LONDON – The overwhelming majority of European IT executives feel their organization is not fully exploiting the competitive advantage of the data in their systems, according to a Hewlett-Packard funded survey.

The study, released Tuesday at the Gartner BI summit in Amsterdam, showed over 92 per cent of respondents felt their data wasn’t being used well.

Overall, respondents were generally dissatisfied with the quality and delivery of information across their own organizations, with 67 per cent admitting it was poor and inconsistent. Added to this, 69 per cent felt they did not get the right amount of information to make business decisions, with only seven per cent claiming to get all the information they required.

“Many companies are sitting on data goldmines, but lack the necessary investment and ability to extract value from the information,” said Valerie Logan, worldwide leader of information management, consulting and integration for HP Services.

“While senior IT executives recognize the potential competitive advantage contained in the data, they are hampered from investing in comprehensive information management programs by a number of factors, including complexity and management alignment”.

Respondents felt they were unable to turn data into business insight and exploit its business potential for several reasons. Almost 80 per cent felt the implementation of new systems was too complex, 75 per cent agreed it was difficult to build a business case for the investment, and 74 per cent blamed dispersed and poorly managed data depositories.

At the same time, 67 per cent of senior IT decision makers felt that the IT department was still perceived

HP commissioned Penn, Schoen & Berland Associates to conduct the 2008 Pressure Point Index survey. The survey consisted of 234 in-depth interviews among senior business and IT decision-makers from companies with over 1000 employees across the U.K., France, Germany and Italy last November and December.

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