Poor data access limiting firms

New Information Builders research suggests most firms struggle to present managers with a clear view of enterprise information

European firms are wasting time and money because managers have poor access to their data and sub-standard search tools, according to a new survey by Information Builders released this week.

The survey, carried out by Vanson Bourne, calculated that employees waste over an hour a day looking for company information, productivity losses which could equate to losses of millions of pounds for large firms. Over half of respondents said that a lack of accurate and consistent information are the biggest barriers to good decision making.

The report also found that only 44 percent of firms have enterprise-wide soliutions, meaning information is often fragmented and siloed in individual departments. Less than a third said they use business intelligence products to present information in a user-friendly format.

"The key is getting to the data in the first place and making sure it's meaningful and applicable," argued Information Builder's regional director, Peter Walker. "Their frustration in getting the information and the level of completeness and consistency is obvious."