Over 92 per cent of leading European IT decision makers and CIOs feel their organisation is not fully exploiting competitive advantages from the data it holds, according to research by HP released today at the Gartner BI summit in Amsterdam.

The survey found that respondents were generally dissatisfied with the quality and delivery of information across their own organisations, with 67% admitting it was poor and inconsistent. Added to this, 69% felt they did not get the right amount of information to make business decisions, with a mere 7 per cent claiming to get all the information they required.

“Many companies are sitting on data goldmines, but lack the necessary investment and ability to extract value from the information,” said Valerie Logan, worldwide leader of information management, consulting & integration for HP Services.

“While senior IT executives recognise the potential competitive advantage contained in the data, they are hampered from investing in comprehensive information management programmes by a number of factors, including complexity and management alignment”.

Respondents felt they were unable to turn data into business insight and exploit its business potential for several reasons. Almost 80% felt the implementation of new systems was too complex, 75% agreed it was difficult to build a business case for the investment, and 74% blamed dispersed and poorly managed data depositories.

HP commissioned Penn, Schoen & Berland Associates to conduct the 2008 Pressure Point Index survey. The survey consisted of 234 in-depth interviews among senior business and IT decision-makers from companies with over 1000 employees across the UK, France, Germany and Italy during November and December 2007.