In a survey of more than 200 business and IT executives, Forbes Insights reports that poor information may be costing companies millions of dollars each year. In fact, this survey discovered that data-related problems cost the majority of companies more than US$5 million annually, with some companies reporting losses in excess of US$20 million per year.
In a report entitled “Managing Information in the Enterprise – Perspectives for Business Leaders,” Forbes Insights summarizes the survey results and provides some clues as to the reasons behind such costly losses. A key finding of the report is that many data management issues can be attributed to the widely differing perspectives between IT and business executives as to how to best manage information. These two constituents do not see eye-to-eye on issues such as data quality, data ownership, overall information management, and how to measure the ROI of data management solutions.
This informative report provides perspectives from both IT and business on such issues as:
- Where IT and business executives differ most on data management initiatives
- Why the main area of disagreement – data ownership – causes conflicts that become the number one roadblock to success
- What the primary data quality issues are – such as duplicate data, incomplete migrations, and inconsistent data – and how they affect business process efficiency
- How the value of data management projects is disputed because of knowledge and communication gaps
With further insight from global companies such as Intel, Petrobas, and Nokia, the report also provides “Taking Action” recommendations for how to address and resolve each of these data management issues.
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