Information Overload Costing $650 Billion
By Mike Sachoff
Information overload is being called the 2008 “Problem-of-the-Year” by research firm Basex.
Information overload reduces employee efficiency and overall productivity and has been flagged as a key challenge for companies that operate in the knowledge economy. The cost of unnecessary interruptions is estimated to be $650 billion per year in the United States according to Basex, which took into account, decreased productivity and stifled innovation.
“The ‘Problem-of-the-Year’ designation tells us how serious an issue information overload has become,” said Jonathan B. Spira, chief analyst at Basex. “Nothing has been more disruptive to the way we work than information overload.”
No matter where one is working the chances of completing a task without interruption is small. “Normally we designate a person or product of the year,” said David M. Goldes, president and senior analyst at Basex. “2008 is the year we begin to solve the problem of information overload in a substantive way.”