How well enterprises gather, manage, and distribute their information can make a huge difference in revenue.
A recent blog post by Barb Mosher of CMSWire on the concept of information management agility spells out the critical importance of how enterprises gather, manage, and distribute information.
She makes the point that having the right information doesn’t necessarily translate into having it in actionable form: “Quickly responding is the key here — meaning that we are agile. How can we manage our information and make it available to the right people at the right time to provide competitive advantage.”
Getting this right is critical in light of a recent study that suggests that the median Fortune 1000 company can potentially boost its revenue by more than $2 billion just by improving the way it manages and leverages data it already has:
According to the study, a 10 percent increase in data usability increases sales per employee — the measure of employee productivity — by 14.4 percent… Applied to the median sales per employee in the survey ($388,000), the median organization could increase sales per employee by $55,900 annually ($2.01 billion in total revenue) by improving data usability.
The study was conducted by the McCombs School of Business at the University of Texas and sponsored by Sybase. Loraine Lawson reports that results of the study are being released in three parts, with the first part (dealing with financial impact) available as a free download on on Sybase’s site.