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In the era with exponential growth of information, the challenge for the senior leaders is how to discern information they trust from information overflow.

Given the value that information is playing in the change and growth of organizations today, business leaders must become information-savvy. Information analytics tools and techniques are going to play an increasingly larger role in business. 

Effective senior executives should have a clear vision of what they need to know, how the information provided pertains to the strategic plan; they must be knowledgeable about the importance of analytical insights, cultivate an analytical thinking culture in their organization and run a smart business with adaptation, agility, and high speed.

Accuracy: Information Management is the overall process of aligning the use of information through the management cycle by what data you have, in what format and the location & method it is held, and keep refining data quality. Any business executives would like to be able to predict future trends based on current and historical data. The main concern of top execs is accuracy; the quality of information directly impacts on the quality of decision-making.

Although information can't always be knowledge; and knowledge doesn't always inform you... Information is an ingredient of knowledge; but in order to interpret information; you need knowledge; in order to keep knowledge updated, information needs to be accurate enough. Willingness to acquire additional information begins with acceptance you do not know enough to achieve your purpose; you recognize a gap in the knowledge you have and value in closing the gap, improving information accuracy and knowledge relevance for improving leadership effectiveness.

Integrity: Top management should verify the integrity of the system with varying components such as data, process, prior to trusting decisions emanating from it. In fact, data integrity and logic integrity can cause huge swings in information analytics. Without data integrity, the cool analytics that are simply wrong have impaired companies who believe they are doing the right things.

Sufficient time and resources must be budgeted to allow the data to be properly prepared in advance of any analysis. Without that, management will have unrealistic expectations about the timing and ROI of results. Obtaining buy-in from senior management is an important step in improving information management practices, as it is important that they are educated up front about the data preparation phase and how to improve data integrality, so being information savvy allows leaders at all levels to understand where they stand and what is required as a team to enhance business operations in lieu of remaining status quo, and improve decision effectiveness.

Consistency: Consistency is an important goal for data management. As inconsistent or broken business processes result in significant information inconsistencies which causes decision ineffectiveness. Data can be accurate, timely, but data can also be shared among many different business groups, it can be transformed, aggregated, derived for various business needs, each with possibly their own views on what the expected definition and quality of the data should be. That might be the very reason for data inconsistency. Breaking down silos, streamlining and standardization of information management processes is an essential prerequisite to providing effective information solutions and achieving information consistency.

To broaden the perspective of running a consistent business, there needs to be a baseline process defined across the organization to allow for consistency of the rating, look for consistency in information, teams, in organization as well as in their ecosystem. Multidimensional information management provides impressive advantages in terms of the speed of delivery, the quality of information for decision making, and the professionalism of the digital workforce. Knowing their capabilities and how they function is important to leaders as they have high influence on decision making and organizational culture.

In the era with exponential growth of information, the challenge for the senior leaders is how to discern information they trust from information overflow. You can walk through all the various dimensions of information quality such as accuracy, integrity, consistency etc, but business context is indeed a very important perspective. Discover how and where to find valuable information, not pull out the information they need and also learn what to ignore, in order to improve decision effectiveness and lead their business forward effortlessly.

Posted in: Big Data,Decision Making