The sheer volume of information being created on a daily basis by the average business is staggering. In fact, it’s been estimated that more data has been created in the last two years alone than in the entirety of human history leading up to that point.
If you had to make a list of some of the major reasons why an information management project might fail — particularly those that are a part of full scale digital transformations — a lack of executive buy-in would undoubtedly be right at the top.
The world’s healthcare workers have taken center stage in 2020, due to the Coronavirus pandemic. The work they do to keep patients healthy is tough work — hallmarked by long shifts and lots of information to digest and record. Anyone in the healthcare space will attest to the fact that managing information sits at the center of their work. They need to access patient information, process insurance claims, record new patient information, among tons of other document-related work.
Most organizations don’t leverage their information effectively. There are varied statistics out there but one assessment says that 60-73% of company data goes unused. It lies dormant in some repository, forgotten about, taking up space which costs money and may even violate compliance requirements.
It’s no secret that remote work or telecommuting was gaining popularity in the United States over the past decade. According to one recent study, about 4.3 million people work remotely at least half the time — a number equivalent to about 3.2% of the entire workforce. All told, the number of people who work from home in some capacity has increased by an impressive 140% since 2005 alone — a trend that showed absolutely no signs of slowing down anytime soon.
At this point, remote work isn’t just a common part of our lives. It’s essentially a ubiquitous one, thanks to the impact of the unexpected and ongoing COVID-19 pandemic. Even businesses that hadn’t embraced telecommuting in the past were forced to confront this tech-driven future sooner than expected, which has led them to turn to a wide variety of different solutions in an attempt to meet their needs.
According to Gartner, information contributes at least 20-25% of an average organization’s value today. Studies have uncovered countless ways to use data as an asset to help improve businesses by reducing costs, improving customer satisfaction, and managing risks. Along with the paradigm shift towards valuing information as an asset, companies also need to find opportunities to maximize its worth by focusing more upon data governance.
