Companies should start managing information instead of
just technology if they want to achieve their business objectives,
says analyst Gartner.
Gartner says that organisations who do not approach information
management in a co-ordinated, enterprise-wide manner will fail in
their business objectives in the first or second year at a rate of
more than 90%.
Many organisations want to exploit their information assets and
address issues surrounding information overload in order to achieve
their efficiency, transparency and differentiation objectives, said
the analyst.
At the same time, they want to ensure appropriate safeguards and
measures are in place to protect sensitive information and minimise
risk. But despite the recognition of the importance of the issue,
many organisations do not have formal information governance
programmes, or coordinated information management strategies in
place.
"IT professionals have focused for too long on technology and
not enough on information," said David Newman, an analyst at
Gartner. "The business expects to have the right information at the
right time to get the job done.
"It also expects information to be accurate and consistent.
Senior management also expect that adequate controls and defined
accountabilities are in place to assure compliance and reduce risk.
That is why information governance should be at the forefront."
Gartner said a lack of information governance affects the bottom
line. For example, companies in North America have lost more than
£300bn in revenue because of poor-quality data, it said.