Over half of Australia’s business community don’t have adequate integration of data management, according to the Tibco software data integration index.
The infrastructure and business software provider is urging Australian companies to better harness data responsibly.
Tibco software regional chief technology officer, Paul Scott-Murphy, said data integration and quality are key to customer engagement and companies need to consider the long-term impact of data management strategies.
"Every move a customer makes online leaves a digital trail that businesses can use to their advantage. Those that harness such data responsibly will gain a more holistic view of their customers' behaviour. This can translate into targeted marketing campaigns, personalised promotions and – at the end of the day – increased revenue.”
The study also reported that 85 per cent of organisations surveyed use multiple systems to internally capture data. According to Tibco only 35 per cent of such systems are fully integrated, 48 per cent are partially integrated and 17 per cent have no integration.
The firm said the study shows a third of organisations are not effectively harnessing big data analytics. The firm said this is a waste of time and resources for many Australian firms.
Tibco said the study was comprised of 200 senior IT, marketing and finance decision makers from different industries and organisations across the country.