Explosion of Data at Work Contributes to $1.5 Trillion in Lost Productivity

Information optimization company Vivisimo, says the exponentially growing pool of employee-generated data is estimated to be costing U.S. businesses $1.5 trillion in lost worker productivity as a result of people spending additional time looking for the information they need to do their job both within and outside their organizations.

According to analyst firm IDC, every week employees spend nearly half their work week (or 20 hours) trying to find the right information. 75% of employees complain about information overload and 45% are reportedly overwhelmed by all the information.

To reduce the trillions of dollars in lost worker productivity, a recent Thompson Reuters study, "Intelligence, Intuition & Information," explains that "the key is to build information systems around the 'Hierarchy of Information Need (HIN)' in order to help optimize unlocked data, enable information connectivity, and contextualize intelligence."

According to the paper, trusted, connected, and contextualized data are the most basic Hierarchy of Information Needs. To learn more about this study, please visit the following blog penned by Vivisimo's Director of Product Management, Stacy Monarko.

"With the onset of new digital technologies like Web 2.0, Wikis and networking profiles, the capability to quickly and accurately find the most contextually relevant information has become increasingly difficult for many companies," remarked Tracey Mustacchio, Vice President of Marketing for Vivisimo.

"The amount of content that employees are producing, reviewing and searching for is going unchecked, which in turn is causing both a financial and operational misstep within organizations. Vivisimo helps counter the explosion of data by harnessing its Velocity platform to optimize that data and deliver the contextually-relevant information that employees need within a matter of seconds."

(C) NewsRoom America 2010