The economic impact of the ‘Information Glut’
In a report for Hitachi Data Systems, Deloitte Access Economics analysed information mismanagement and the ‘information glut’ in Australia.
Efficient information management systems are critical components of a successful, modern business. Used effectively, information has the power to drive improved business performance and improve economic efficiency throughout the economy.
However failure to effectively manage information can be costly. Increased digitisation of records and a wide range of business applications mean that, if an organisation’s computerised data is poorly organised, there can be large staff productivity costs associated with time spent searching for the correct data. In addition to these productivity costs are missed opportunities to utilise business analytics to capture information that may help to improve performance or identify new business opportunities.
It is in this context that Hitachi commissioned Deloitte Access Economics to analyse information mismanagement and the ‘information glut’ in Australia. This study provides an assessment of how information mismanagement is impeding businesses, and undertakes an economic impact analysis of how improved information management could facilitate improvements to business productivity and the broader economy.
The analysis in this report draws on a survey of 400 firms undertaken on behalf of Hitachi Data Systems across Australia and New Zealand.
Published: November 2011