The OECD has reduced the US growth outlook to 1.6% due to rising inflation and sales warnings. Companies struggle to utilize their own data effectively, with an estimated value of $3.1 trillion trapped in dark data. Internally fragmented systems and organizational silos prevent effective use of workforce data. Despite billions of data points generated daily, companies fail to convert this data into actionable insight. AI tools are beginning to help businesses leverage this buried data for substantial payoffs in various business outcomes.
Despite a decade of talk about data-driven decisions, 85% of Fortune 500 companies still aren't using their workforce data effectively. Organizational silos are alive and well.
The problem is not a data shortage; it's a data disconnect. Companies treat HR, finance, sales, and operations as separate entities rather than interconnected data sources.
Companies are failing to draw a line between siloed people data and real business outcomes, from sales to customer satisfaction and even employee retention.
With AI, businesses are figuring out how to use this buried data and are seeing enormous payoffs, aiming to turn billions of data points into actionable insight.
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