What are the data challenges facing the world’s top companies?
A recent Forbes Insights survey of more than 200 business and information technology (IT) executives at leading global enterprises uncovered significant trends, misconceptions and underlying roadblocks to better information management:
• Data-related problems cost the majority of companies more than $5 million annually. One-fifth estimate losses in excess of $20 million per year.
• 95% of organizations agree that strong information management is critical for business success.
• Line-of-business executives and IT frequently disagree about the source of data-related problems and potential solutions.
• Fragmented data ownership is the single biggest roadblock to an enterprise information management program.
• CIOs and their IT managers need to communicate more frequently and effectively about information management projects and their benefits to lines of business.
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?
You can find a detailed report below: Managing Information in the Enterprise: Perspectives for Business Leaders