EURIM
Value of Information Subgroup
The
importance of information, the current state of play
Cap Gemini, The Information
Opportunity (March 2008)
Research across 125 senior
leaders from FTSE 350 and public sector organisations. Concludes that the
broken information culture in the UK is reducing economic income by c£65bn per
annum. Of this £44bn is in missed private sector profits and £22bn is in
avoidable administrative costs in the public sector. Substantial indirect cost
through the effect on international competitiveness should also be considered.
Evidence for the increasing
importance and value of information management in organizations, including :
-
Information becoming a
top-3 organizational priority (80%).
-
An improved information
culture was already delivering value for money (85%).
-
High performing
organizations base decisions more on evidence (84%).
The main drivers for
improving the exploitation of information were to improve business effectiveness
(47%), cost reduction (38%) & to meet consumer expectations (37%).
The major consequences
of not making effective decisions, inaccurate information sharing and failure to
join up information were identified as financial loss (43%), reputation damage
(40%) & loss of customers (38%).
The key barriers to
information exploitation were not system related, but staff skills (31%), user
culture (30%), lack of leadership (23%).
Cap Gemini identify 3 key success factors:
-
Treat information as a strategic corporate asset –
likely to be the single biggest asset but also the most underexploited.
Needs to be at the heart of what orgs do and to drive people, process and IT
changes.
-
Leadership
– creation of an effective information culture must be led from the top.
-
Change Staff behaviour and skills
– break out of information silos and ensure information management and
analysis skills are seen as critical personal skills.
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