Tuesday, March 7, 2017

Information Management as a Core Digital Capability

Information Management becomes the core capability of the digital organization, and it is the key differentiator between digital leaders and laggards.

Compared to digital laggards, high-performing organizations can manage two most invaluable assets in business well: People and information. Nowadays, organizations large or small, process an enormous amount of data, information simply becomes the lifeblood of businesses. Information Management is all about having the right people to have the right information to make right decisions at the right time. Given this assertion, there is no limit to the value of information in running a high mature digital organization. Information Management is, in fact, becoming the core digital capability of the business.


Unleash information potential is to unleash the full potential of digital businesses: Information potential directly impacts the business's potential of the organization. In this digital information age, there isn't really much of an enterprise without the massive oceans of data and information that flow through the enterprise, at any given split second. Data is a raw material, information is processed data, information only has a value when it is needed. Managing the information life cycle is to manage the massive volumes of data and information that is collected, persisted, categorized, mapped, sliced, diced, reordered, related, transformed, abstracted, and made meaning of. Information is useless without extracting value from it. The enabling value of information can be captured and an information lifecycle is developed from it – different information is required at different points in the decision and operational delivery chain. Information Management is to connect people with the right information at the right time and location, to ensure that accurate information is accessible and shared within relevant business units. The art and science of information management are to optimize its usage and achieve its value and full potential.


Information-enabled innovation management: Information and technology catalyze today's digital businesses. The abundance of data and information bring both significant opportunities and enormous risks in businesses today. Information brings about business ideas; business ideas generate lots of information. And organizations can harness the power of data to provide the emergent business trends with a more fact-based vision of where to aim and how to get there, through identifying the right data, validating it and communicating it to right people at the right time. When information has been used to make an informed management decision to develop the right product, enter a new market, exploit a new channel or having the information to be able to conduct day to day operations (which have an output value) etc., Information becomes the true lifeblood of the business. Organizations can capture business opportunities for growth or delight customers via transforming information to the customer insight and business foresight. And information-enabled innovation management is more science than art, it can abstract business and customer insight from explosive information, and bring to the table innovative solutions that meet customers’ needs and fit the growth perspective of the organization.


Information Management as a core business capability to enable digital strategy: Perhaps organizations should first work to identify how information is associated with the valued tangibles of the businesses; products and resources. Information is a key enabler to help achieve your strategic business objectives, having the right information to make an informed management decision to develop the right products for serving the right customers, while reducing the cost to market, without the sacrifice of strategic goals and strategies invoked on it by its business partners. Organizations need to have Information Management as a core capability to enable business strategy. It determines the strategic objectives, their risk appetite for achieving them, identify and assess the risks and make sure it’s all joined up. If Information Management is effective, it will achieve high business value.


Information does not live alone but permeates to everywhere in the businesses. Thus, the value of information is not isolated, it directly impacts on the breadth and depth of the digital transformation of the business. Information Management becomes the core capability of the digital organization, and it is the key differentiator between digital leaders and laggards, high-performing organizations, and mediocre companies.

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