Business Intelligence & Information Management
Broad range of factors have contributed to the establishment of organization’s information management initiatives. Many have reported that planning for the future, the proliferation of semi-structured and unstructured data, increased regulatory demands and the unprecedented growth of enterprise information have contributed to information management (IM) efforts.
What are companies hoping to achieve with information management initiatives? The primary goal of organization’s information management efforts is better decision-making due to increased access to information. Information management initiatives can directly affect business performance through the analysis of timely, accurate information for better decision-making. Other top goals include reducing costs/maximizing profitability, improving workforce effectiveness, and mitigating risks/ensuring compliance.
Midsize and large organizations involved in information management projects/initiatives can become more effective in these efforts because of the strong importance ratings associated with information management. IM efforts are very important to an organizations overall IT strategy and are very effective. Effective information management can help organizations be more efficient, lessen risk and comply with governmental regulations, all of which are goals of organizations.
The broad range of factors that have contributed to the establishment of respondent organizations’ information management initiatives makes it clear that today’s organizations demand comprehensive solutions that can overcome barriers related to integrating disparate systems and standardizing data management processes.
Organizations should look to vendors that have a proven track record and the expertise to deliver these benefits.
Lastly, with the importance of information management to an organization’s overall IT strategy, more organizations need to turn to solutions that will effectively manage their IM initiatives. The creation of a Business Intelligence Competency Center or other type of cross-functional team dedicated to optimizing BI initiatives can help organizations overcome the barriers to information management success.
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Posted on February 28th, 2008 by Vipul Mehta
Filed under: Business Intelligence
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