I recently came across a survey done by Accenture a few months ago that drew some sobering conclusions about the data-rich yet insight-poor corporate environment of today.
Accenture surveyed 1,000 managers at large enterprises and found that:
- Managers spend up to two hours a day searching for information and more than 50% of the information they obtain has no value to them.
- Only half of all managers believe their companies do a good job in governing information distribution or have established adequate processes to determine what data each part of an organization needs.
- 59% said that as a consequence of poor information distribution, they miss information that might be valuable to their jobs almost every day because it exists somewhere else in the company and they just can not find it.
- 42% said they accidentally use the wrong information at least once a week.
The upshot: the terabytes of data that enterprises gather — and spend millions on storing, managing and analyzing — is bordering on useless for decision-makers. The cause for this sad state of affairs is the usual culprit: difficult to access, poorly-integrated and siloed data.
New integration technologies like SOA and master data management are rising to meet this need. BI is also evolving, converging with performance management to give managers better insight into business processes and trends.
But it’s obviously going to be an long, uphill battle — especially given that the majority of managers in the survey said that they store their most valuable information on their own computers or individual e-mail accounts!
Does this sound familiar at your organization? Any horror (or success) stories you’d like to share? Or do you think — as one reader told me yesterday — that this survey is just a pretense to scare more people into hiring Accenture consultants?