How Fast and Flexible Do You Want Your Information, Really?

Here is a quick note about access to corporate information from the Sloan article: How Fast and Flexible Do You Want Your Information, Really?

access to corporate data in organizations is rarely as rapid as an Internet search. “Why can’t I get information on our sales just as quickly as I can search the Internet?” is a frequently overheard complaint. That frustration has led many organizations to try to speed up the delivery of data and analysis, particularly in the context of decision making (typically described as “business intelligence,” or BI). But few organizations have reached an optimum with regard to how fast important information reaches in boxes, desks and brains.

The article suggests that more information is not necessarily better:

Consulting companies that study information consumption routinely find that more than half of all standard reports aren’t being used by anyone anymore. Inflexible standard reporting means not only that paper is wasted, but that an even more valuable resource — executive attention — is misdirected.

Here are their findings:

• The aim should be to enable faster decision making, not faster information. Focus on information speed and flexibility that facilitates that.
• Not all information is needed equally fast, nor in equally perfect condition.
• Executives often ask for more information than they use.

Key to success is right metrics to report so that managers can make effective decisions.  Unfortunately, this is difficult to do  – many times because other managers do not want to have their performance be easily visible.  Good points to keep in mind though.