Skip to main content

Businesses are losing billions due to 'disconnected data'

(Image credit: Image Credit: Flickr / janneke staaks)

Businesses in the US and UK are losing $140 billion every year in wasted time, resources, effort duplication and missed opportunities – all due to disconnected data.

This is according to a new report by SnapLogic (opens in new tab), which also says the negative impact is more than just financial. The company says almost half of respondents (47 per cent) cited inability to innovate as one of the bigger problems. The ability to engage, support and meet the needs of customers (46 per cent) is also negatively impacted.

Another piece of the puzzle seems to be aging technology. More than four in ten (41 per cent) said their critical business data is ‘trapped in legacy systems’ and cannot be accessed via cloud, or linked to cloud services. More than three quarters (76 per cent) said they have at least some data trapped this way.

“The data economy is in full swing with every department across the enterprise relying on data to get their jobs done effectively, whether Marketing, HR, IT, or Sales,” commented Gaurav Dhillon, founder and CEO of SnapLogic. 

“And yet we continue to see the same issues around legacy technology, disconnected systems, and trapped data. This is hampering collaboration, decision-making and timely business outcomes, and with the cost reaching into the billions, we need to act.”

Collaboration (44 per cent) is also being perceived as challenging, the report states. Almost a third (30 per cent) also found that the different departments are slowing collaboration down by being too protective of their data.

Image Credit: Flickr / janneke staaks

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.