The High Cost of Not Finding Information

There are several problems and issues which follow the prevalence and dominance of ICT and digital data creation and consumption.

 An enterprise employing 1,000 knowledge workers wastes $48,000 per week, or nearly $2.5 million per year, due to an inability to locate and retrieve information.

  • that the timely access to information is a critical success factor
  • the costs of not finding information are not explicit, and are rarely perceived as impacting on profitability
  • poor decision making is a significant threat to the viability and sustainability of organisations and the quality of decision making is a function of access to relevant information
  • information systems need the capability of overcoming the inherent problems of legacy data
  • the value of knowledge workers within an organisation improves with "universal access to all information, but they only need that portion of the information that actually solves the information problem at hand"

Research was conducted in 2002 and published in an IDC whitepaper - The High Cost of Not Finding Information.

 An enterprise employing 1,000 knowledge workers wastes $48,000 per week, or nearly $2.5 million per year, due to an inability to locate and retrieve information.

The IT manager of one Fortune 500 communications firm estimates that by improving search and retrieval systems for just the firm’s 4,000 engineers, the investment would be recovered within a month and would contribute to a $2 million monthly productivity gain thereafter.

In the aggregate, the Fortune 1000 stands to waste at least $2.5 billion per year due to an inability to locate and retrieve information.

This whitepaper is still widely cited.

The issue still persists, and due to the increased ability to collect data, the volume of data is increasing.