic asset.
The biggest barriers to using data were cited as too many sources and different types of data by 43 per cent of respondents, followed by poor quality information.
Only 40 per cent of respondents believed their organisation effectively exploited internal data to gain competitive advantage, the research found.
Rosslyn Analytics has also published Data: The Art of the Possible, a guide to creating value from multiple data sources.
Charlie Clark, chief executive at Rosslyn, said: “Our research shows that only 30 per cent of business leaders explore data with a set question. Understanding data is key to achieving data-business alignment, where data not only informs business strategy but the business strategy also dictates the type of data owned by the organisation.”