Report: Majority of executives believe data is vital to sustaining the metaverse

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The metaverse is still in its infancy, but companies recognize the value of the new digital environment and the role data will play in developing the metaverse. According to a new report from Bright Data, 70% of C-suite executives are planning a metaverse strategy or have already started implementing it.

This business investment in the platform also raises new questions – such as security in the metaverse or how the enterprise can best use this digital ecosystem – and data is the common thread. Eighty-nine percent of respondents considered metaverse data important to their business over the next 5 years. Among respondents who considered themselves very familiar with the metaverse, that number rose to 96%. These early data points give shape to the breathless speculation surrounding matters in the metaverse, and they paint a clear message: companies are preparing, in one form or another, to enter the metaverse, and they are putting data at the center of it all.

In addition to their most pressing concerns about data and security, respondents also pointed to other ideas about how businesses could use the metaverse. While 72% of respondents cite virtual markets as a use for the metaverse, more than two-thirds (68%) also pointed to the metaverse’s potential as a future digital coworking space.

Top integration challenges within the metaverse.  87% think there will be a need for new/retrained employees.  60% of IT leaders say

However, this enthusiasm comes with potential challenges. Seventy-four percent of respondents shared that they were looking at data intelligence solutions now or plan to do so in the coming years. Finding metaverse-savvy workforces is also on the minds of IT leaders – 87% of respondents agreed they should hire new staff or retrain existing employees to integrate with the metaverse.

For these findings, the research team collected a sample of 400 respondents from the US and UK. The sample also represented a wide range of company sizes and industries. Most respondents were senior management or C-suite leadership within their organization, and 90% of the sample was primarily employed in IT.

Read the full report from Bright Data.

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