Monday, May 13, 2019

The Monthly Insight of Information Management: Leverage Information to Solve Business Problems May 2019

 The value of information is not isolated. Information Management is a scientific management discipline for effective problem-solving.

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 the right decisions and solve right problems. The value of information is qualitative, measurable, and defined uniquely by an organization. Here is a set of blogs to brainstorm how to leverage information to solve varying business problems.


Leverage Information to Solve Business Problems

Running IT as a Digital Solutionary for Information Management Information grows rapidly and it is one of the most invaluable business assets of modern organizations. The information does not live alone but permeates into everywhere in the business. Thus, the value of information is not isolated. Information Management is a scientific management discipline for effective problem-solving. Those companies that proactively invest in information Management solutions today will be able to competitively leverage their own information going forward with accelerated speed to thrive in the digital era of hyperconnectivity and fierce competitions.

How to Manage Information-Based Solutions to Thorny Business Problems Information does not live alone but permeates to everywhere in the businesses, information potential directly impacts the business's potential of the organization. Today’s business problems are complex, logic or intuition only cannot solve those problems without sufficient information. 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 to make the right decisions for solving the right problems timely.

The Potential 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.

Three Aspects of Running an Insightful IT Though nowadays data is growing exponentially and technologies have changed how we think, live and work significantly. The gaps between knowledge and insight are existing, we still live in the world with information-rich and insight poor. The insight of the situation requires in-depth understanding. Insight is in strong demand because there are so many problems large or small waiting to be solved, and a lot of challenges need to be overcome. From the management perspective, IT organization is usually the information agent of the business, it plays a crucial role in managing information lifecycle, and help the business reach a high level of Data-Information-Knowledge-Intelligence-Insight-Wisdom pyramid. Here are three aspects of running an insightful IT organization.

CIOs as “Chief Insight Officer”: How Deeply Can you Lead? Due to the exponential growth of information, fast-paced changes, and continuous disruptions often caused by emerging technologies, IT plays a critical role in navigating the journey of the business's digital transformation. To lead effectively, CIOs need to deal with constant ambiguity and unprecedented uncertainty, overwhelming information and multigenerational workforce. Thus, IT leaders today should become the “Chief Insight Officers,” to gain an in-depth understanding of their organizations both inside-out and outside in order to drive change and lead digitalization. In-depth understanding of either problem you intend to solve or the people you try to get knowing has become an important quality for digital leaders and professionals. CIOs as “Chief Insight Officers,” need to ask themselves: How fluently can you speak the digital dialect? How deeply can you lead? Which leadership strengths do you have and what are the obstacles you should overcome in order to improve IT and overall organizational maturity?

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