CIOInsight Survey: The Big Payback from Effective Information Management

By Allan Alter  |  Posted 2006-05-31 Email Print this article Print
 
 
 
 
 
 
 

Companies with information governance processes not only have data that is more useable, accessible and of better quality. They also get more value out of their information.

Thinking about information governance? Think about "information resource management," too. This term, long used in the public sector to describe the IT function, gets to the heart of an often overlooked insight: Information is a resource to be managed for maximum value, be it for the business, or public, good. That's where information governance comes in, and makes the old concept of information resource management real. Only half of respondents to our May survey on information management have an information governance process, but companies that do have such processes in place fare much better at using information for business advantage, improving business processes, and boosting productivity and profitability.

CIOs don't have all the answers yet on the mechanics of how information governance should work, but it's clear that good information governance brings bottom-line benefits: Fifty-nine percent of companies with an information governance process say they are very effective at using financial information to improve profitability, compared with 42 percent of firms that lack governance processes. With a payback like that, companies can't afford to overlook formal information governance.

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.

    Read the full story on eWEEK.com: CIOInsight's 2006 Information Management Survey: The Big Payback from Effective Information Management



  •  
     
     
     
    Executive Editor

    Allan Alter has been a specialist on information technology management, strategy and leadership for many years. Most recently, he was editor-in-chief and the director of new content development for the MIT Sloan Management Review. He has been a columnist and department editor at Computerworld, where he won three awards from the American Society of Business Press Editors. Previously he was a special projects editor, senior editor and senior writer for CIO magazine. Earlier, Alter was an associate editor for Mass High Tech. He has edited two books: The Squandered Computer: Evaluating the Business Alignment of Business Technologies and Redesigning the Firm.

     
     
     
     
     
     

    Submit a Comment

    Loading Comments...
    Manage your Newsletters: Login   Register My Newsletters