When it comes to deciding how best to manage information, organizations on both sides of the Atlantic seem more comfortable following conventional risk-avoidance strategies than translating that information into insight and competitive advantage.
According to a media release, that's one of the key findings of the 2014 Information Maturity Risk Index, a new study published by storage and information management company
In the study,
While the results show similar levels of risk maturity for both continents, the ability to extract value from that information is a challenge. When asked to gauge the importance of securing and protecting information versus tapping into its ability to serve as a business asset, respondents named "avoiding a data breach" (85 percent in
"Information can be a company's biggest advantage, yet many organizations struggle with how to unlock its potential," said
A closer look at the survey results shows that both small and large organizations on both continents are only just beginning to utilize information for competitive advantage in three key areas:
-Innovation - Just half (51 per cent) of European firms are using information to enhance product and/or service innovation, rising to 65 per cent in
-Time to Market - Only around a quarter (21 per in
Those organizations seeking to better balance the priorities of security and value can start with a few basic areas to become better information managers:
-Engage Employees - From senior leaders to everyday employees, good information management means getting everyone in organization to buy-in on the policies, processes and continuing education that underpins a successful program;
-Monitor and Measure - Mature information management programs have metrics in place to measure the effectiveness of their policies and processes, ensuring compliance with industry and regulatory standards while uncovering opportunities for cost savings and efficiency;
-Make Information Accessible - For most businesses, information assets are in the hands of the right people to safeguard them, but not of those who can extrapolate value like research and development, sales, and customer relationship teams who have the right skills to mine that information for insights that can drive revenue.
More information and complete details:
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