The challenge is
finding the right information once it is needed and when it's not too late; because valumes of data are generated instantly and so very hard to manage.
The consequences are
—waste of resources
—risk of delay in project delivery
—massive loss in time and money
data needs to be rescued!
During executions you must work with contractors and experts while the key player is the big data being produced constantly; vast and valuable but disintegrated and scattered.
Sure all teams will have their information stored in their own systems separately; but your organization/project is an integrated system and you look to have a holistic vision towards every aspect. You definitely don't want critical information to beburied. You want to be aware of information that already exists and you need to see errors as soon as they occur.