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Midsize businesses battling data brain drain

~ New research finds that 98% of UK mid-market companies struggle with data quality ~

July 02, 2009

LONDON, July 2, 2009 - IBM (NYSE: IBM) Nearly all of the UK’s midsize companies suffer from poor-quality data according to a recent study conducted by IBM.[1] The study of 100 board-level decision makers of mid-market organisations also found that two thirds of them rely on error-prone manual processes to deal with data.

The new study reveals that nearly half of respondents (46%) admitted concern about the overall integrity of their information they use to make critical business decisions.

“In a challenging economic climate, organisations need to have confidence in their business decisions and the data that underpins them,” said Clive Longbottom, Service Director at Quocirca. “Inaccurate data can trigger huge problems causing critical damage to an organisation.”

The research announced today also revealed a worrying attitude towards managing business performance within UK organisations, with only 7% constantly monitoring key performance indicators. Over two thirds (68%) of companies do very little in the way of observation and analysis.

“The vast majority of mid-market organisations have yet to equip themselves with the necessary business intelligence tools, despite appearing to be being better informed than their enterprise-size cousins about the value they bring,” Longbottom said.

“Mid-market businesses have long been burdened by over-complicated spreadsheets, out-of-date budgets and inaccurate forecasts. With the right systems in place, these organisations can ensure that accurate data can reach the right people at the right time to make the right decisions,” said James Bureau, senior sales manager, at IBM business partner Inca Software.

Another area highlighted in the research was the lack of information sharing across businesses, with more than a third (36%) of IT staff either actively prohibiting or discouraging data sharing up and down the value chain. Added to this, only 13% of reports came from a single data source, underlining the disjointed data structure in many mid-market organisations.

“Business Intelligence and Performance Management tools have long been incorrectly viewed as an exclusive enterprise-only club, and this perception has to change,” said Ged Simmons, country manager, IBM business intelligence and performance management, UK and Ireland.

“A growing number of mid-market businesses are already achieving significant ROI and visibility from BI and PM. In the information age, accurate data is absolutely critical when it comes to making decisions for the future of the business – whatever the size or sector.”

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[1] Quocirca Research

Executive quote

“Business Intelligence and Performance Management tools have long been incorrectly viewed as an exclusive enterprise-only club, and this perception has to change,” said Ged Simmons, country manager, IBM business intelligence and performance management, UK and Ireland.

“A growing number of mid-market businesses are already achieving significant ROI and visibility from BI and PM. In the information age, accurate data is absolutely critical when it comes to making decisions for the future of the business – whatever the size or sector.”

Customer quote

Clive Longbottom, Service Director at Quocirca said: “In a challenging economic climate, organisations need to have confidence in their business decisions and the data that underpins them. Inaccurate data can trigger huge problems causing critical damage to an organisation.”

About the company

About Quocirca
Quocirca is a primary research and analysis company specialising in the business impact of information technology and communications (ITC). With world-wide, native language reach, Quocirca provides in-depth insights into the views of buyers and influencers in large, mid-sized and small organisations. Its analyst team is made up of real-world practitioners with firsthand experience of ITC delivery who continuously research and track the industry and its real usage in the markets.

About Inca Software
Inca is a leading provider of planning, reporting, forecasting and consolidation solutions for organisations across all industry sectors. Inca has built up an unrivalled sales, customer support and professional services team and serves over 500 customers across the UK and Europe enabling them to achieve planning, reporting and forecasting success. Our experience has taught us that technology only takes an organisation halfway towards its planning goals. It is excellent advice and support that will ultimately help finance departments transform the planning culture and performance of their organisations.

Working with Inca allows customers to take advantage of an unrivalled services and support team. Inca has over 70 years of collective business and financial planning expertise, and is the most successful provider of planning solutions across Europe. For further information visit www.incasoftware.co.uk

For further information visit: www.ibm.com

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Contact details

For further information about IBM Cognos software, please contact:
Steven George or Anna White at LEWIS
Tel: +44 (0) 20 7802 2626
Fax: +44 (0) 20 7802 2627
IBMcognos@lewispr.com

Technorati tags: IBM Cognos | mid-market | data quality | business |

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