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Enterprise Information Management: One-Third of Top Organizations To be Hit with Information Crises
As organizations become overwhelmed in the management of their data, Gartner is predicting that within the next three years that one-third of Fortune 100 organizations will be hit with an “information crisis.” These crises will be precipitated by inability of organizations to effectively value, govern and trust the information which they manage.
Businesses need to manage and leverage value from their data, not simply retain it. Gartner recommends that in order to do that, businesses should take on Enterprise Information Management (EIM) initiatives. Adoption of EIM will allow their information to be shared, reused, and analyzed, and in so doing, they can create greater business value for their organizations.
Andrew White, research vice president at Gartner, said that “There is an overall lack of maturity when it comes to governing information as an enterprise asset. It is likely that a number of organizations, unable to organize themselves effectively for 2020, unwilling to focus on capabilities rather than tools, and not ready to revise their information strategy, will suffer the consequences. When we say manage, we mean manage information for business advantage, as opposed to just maintaining data and its physical or virtual storage needs. In a digital economy, information is becoming the competitive asset to drive business advantage, and it is the critical connection that links the value chain of organizations. With effective information governance, business users will understand the impact of poor quality data on the outcome of desired business processes. This understanding leads to a desire, on behalf of the end user, to assure or ‘steward’ the data so that it supports their day-to-day business activities.”
