Information Management is the management with knowledge as a focus, involves the use of technologies and processes with the aim of optimizing the business value that is generated.
The magic “I” in the CIO’s title implies many high expectations for such a contemporary leadership position. Back to its root, the CIO role is to be a “Chief Information Officer,” as an information management master for running the highly intelligent digital organization. Because now information is the lifeblood of the business and IT is permeating into every corner of the organization. Information Management effectiveness can leap the business up to the next level of organizational maturity.
The intrinsic, extrinsic, and epistemic aspect of information and knowledge management: Information Management is the overall process of aligning the use of information through management practices. Information in itself isn’t power, it’s the ability to seamlessly access, analyze, and utilize data to capture the business insight and foresight. The goal of information management is to ensure information assurance and improve business responsiveness. The intrinsic value of information management is to turn the most valuable information and knowledge assets into corporately owned assets and improve business decision effectiveness and business competency. Managing information and knowledge is a human problem and not just a technological problem. The extrinsic value of information management is multifold. Knowledge is power, information/knowledge management is for gaining the new and wider views, discovering unusual dots and building unexpected connections between the starting points and its rich environment, the digital ecosystem, to broaden varying perspectives, spark innovation and advance the knowledge-based economy. The epistemic value of information/knowledge management is to develop the knowledge workforce and build the culture of learning.
Information potential directly impacts the business potential for the organization: Information does not live alone but permeates to everywhere in the business. Thus, the value of information is not isolated. Potential information value all depends on how information will be used again the future. Unless you can predict how it might be used again for tangible gain, it is difficult to say what, if any, potential value. The value of information is qualitative, measurable, and defined uniquely by an organization. If done well, information can unleash the business full potential. On the flip side, information is also something that can hinder the achievement of strategic objectives, having it unavailable or compromised. The art and science of information management are to optimize its usage and achieve its value and full potential.
From Information Management to Innovation Management: Information is the foundation of creating insight, and insight perceives the new business opportunities and risks. Organizations today can harness the power of information to provide the emergent business trends with a more fact-based vision of where to aim and how to get there. Information abundance can bring new ideas, ideas have always driven business success. From information management to innovation management, IT must bring to the table innovative solutions that meet customers’ need, also digitize the touch point of customer experience via innovative services and products. Information Management is the threshold competency in running digital IT because information lifecycle management is to build a highly intelligent organization to delight customers and achieve high-performance business results for the long-term prosperity.
In summary, Information Management is the management with knowledge as a focus, involves the use of technologies and processes with the aim of optimizing the business value that is generated. Information flow can further streamline the idea flow, catalyze business growth and build business competency. Information Management is a differentiated business capability in running a high-performance digital business today.
Information potential directly impacts the business potential for the organization: Information does not live alone but permeates to everywhere in the business. Thus, the value of information is not isolated. Potential information value all depends on how information will be used again the future. Unless you can predict how it might be used again for tangible gain, it is difficult to say what, if any, potential value. The value of information is qualitative, measurable, and defined uniquely by an organization. If done well, information can unleash the business full potential. On the flip side, information is also something that can hinder the achievement of strategic objectives, having it unavailable or compromised. The art and science of information management are to optimize its usage and achieve its value and full potential.
In summary, Information Management is the management with knowledge as a focus, involves the use of technologies and processes with the aim of optimizing the business value that is generated. Information flow can further streamline the idea flow, catalyze business growth and build business competency. Information Management is a differentiated business capability in running a high-performance digital business today.
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