Monday, November 25, 2013

Information Management vs. Knowledge Management

Information comes from Machine Power, and Knowledge comes through Brain Power. 

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 a full understanding of 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.

Information Management is about process, organization, and access. Information Management makes information available and useful. Knowledge Transfer allows people to understand new topics and get access to knowledge. It is about refining data into useful facts. There's no cultural or social context. Knowledge, however, is different - it is where the cultural and social context alignment (or misalignment) with the information that precedes it. Information is often available in data; knowledge is often inside the minds of employees/ experts. Knowledge basically involves the human factor and capturing the benefit of someone's experience, then applying it and making it available to broader and broader audiences who can benefit from that combined intellectual asset of information and experience. That is why it is so difficult to gather or control knowledge and avoid loss of knowledge when employees or experts leave a company. IM primarily manages existing information, and KM supports the creation of new knowledge.

IM vs. RM vs. KM vs. CM:
Information management (IM) differs in that it is concerned with the classification, manipulation, and dissemination of existing recorded information. 
Records management (RM): differs in that it is only concerned with information containers that fit the definition of a record, which can be somewhat different from organization to organization. 
Knowledge management (KM), is to capture and otherwise facilitate the recording of information that would not otherwise be shared or recorded.
Content management (CM): is completely different from those three as it is really concerned with the publishing (to some degree) of information and the manipulation of already published information for easier consumption.

The philosophical understanding of Information vs. Knowledge                                  
-Information is a machine product; knowledge is the product of the human mind;
- Information can't be always knowledge; Knowledge doesn’t always inform you...
-One person’s knowledge is the other one’s information only; what information is for one person, it is the knowledge for another.
-While information is an ingredient of knowledge; but in order to interpret information; you need knowledge; 
-Both Information and Knowledge are not equal to insight, but they are the foundation to capture insight….and allow people to make the right decisions

The intention of Eco-Information Life Cycle Management (Data-Information-Knowledge-Insight-Wisdom) is to build a high intelligent organization via capturing insight & foresight in making the right business decisions timely and bringing profits to the organization for the long term.  


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