We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.

Untitled Document

In business today, it is impossible to get executive sponsorship or funding for any initiative without a clear and compelling business justification. How is spending this money going to help us increase revenue? How can this program improve the business? Can we afford to fund this initiative at the current time?



To make an investment in your data -- and to ensure that it becomes a strategic corporate asset -- you must first build a solid business case.

Remember that better data management ultimately improves your business. When asked to provide substantive benefits for improving your company's data, I name these three major benefits that I guarantee are top-of-mind with the C-Suite: risk mitigation, cost control and revenue optimization.

Risk mitigation is the most likely reason a company focuses on data quality, according to an Information Age survey of 279 companies. Thirty-two percent of companies said legislation and compliance pressures were a key driver of data governance (Information Age Research Report, "Data Governance: Protecting and Exploiting a Key Business Asset," 2008).

A few years ago, I worked with a company that had just completed a difficult and time-consuming acquisition. On the surface, the acquisition looked great. The two companies had some complementary products, but there were also a fair amount of competitive products. The idea was to streamline the product offerings and reduce costs by combining redundant functions.

Since the company that was acquired generated 60 percent as much revenue as the acquiring company, the logical thinking behind the merger was that it would create a company with substantially more income. In reality, though, the results weren't so satisfactory.

The reason for this underperformance was a lack of knowledge about the new company. One of the things the new parent company never discovered during the due diligence process was that almost half of the acquired company's customers were already the parent company's customers before the acquisition. The amount of revenue that the merged company generated was substantially less than anticipated. This was a huge risk that could have been mitigated with better data management.

-1-

1  2  

   Next Page

Explore Our Topics

  • EDITOR'S BRIEFING
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More