by Bill Ives
April 21, 2010 at 3:50 am
· Filed under Adoption, CIO
According to a new study about information management (IM) released by Forbes Insights, data-related problems may be costing large enterprise companies over $5 million annually. Data-related problems cost the majority of companies more than $5 million annually. One-fifth of the respondents estimated losses in excess of $20 million per year.
The report, “Managing Information in the Enterprise: Perspectives for Business Leaders,” looks at the challenges faced by both IT and line-of-business executives as they look for better data management. The study asked more than 200 high-level executives on a global basis.
It found a divergence between business and IT leaders on how to best manage information, including a lack of agreement over who within the enterprise actually “owns” the data—users or IT. I would have to side on the business leaders here for most situations. It is this type of thinking about ownership that can get IT in trouble. It is like librarians thinking they own the books.
Looking into the divergence in more detail, the study found that business executives and IT frequently disagree about where data quality issues exist. The biggest quality issue identified by business executives was inconsistent data (40%), while IT named the gathering of duplicate data (38%) and data migration (38%) as the major problems.
This divergence is not because business leaders do not see the importance of managing information. Nearly all (95%) agreed that strong information management is critical to business success, and 85% agreed that their organizations treat information as a strategic asset.
This divergence is costly. Fragmented data ownership (41%) was the leading business roadblock organizations face in establishing an enterprise information management program, ahead of not understanding the cost of poor data quality (23%) and lack of leadership (22%).
A clear strategy is needed with well defined governance. The study found that 45% of organizations said they have some type of enterprise information management program in place, and 31% said they are currently developing one. This is not enough.
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SEOSpyApril 21st, 2010 at 3:56 am |
RT @ffblog: Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/8YUnJP
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking: According to a new study abou… http://tinyurl.com/y4bhgsz
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http://www.isuntangle.com Forbes Study Says Business and IT Leaders Need to Bette.. http://bit.ly/bllsKj
Agile Software Dev
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Forbes study says business and IT leaders need to better align their thinking: http://bit.ly/aIQ9wN (That’s what Sparked does best!)
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/bllsKj
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/awuWWb
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/bFRjpn
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mip69April 21st, 2010 at 5:39 am |
Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://is.gd/bBSJr
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fast forward.. Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://ow.ly/1780aw
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post on Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/acH0yq
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Forbes study says biz and IT leaders need to better align http://is.gd/bCvtZ {95% agree that strong info management is critical to biz…}
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking by Bill Ives http://bit.ly/aIQ9wN #data quality #MDM
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RT @JackieMRoberts: Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking by Bill Ives http://bit.ly/aIQ9wN #da …
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RT @BillIves: post on Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/acH0yq
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RT @BillIves post on Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/acH0yq
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From GReader: Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://goo.gl/fb/UDuIC
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Great post @BillIves: Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/acH0yq
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Good stuff @BillIves, Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking: http://bit.ly/bf7pMq #cio
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iaidqApril 22nd, 2010 at 12:58 am |
Another one via @jackiemroberts. http://cot.ag/ccym3q Interesting stats here. Might be worth comparing to this study http://cot.ag/8tXM8
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Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://dld.bz/aVyC
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RT @BillIves: post on Forbes Study Says Business and IT Leaders Need to Better Align Their Thinking http://bit.ly/acH0yq
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forbes study says business and IT need to align better http://bit.ly/aIQ9wN >> isn’t that what every CIO survey ever done says?
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http://www.fastforwardblog.com/2010/04/21/forbes-study-says-business-and-it-leaders-need-to-better-align-their-thinking/
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