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Surviving the Sea of Change With Information Management

Surviving the Sea of Change With Information Management

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Published by mstegen
As organizations brave the stormy seas of economic change, their information assets can be critical to survival. Learn how those who build a comprehensive information strategy can realize new opportunities, reduce costs and achieve high performance.
As organizations brave the stormy seas of economic change, their information assets can be critical to survival. Learn how those who build a comprehensive information strategy can realize new opportunities, reduce costs and achieve high performance.

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Published by: mstegen on Jun 09, 2009
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07/29/2011

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Economic volatility:Surviving the sea change
Harnessing information managementto achieve high performance
Point of View
 
As a recent Accenture survey
1
has shown, organizations considereffective information managementasameanstooutgrowthecompetitionrather than just to stay in business.Information that drives decisionmaking can only be achieved if datais fully integrated and effectivelymanaged. In a climate of economicvolatility, an organization’s bestassets—its information assets—canbe critical to survival.
Insight about businesses’ operationallevers and the analysis of customerbehavior represents the lifeblood of organizations. By evaluating theirinformation assets, filtering themthrough a maturity gap analysisprocess and defining how to optimizethose capabilities, organizations canbuild a road map for the future. Inshort, by defining an informationstrategy, organizations can charteran approach that not only allowsthem to execute informationtransformation, but also providesthe means to handle the businessdemands of today and tomorrow.
Information transformation
Executives should consider theopportunity for informationtransformation; whether improvingaccess to data, changing a front end,increasing storage or undertakinga content initiative.
With today’s plethora of informationdemands, it is easy to focus on a short-term fix for managing informationwithout keeping a long-term destinationin mind. Effective management of information assets, in line with aninformation vision that outlines thestrategy and defines the destination,can transform business outcomes.In much the same way that theenterprise resource planning (ERP) boomin the past 10 to 15 years has unifiedtransactional systems and processes,so too can information managementcapabilities be revitalized by a strategicand integrated approach. Indeed, havinga consolidated view of what tools andtechnologies need to be used and therequired processes and priorities, primesan organization for the differentiatedcapabilities that separate the highperformance businesses from the rest.
Accenture believes that for many organizationsnavigating the stormy seas of a turbulent economythere is hidden treasure to be salvaged in the formof effective information management. So how canexecutives steer their information assets to sailtoward new opportunities, reduce costs and achievehigh performance?
Strategic planning
Applying an information strategythat addresses the needs of the wholeorganization, enables organizationsto plan strategically for long-terminformation transformation andhigh performance.
While executives may acknowledge thatmanaging information is a high priority,actions often fall short of aspirations interms of identifying the quality, criticalimportance and ownership of theirbusiness information. Often, anorganization’s inability to addressdata quality is an obstacle to achievinginformation asset maturity.Information strategy is importantfor executives when they are:• Seeking a single view of the truth,vital for fact-based decision making• Deciding which informationassets support the organization’sbroader strategy• Hoping to manage informationmore effectively to create newoperating models• Using information to enter newmarkets and promote productsto customers more effectively.
1. Source: “Cultivating high performancethrough information management,”Accenture CIO Survey, 2007.
2
 
Checklist
Run through the following checklist tofind out if your organization is ripe forinformation transformation.• Does your organization struggleto manage multiple businessintelligence vendors?• Are there uncertainties aroundyour core data assets?• Are your metrics consistentacross the leadership team?• Do you need to frequently initiateprojects to cleanse and improvedata quality?• Are your document and contentmanagement goals aligned?• Do you have a clear approachto data governance?
Monitoring maturity
How can information transformationbe achieved? Accenture believesorganizations must understand wherethey are today in terms of theirinformation maturity level.
Foundation level
Doing the basics and strugglingto meet business, customer andcompliance needs.
Competitive level
Having a “single view of the truth”but needing to create more valuefrom information assets.
Pioneering level
Agile, with self-service informationanalytics available to the businessbut the desire to do more.Organizations that wish to move fromfoundation to competitive levels needto apply a layer of industrialization.Foundation level organizations needto examine how they provide servicesaround their information assetsto become competitive. To achievea pioneering maturity level,organizations need to have matureinformation services and repositories.Organizations with a pioneering levelof information management are able toprovide new and unique ways to useinformation assets to drive businessgrowth and, in some cases, createnew business models.Unless organizations have reacheda pioneering maturity level, theyare unlikely to have a sufficientlyeducated workforce with the talentand experience required to useinformation assets for strategicadvantage. However, having reachedthe pioneering maturity level, thedata and content available toorganizations will be sufficientlymature and insightful to drive bothgrowth and high performance.Accenture believes that by defining aninformation strategy road map, andplanning for information transformation,organizations can achieve their desiredinformation maturity level.
Industrialization,specialization, innovation
Accenture Information ManagementServices is a dedicated global, cross-industry organization providing datamanagement, integration and analysis.We offer new ideas to help clientsbetter manage their business, interactwith customers and make strategic,financial and operational decisions.Accenture’s skilled professionals employ:
Business intelligence andanalytics capabilities
To help clients transform data intotimely, valuable knowledge by deployingeffective analytics solutions that enablesmart decision making that in turnreduces costs, accelerates productinnovation, optimizes supply chainsand pinpoints the true drivers of positive financial performance.
Data management and architecture
To help clients manage data acrossits entire life cycle so that it isaccurate, reliable, secure andconsistent throughout theenterprise to significantlyreduce the cost of ownership.
Portals and content management
To help clients bring users theinformation and applications theyneed to allow their organizationsto manage data successfully inall its forms and formats.
3
Accenture’s industrialized approachcombines a deep understanding of industry dynamics and businessprocesses with reliable, high-quality,lower-cost solutions tailored toclient’s needs. Accenture helpsorganizations be nimble, by applyingcollaborative, flexible and dynamicsolutions. For example, the AccentureInformation Resource PlanningModel helps to create a consistentframework for understanding anddelivering the components of information management.Furthermore, Accenture has helpedclients across many industry sectorsand we continue to drive innovativeinformation management solutions.Examples of areas in the resourcessector include:• Energy, by creating and fulfillinga demand for data, analytics andportal-enabled solutions. Our coreAccenture Information ManagementServices are complemented bybusiness process outsourcingservices for data with service-oriented architecture services.• Utilities, where organizations areleveraging information managementto define the smart technologies of the future; for example, advancedmetering infrastructure technologies,commonly referred to as smartmetering or smart grid initiatives.• Chemicals and natural resources,by helping organizations useinformation management to defineinnovative pricing techniques,achieve synergy savings followingmergers and acquisitions andunderstand their customer baseand market share potential.
Achieving highperformance
Doing nothing during periods of economic volatility is not an optionfor organizations that wish to growtheir businesses and cut costs.But despite the turbulent windsof change, by diving deep intotheir own operations and applyingeffective information management,organizations can expect to reachthe safe harbor of high performance.

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