The Cost of Not Finding Information

BP Learning

17 Oct 2008

Information Disaster

Information Disaster

Information…• Wrong

• Missing or incomplete

• Too much information

• Multiple repositories

• No single unified access point

Vision

• Right Information

• Right People

• Right Time

How successful are most searches?

Knowledge workers spend

15% to 35% of their time searching for information

40%of corporate users report that they

cannot find the information they

need to do their jobs

50%of most intranet searches are

abandoned

90%Of the time that knowledge workers

spend in creating new reports is recreating information that

ALREADY EXISTS.

What Does All This COST?

Studies looked at:

• How much time typical worker spends searching every week

• What success is in finding information

• How much time is spent recreating existing information

• What the opportunity cost is

• Increased call centre and technical support costs

Studies by: IDC, Working Councils of CIO’s, AIMM, Ford Motor Company, Reuters, 1999-2001

Based on typical enterprise of 1000 knowledge workers earning

average $80,000 per year

Here is what they found…

$6MCost of the time spent looking for

and not finding information,not including opportunity cost or rework

$12MAdditional cost of the time spent

reworking information because

it hasn’t been found (15% of time spent in duplicating existing information)

30%avoidable calls to help desk…

From THIS…

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Livelink

To this…

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To this …

Summary

• We cannot ignore the technologies available to us

• The cost of not finding information is too great

Sources and credits

• KMworld.com: The high cost of not finding information, Susan Feldman, Posted March 1, 2004

• Studies cited: IDC, Working Council of CIO’s, AIIM, Ford Motor Company, Reuters 1999-2001

• Presentation by: Elke Scrimshaw