Firms 'failing to utilise information'
Companies are failing to properly exploit the data held within the organisation when it comes to making major business decisions, according to a new study.
Research carried out by Capgemini found that 63 per cent of the executives polled said they have to make vital decisions on a daily business without the right data in front of them.
Some 36 per cent of the survey's respondents said that the amount of information available to them had doubled in the last five years.
Not adequately organising or sharing this information led to financial loss for 46 per cent of those polled and raised operational costs for another 46 per cent.
"Organisations are generating increasing volumes of information, but this simply isn't reaching decision makers in time," said Ramesh Harji from Capgemini UK.
"The UK must begin to value information as a business asset and in doing so ensure that any investments in IT solutions are not just quick fixes, but actively enhance and improve the information culture."
The research also revealed that for 31 per cent of firms, a lack of staff skills was contributing to the inadequate use of information.
A recent report from FileMaker found that UK businesses often don't make the most of employee IT skills, with just 65 per cent of the 88 per cent of people trained in spreadsheet programs at school asked to use it in the workplace.
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