UK businesses expect up to 100-fold increase in the information they need to process in the next three years. Most information is not critical to their business
Research cites anticipated information explosion for businesses... over half will be unable to process information effectively
27 November 2002 -- Bath, UK - A recent Survey has found that many of the UK's top 100 businesses will have to contend with a massive increase in the amount of information they will need to process. Well over a third of the companies surveyed felt that the amount of data they will need to process in the next three years will increase by 100-fold or more. A further 37 per cent expect at least a 10-fold increase.
The Business Information Study, commissioned by CopperEye, was conducted among 40 Information Technology (IT) Directors from the UK's top 100 companies across a wide variety of sectors, including retail and telecoms. The objectives of the research were to ascertain and understand anticipated increasing trends in the volumes of information faced by UK businesses and the extent to which they are prepared for, or are preparing for the future. The research found that the vast majority of the UK's businesses believe IT will play an increasing role in meeting their business objectives, but that spiralling volumes of information will need to be tackled by companies.
Research Question: By how much will the amount of information the business needs to process increase over the next 3 years?
x 10 37%
x 100 27%
more than x 100 9%
The results show that the ability of UK business to deal with this information explosion is questionable.
As many as 74 per cent of companies thought that this increased volume of information could have a positive impact on the performance of their business. Yet over half of them either did not know what the affect of greater volumes of information would be, or believed that their ability to process this information adequately would suffer. Over one third expressed doubts over the ability of their systems and infrastructure to cope with the massive new demands placed on them.
Significantly, according to the Research, most of the demand for increasing amounts of information is from within the business itself, from management teams, which the Research attributes to a strong desire to understand business performance and plan direction in the current tough economic climate. It brings into question the seriousness of efforts to focus on customer relationship management.
Research Question: Where has most demand for information stemmed from over the past 3 years?
The bulk of companies who took part in the Research felt that a high proportion of the information they manage is not critical to the operation of the business. But as the results show, 87 per cent of UK companies still expect IT to play an increasingly important role in meeting business objectives in the next 3 years.
Research Question: What percentage of information currently stored within your company databases is mission critical information?
Expectations placed on IT today are higher than ever before, according to the Research. It is clear from the results that IT is expected to have an increasing and obvious impact on the bottom line of the business. This is especially challenging as the results show that only 30 per cent of companies surveyed felt that they would be increasing spend on IT over the next 3 years, while another 30 per cent of companies actually saw their spend on IT decreasing.
With companies believing they will have difficulties in managing volumes of information in the future, it will be essential that they focus on mission critical data if they are to improve business efficiency.
Steven Rose, Chief Executive Officer, CopperEye says: "Looking at the results, we believe that companies are being put under more pressure to deliver effective information that is critical to operations. If they are going to rise to the challenge, efficient data management is imperative. Sifting out quality data, from the masses available, is a major business critical task facing us today and one that will intensify in the future."
"It indicates that decisions regarding technology solutions will need to be a lot smarter than in the past and that more economical solutions will be purchased to deliver increased efficiencies," he concluded.
For further information contact:
Tel: 01225 745493
Tel: 01225 745492
About the Survey
A full copy of CopperEye's Business information Study is available on request.
The research provides an insight into the information issues facing businesses today - issues that are becoming of increasing concern to the IT Directors of the UK's largest organisations. It provides valuable, quantifiable research revealing how executives responsible for IT regard the ability of their companies, infrastructures and systems to cope with the current and future demands placed on them, in terms of information processing in support of business objectives.
Greater availability of information, with faster access to operational data, are clearly vital, but as information "explodes" and enterprise-wide databases grow in size exponentially, the research shows that this is resulting in business issues for organisations. CopperEye commissioned Optima Consulting to carry out the Research on their behalf, independent of CopperEye. One of Optima's remits is to perform independent research on behalf of organisations in the IT industry. The Intellectual Property Rights of the Business Information Study belong to CopperEye.
CopperEye Ltd is an international developer and supplier of revolutionary products that significantly accelerate operations within new and existing relational database systems. It offers an innovative technical solution that provides a substantial impact on business competitiveness and operational performance. CopperEye has invented and patented a totally new type of "data indexing" solution. It represents a "quantum leap" in data indexing technology. Called Adaptive Addressing, the company currently has two core products:
* Intelligent Indexing - a solution that can improve existing Oracle relational database performance by up to ten times
*This is achieved by directly replacing existing conventional indexes within an application.
* Custom Indexing - a full set of APIs that enable application developers to easily create new custom solutions. This technology out-performs existing conventional indexes and is easily integrated, resulting in increases in performance of up to one hundred (100) times*
*in test environments within CopperEye.
By dramatically improving relational database performance, the solutions provide increased availability of information, unprecedented speed and business efficiency, as well as significant cost benefits.
CopperEye is headquartered in Bath, UK. For further information visit: http://www.coppereye.com
Copyright (c) 2002 CopperEye Ltd. Adaptive Addressing and Intelligent Indexing are trademarks and/or registered trademarks of CopperEye Ltd. All other brand and product names are trademarks of their respective owners.
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