Monday, July 25, 2016

The CIO’s Digital Agenda: Information Management Tuning to Getting the Business Digital Ready July 2016

Information is the lifeblood of digital organizations.

IT is the foundation of data, information, and modern knowledge. The biggest misnomer regarding IT is that it is "just technology." The most powerful and differentiating tool in all of the today's businesses is INFORMATION and that, is provided by IT systems. And IT is the information steward of the company. CIOs as IT leaders, how to fine-tune your organization’s information management to get the business digital ready?

The CIO’s Digital Agenda: Tuning Information Management to Getting Business Digital Ready

  • Information Management as a Thresholding Competency of Digital IT?  Nowadays information is the lifeblood of the organization, all forward-looking organizations claim they are in the information management business, managing information and the information position of an organization is what ought to be called Information Management. Information Management is to make sure that the right information is in the right place at the right time and shared to the right persons for making the right decisions. IT is often the information steward of the business, and information management is a thresholding competency for running a digital IT.

  • From Information Management to Innovation Management? The majority of IT organizations still get stuck at the lower level of IT maturity as a support center. With overflowing information and overwhelming business changes, IT must change -to not just "keep the lights on," but more focus on information and innovation management. What are the logical steps should IT take, and how to manage a balanced innovation portfolio to maximize business value and improve business performance?

  • Information vs. Decision Making? At today’s digital dynamic, information is abundant and even explosive, the business has become over-complex also hyper-connected, what’s the correlation between information and decision making. If data-decision pair works fine to advocate analytics based culture; as information is the processed data; and knowledge is processed information, how about information-decision pair? It's not necessarily information, but the business insight leads to the right decision making. So how to measure information accuracy as well as decision-making effectiveness?

  •  The Value of Information? Data is raw, unorganized facts that need to be processed. Data is simple, random and unorganized; on the other hand, information is processed data. Information is structured and presents facts in context to targeted situations and conditions that facilitate business in making the right decisions at the right time. Given this assertion, there is no limit to the value of information in the digital economy.

  • How to Survive and Thrive at the Age of Information Overloading? We live in the age of information abundance, it’s so delightful to capture the knowledge power because information is only a click away. However, is the Information age flooding one’s brain with an overwhelming amount of diverse knowledge? What are some strategies to prevent overload?

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