Monday, May 28, 2018

The Monthly Insight of Information Management May 2018

 Information is the lifeblood and knowledge is the power of modern businesses.


The aim of modern Information Management has often been described as getting the right information to the right person, in the right format and medium, at the right time, in order to make right decisions. The value of information is qualitative, measurable, and defined uniquely by an organization to maximize its full digital potential.


 The Long Journey of Information Management


Take a Journey of a Thousand Steps for Information Management IT is only increasing in importance and relevance with each passing day. IT shifts from “T” technology focused to “I” driven - information, intelligence, innovation, and improvement. Information Management is the overall process of aligning the use of information through the management, assurance, and exploitation, guide the business towards the right direction and deliver services and solutions. It is a thorny journey with a thousand steps. IT leaders should set principles to ensure information is managed effectively and guide the business towards the right direction and deliver value-added services/solutions effortlessly.

The Five Stages of Information-Knowledge Management Information is the lifeblood and knowledge is the power of modern businesses. All leading businesses across the vertical sectors claim they are in the information management businesses. Information does not live alone but permeates to everywhere in the businesses, information potential directly impacts the business's potential of the organization. Managing information-knowledge lifecycle effectively becomes a strategic business capability. And there are different levels of information/knowledge system models to meet the business requirement at the different stage.

Information Management vs. Knowledge Management: Information Management is to connect people with the right information at the right time & location, to ensure that accurate information is accessible and shared within relevant business units. This information is open to interpretation in accordance with the level of knowledge one has. Knowledge Management safeguards full understanding business processes, tools that are used and the people using those to optimize business efficiency. From Wikipedia: Information management (IM) is the collection and management of information from one or more sources and the distribution of that information to one or more audiences. Knowledge management (KM) is the process of capturing, developing, sharing, and effectively using organizational knowledge. It refers to a multi-disciplined approach to achieving organizational objectives by making the best use of knowledge.

What is Information Management Information nowadays is a big resource and asset for organizations, and assets need to be managed successfully! When dedicating to managing business information for a couple of decades, shall CIOs go back to the fundamental, to ask themselves: What is Information Management theoretically, philosophically, strategically and tactically, anyway?

How to Unleash Information Power for Improving Business Maturity: Business and technology are now forever interwoven, and IT is the linchpin of running a digital business. IT is shifting from “T” oriented monolithic type support center to “I” driven mosaic style of information hub of the business. CIOs need to provide leadership to the organization from board level down to the business unit and IT organization, to ride learning curves, keep the pace of rapid changes, and unleash information power for improving business responsiveness and maturity.

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