Inefficiency is when something gets done with more money, time and resources than it should. Ineffectiveness is when something should be done differently to yield better results.
In both cases, typically the actors don’t know better, or don’t have the requisite knowledge and information to act optimally, and the results show. For sales it means less revenue, for services it means lower customer satisfaction, and in both areas it means increased costs–everything businesses don’t want!
In my 25 years of being involved with IT and business process re-engineering initiatives, I have seen businesses dramatically improve their ability to manage and govern customer related information. I have seen them implement systems that capture events and transactions almost flawlessly. In fact, this has not only caused information volumes to explode, but also the diversity and number of information sources to increase dramatically. Read more and comment »