Everyone knows that information overload is a problem in the workplace, but how much time and money are organizations actually losing to unskilled Internet searches, aimless social media efforts and poorly curated or hard-tofind information? The purpose of this white paper is to help information professionals understand and quantify the financial impact of information overload on their organizations and help them prove the financial value of investing in new information resources. It cannot be overstated that most businesses and other organizations are hemorrhaging millions of dollars annually due to information inefficiency. To combat this disturbing trend, this white paper provides simple formulas that information professionals can use to estimate their own organization’s costs associated with: • Lost productivity • Underused resources • Missed opportunities Conversely, the same formulas in this white paper can be used to help calculate the potential increase in information ROI using InfoDesk to manage and share information resources more effectively. When calculating information costs and making a case for information ROI, perhaps the most important thing to remember is to create a credible narrative. It’s important to underscore that, using these formulas, even the most conservative estimates and modest savings claims are likely to make a strong impression on decision makers– make them believable. Also, this white paper explains the methodology used to create the formulas and provides a profile of a typical information user. Readers of this white paper are encouraged not only to calculate their information costs and potential savings, but also to craft believable ROI scenarios based on their own typical information user profile. (Author/publisher)
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