According to the study called IQ Matters, Canadian executives feel they are buried in information (85%) and that they feel there are multiple versions of the truth’ (82%), which limits their ability to make a useful decision.
And things may be getting worse. New technologies such as Radio Frequency ID tags are contributing to an exponential increase in the amount of data.
Canadian executives were surveyed on ten categories of information quality including timeliness, reliability and accuracy of financial and operating information, and reported ‘room for improvement’ in every category.
There is room for some optimism, “CEOs are much more aware of the issue,” says Gordon Shields, Partner, Deloitte. Over 90% of Canadian companies are under-taking or planning to undertake initiatives to improve the quality of information over the next two years.