Research by Solidatus among 300 senior data leaders in financial services across the UK and US suggests data leaders are experiencing stress in the workplace that could lead them to quit their jobs. Describing the problem as ‘data distress’, the research cites three causes: too many disparate and siloed sources of data; having to establish the appropriate sources of data for a task in hand; and the risk of fines relating to data governance and regulatory compliance.
Philip Dutton, CEO and founder of Solidatus, warns that these factors compound the others and result in a fundamental breakdown in trust, which drives even higher levels of stress. He comments: “Data has become the lifeblood of organisations, driving innovation and decision-making. However, the exponential growth of data, the atomisation of data supply chains, the tsunami of regulation and the ever-increasing rate of change of business processes and systems has created almost unmanageable complexity. The resultant demands and pressures faced by data leaders have given rise to a mounting crisis: data distress. This is particularly acute in financial services.”
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