Executive leaders are stressing the strategic importance for their organizations to become more agile in responding to market dynamics that seem to be occurring more rapidly. Information sits at the center of this strategic objective. It feeds analytic engines enabling improved decision making to address changes in customer behavior, competitive threats and market direction. A large majority of organizations that are embracing analytics are realizing the benefits.
The research paper, Analytics: The speed advantage, published in the Fall of 2014 (IBM Institute for Business Value) indicates that companies have experienced a rapid, positive return on investment and impact on business outcomes. This translates to the need for the information governance (IG) program to move faster as well since it is recognized as part of the foundation for Big Data/analytics. IG will need to define and apply policies to more information and at a faster rate, which increases the challenge for those still struggling to gain control of legacy data. Given that executive expectations are that new data-driven insights will continue accelerating, their expectations will likewise be for IG to keep up, i.e. more strain on the program.
The speed advantage of analytics isn’t necessarily a bad thing for IG stakeholders in the long term since it will highlight the importance of IG to corporate performance at the executive level. The potential being that it leads to greater investment in the program as part of the organization’s analytics strategy. Potential is italicized because the correlation may not be intuitively clear to executives and IG will still need to make the case for it being instrumental to the quality of data used in analytics. However, in the short term, most IG programs will be challenged to meet the desired pace. Organizations are moving fast to implement robust analytics capabilities, which they must or risk losing market share to competitors that are more fully executing information-centric strategies.
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