Businesses need accurate data, but most don't have it

Many business leaders in the UK believe that having clear and accurate data could help them survive the economic downturn, but only a few actually have access to it.

This is according to a survey conducted by SAP, which found that half of 200 British business leaders polled said clarity of information was vital for the downturn.

However, only 14 per cent of them said that they had access to the real-time accurate data that they needed.

The poll also found that the economy has made businesses more focused towards the need of the customer, with 69 per cent believing this to be true.

It also said that 40 per cent of companies had made big changes to their business models since the downturn began.

"It's apparent that business clarity and improved access to information are business necessities," said Tim Noble, managing director at SAP UK and Ireland, speaking at SAP World in Birmingham today.

"However, clearly there is a disparity with business needs and the tools that they have that are able to deliver it."