Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Data-Driven Resilience Report Highlights Rising Costs as Biggest Threat to Business Survival 

by November 2, 2023
November 2, 2023
Data-Driven Resilience Report Highlights Rising Costs as Biggest Threat to Business Survival 

The latest Data-Driven Resilience Report from global data and analytics provider Dun & Bradstreet reveals the rising costs of doing business as the most significant threat to businesses’ survival over the next 12 months.

The study, which surveyed over 3,000 business decision makers globally, highlights the role of data in making businesses both resilient to changing external risks and enabling them to identify new growth opportunities.

Whilst rising business costs was identified as a major threat by a third of those surveyed, this rose to 48% and 44% for those in retail, catering and leisure, and travel and transport sectors respectively. Worryingly, the report also revealed some serious concerns from businesses about their confidence in being able to adapt to these threats over the next 12 months at all, with as many as one in ten saying they were ‘barely resilient’ or ‘not resilient at all’.

Critically, it has become clear that having access to the right data, and being able to use it effectively, is key to maintaining and improving business resilience. Over three-quarters of global business leaders believe that data will play a crucial role in helping their businesses navigate the turbulent times ahead.

With the rising cost of doing business top of mind for leaders, when asked how they anticipate increasing the quality of their data will have a positive impact on their organisations, the primary responses were increasing revenue, driving business growth, and improving customer service. However, over one-third of leaders report difficulties with achieving the true potential of their data, and almost a quarter aren’t sure how to get the best out of their business data.

Surprisingly, many leaders seemingly do not consider mitigating risks and complying with regulations as a top priority for how quality data can positively impact their organisations. Business leaders are also not fully leveraging the positive impact that data can have on their understanding of their business and the broader landscape it operates within. A mere 14% of them have plans to utilise data for comprehending their business performance, and even fewer, just 8%, intend to employ data to gain insights into disruptions within their ecosystem.

These data blind spots underscore the urgency of raising awareness about these tools and the imperative for organisations to cultivate data-related practices and skills that empower them to unlock maximum value and build business resilience.

In last year’s report, energy prices were highlighted as the biggest threat to business survival by 43% of those surveyed but this has dropped significantly, with just 33% of businesses globally now citing this as a key issue. However, there are some clear differences across markets with energy prices retaining their status as the top potential threat according to business leaders in major European markets such as Germany, Austria, the UK and Poland.

Commenting on the findings, Edgar Randall, Managing Director at Dun and Bradstreet UK&I, said: “Building business resilience goes beyond mere survival when times are tough. As underscored in our latest report, it involves harnessing high-quality and timely data, as well as the ability to use it effectively to uncover opportunities, assess risks, and swiftly adapt to the ever-evolving market landscape. In today’s rapidly changing world, data-driven decision-making isn’t an option; it’s a necessity. Those who embrace this shift and combine global data with local expertise will not only survive but thrive, building resilience that extends far into the future.”

Read more:
Data-Driven Resilience Report Highlights Rising Costs as Biggest Threat to Business Survival 

0
FacebookTwitterGoogle +Pinterest
previous post
New research highlights increasing threat of US-style litigation culture to British business SMEs
next post
Small Business Charter appoints Cobra Beer founder, Lord Bilimoria as new patron

You may also like

Title: Why is Victoria Falls Perfect for Safari?

February 8, 2023

Inflation fear as food prices hit record highs

January 4, 2023

Why Choosing the Right Hosting Service is Crucial...

August 12, 2024

BP Halts Offshore Wind Projects to Refocus on...

June 27, 2024

Made in Britain: Harnessing nature’s power for wellness,...

February 12, 2024

The standing desk revolution: Why I finally gave...

September 30, 2024

Why Vaping is a Great Alternative for Quitting...

January 13, 2024

Firms invited to access funded support as part...

November 14, 2023

Guide to safe and ethical use of facial...

April 11, 2024

12 Steps to Improve Road Safety in Your...

October 21, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Claim Trump nixed top Musk ally from NASA post over Dem donations belied by ex-Dems on team

      June 6, 2025
    • House Budget chairman explains why there’s no ‘pork’ in Trump tax bill after Elon Musk attacks

      June 6, 2025
    • Silver’s Surge is No Fluke—Here’s the Strange Ratio Driving It

      June 6, 2025
    • Friday Feature: Incubate Debate

      June 6, 2025
    • Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

      June 6, 2025
    • Universities in Libertarian Land

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,013)
    • Politics (15,547)
    • Stocks (3,131)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved