Greg would like to thank Nick Millman, senior director in Accenture Information Management Services, for his contribution to this months column. Research by Accenture confirms, as intuition would tell us, that high-performing organizations make far better use of information than their peers. The characteristics of underperformance on information usage are well documented: multiple versions of the truth, information silos, poor data quality, too much data and not enough insight. Conversely, effective use of information can drive significant benefits, including increasing top-line sales, identifying cost savings, improving customer satisfaction and monitoring regulatory compliance.
Data governance is fundamental in the effective use of information, and its role is becoming more crucial but at the same time more challenging as the quantity of data and number of information types increases across the average organization. Adding to the challenge is the shift from departmental and functional solutions to enterprise solutions for information management. This requires organizations to establish more sophisticated data governance across process and organizational boundaries.
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