Information is a resource to be managed for maximum value, be it for the business, or public, good. Unfortunately, according to this month’s CIO Insight study on information management and IT governance, corporate America’s information resources need much better management. And while many IT executives clearly realize there is room for improvement, some may be in denial. While 65 percent of IT executives say their company excels at processing and using information, far fewer indicate their companies are very effective at collecting and using customer, financial and business process information. Most IT executives say business users frequently complain they are not receiving the information they need. The bottom line: despite the massive investments in information technology and gathering, companies have a long way to go before they gain anything close to full value from information. That creates an enormous opportunity for organizations which can do a better job of managing information than their competitors.
Story Guide:
CIOs Struggle to Generate Full Value From Their Information Finding 1: Just two-thirds of executives say creating and using information is one of their company’s strengths. Finding 2: How do companies benefit most from information? By cutting costs and improve customer satisfaction. Finding 3: Few companies excel across the board at producing and using high-quality information. Finding 4: Only one in three companies has an effective information governance process. Finding 5: Information governance is important in practice, not just in theory.