It has been argued for many years that if applied effectively, information can be a
valuable organisational resource; indeed, many contend that it is the lifeblood of the
organisation. This view is supported by the academic literature, which identifies a
wide range of factors that influence perceptions of strategic information value. For
example, information quality and information accessibility have both been widely
discussed. The use of information for enabling organisational change in
organisations, for marketing activities, and for strategic planning have also been the
subject of academic investigation. However, whilst the literature in this domain is
fairly extensive, it is largely theoretical, rather than empirical, in nature and it also
tends to be highly fragmented, addressing narrow aspects of value. The primary aim
of this study was to undertake a holistic exploration of the factors affecting the
perceived value of strategic information, using rigorous empirical methods.
Moreover, the research sought to address the question of why organisations typically
fail to treat information as a formal asset, even though they perceive it to be valuable
resource.
To explore these broad objectives, a three-phase approach was adopted combining
the use of both quantitative and qualitative methods of research. More specifically,
the study commenced with a questionnaire-based survey that was designed to validate
the initial conceptual framework. This was followed by a phase of the research, which
utilised detailed case studies in eight major UK based commercial organisations, to
explore how perceptions of information value were affected by the implementation of
data warehouses. The final phase of the study sought to validate the research findings
and explore their wider implications, through the utilisation of on-line focus groups.
The research project has produced several key findings. It has provided evidence that
information accessibility and information quality are critical constructs that impact
the perceived value of information. It has confirmed that a number of business
activities, such as marketing, are highly dependent on the use of information. It has
suggested that improvements in the accessibility and quality of information can lead
to the improved effectiveness of these business activities, and that this can lead to the
attainment of more substantial measurable business benefits. Finally, the research
has also suggested that although most organisations consider information to be
valuable, few give serious consideration to formally classing information as an
asset, and none appear to measure the value of their information assets. It is believed
that this study has made a number of significant contributions to the literature. It has
provided a holistic view of the dimensions that can impact the perceived value of
strategic information. Most importantly, from an academic perspective, it has
produced empirically based evidence on the relationships between a wide-range of
dimensions and the perceived value of information, on attitudes to information being
considered an asset, and the actions organisations take to measure the value of
information assets. It has been argued that without a clear understanding of the value
of information, it is difficult to manage it appropriately, and consequently it is also
difficult to ultimately attain the value of the information. By providing afar clearer
and holistic picture of the factors affecting the value of information, coupled with
many important new insights about the management of information, the results of this
study should help to ensure that organisations can fully realise the value of their
strategic information resources