Sunday, December 27, 2015

CIO’s Digital Agenda: Information & Knowledge Management

Information is the processed data, and knowledge is processed information.

The “Future of CIO” Blog has reached 1.2 million page views with about 2300+ blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom.

Back to fundamentals, CIOs are Chief Information Officers, IT is the steward of business data and information, and one of the most important responsibilities for IT is to ensure the right people getting the right information, extract to sufficient knowledge to help them make the right decision at the right time and location. Digital IT is also shifting from “T” oriented support center to “I” driven value creator.

Information & Knowledge Management

  • 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?

  • 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. Knowledge Management safeguards full understanding business processes, tools that are used and the people using those to optimize business efficiency.

  • Is IT Part of KM or KM Part of IT? Digital means the abundance of information, information can be refined into the knowledge which is one of the most valuable, but intangible assets in business today. Thus, Information Management and Knowledge Management are two important management disciplines. However, the two terms are interchanged and the exact meaning becomes clouded sometimes, are they distinct or the same? Or the interesting question might actually be: "What about Knowledge Management exists or has value without Information Technology”?

  • The Benefits of Master Data Management In today's market where analytics is becoming increasingly important, Master Data Management (MDM)  increases the validity of data used to model customer behavior, cross-sell and up-sell. If your organization has multiple customer touch points or multiple service lines, then MDM will help to ensure that you are able to assemble a complete picture of the relationship with customers.

  • Information vs. Decision Making At today’s digital dynamic, information is abundant and even explosive, the business has become over-complex also hyper-connected, what’s the correlation between information and decision making. If data-decision pair works fine to advocate analytics based culture; as information is the processed data; knowledge is processed information, how about the information-decision pair? It's not necessarily information, but the business insight leads to the right decision making. So how to measure information accuracy as well as decision-making effectiveness?

  • Agile Knowledge Management: Digitization makes information only a click away, but managing knowledge becomes more challenging due to the abundance of content, the multitude of information format, the timely delivery, and risk/compliance concerns, etc. How should you apply the Agile philosophy and principle to modern knowledge management, does “Knowledge on Demand” an ultimate goal in your organization?

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