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Best Practices for Optimizing Information:

Building the Foundation for Broad Use of Analytics

The Challenge of Optimizing Information

In order to make wise decisions and build competitive advantage, organizations of all kinds need actionable information – that is, data placed in context so it can support decision-making. Moreover, they need to be able to make today’s massive amounts of information available in ways simple and flexible enough for nontechnical people to be able to use it with minimal training or assistance from others. Information optimization addresses this critical need. An advanced form of information management, it is an approach to business intelligence that uses advances in technology to make data more accessible and applicable to business problems.

One of the main functions of information optimization is to add the context that converts data into actionable information. Done properly, information optimization enables analysts to develop and deliver insights that decision-makers can act on with confidence.

In our benchmark research on information optimization, nearly all (97%) organizations said that in order to meet their business goals, it is important or very important to simplifyinformation access for both their business and their customers. This goal – simplification of information access to support business decisions – is at the heart of information optimization, but it is not an easy one to accomplish. Only one in four (26%) organizations said that they are satisfied with their approach to doing this, indicating that expectations for information optimization are high but not many organizations are satisfying them.

 
 

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