Saturday, November 28, 2020

Information as the Golden Thread

 It will be those companies that proactively invest in information Management solutions today will be able to competitively leverage their own information going forward. 

We live in the exponential digital era, there isn't really much of an enterprise without the massive oceans of data that flows through the company at any given split second. Information is the lifeblood of business, the quality of intelligence depends greatly on the quantity of information. 

Now, businesses could get disrupted even overnight by the emerging digital technologies, business model or ambitious startups. Organizations across vertical sectors today should transform themselves into the digital mode which is based on information, fast adapting to changes, catalyzing innovation, and keeping digital fit.

Information is the golden thread of the digital organization:
Information is one of the most invaluable assets of the business today. There are some of the important bits and bytes of information needed to forecast the business growth opportunities or capture customer insight. Digital organizations can harness the power of information to provide the emergent business trends with a fact-based vision of where to aim and how to get there. Some trends are more significant than others in their impact on business growth, enhance the business model and extend profitability. So the art of information management is to identify the right information, validate it and communicate it to the right people at the right time for making effective decisions to grasp opportunities or manage risks systematically. Compared to the physical asset, Information Management should be managed holistically in order to truly capture its business value. The science of Information Management is to break down silos, keep information flow and apply an integrated information life cycle management solution to improve business responsiveness and maturity.

In reality, the organizational data environment is often fraught with inconsistency, redundancy, multiple, sometimes overlapping data or knowledge platforms, all of which make information management as one of the most challenging management disciplines. Organizations with high “digital IQ” can weave information into the very fabric of the business, optimize its usage, prepare and gear up the information systems to not only make readily pertinent information to top business decision makers but also preempt the need and present the multidimensional business value accordingly. To keep digital fit, The organization’s ability to explore intangible information assets becomes far more decisive to build competitive business advantage for the long term.

Information is the silver line of people centricity: The digital era upon us is about people, forethoughtful organizations have come to the realization that in order to be successful within their industry, they have to focus their efforts on building people-centric business by engaging employees, focusing on creating value for people in every step. Keep in mind, just because you have abundant information or relevant business content, it doesn't mean you understand needs/wants/expectations of people and consider user flows. Companies today can abstract business insight from abundant information. The refined information allows businesses to perceive talent potential or customers’ behavior patterns they have never seen before.

Information is the silver lining for building information-support solutions in anticipating people-centric problems management. It involves everything from how pricing is affecting close times and support calls to referral business activity triggered by high customer satisfaction. It also helps to uncover the interdependence and hyper-connection of business nature and bring to the table innovative solutions that meet customers’ needs, unlock business potential, fit the growth perspective of the organization and lead to a new way of doing business.

Information Systems are the backbone and provide valuable information to catalyze innovation: Information brings about business ideas and insight; and business ideas generate lots of information. By leveraging abundant information, powerful digital platforms and technologies, organizations can be more effective in executing innovative ideas by relying less on silo functions, more on cross-functional collaboration and continuous improvement. With the abundance of information and refined business insight, digital leaders and professionals can connect business dots effortlessly to trigger creative ideas, manage digital innovation and discover better ways to do things.

In fact, information is one of the most time-sensitive pieces to the digital innovation puzzle. Creativity in the "corporate" world has a lot to do with fostering a creative environment, sharing invaluable information & knowledge, and generating great ideas. How well the organization manages innovation is based on how well they can manage ideas, resources or risks. A great leader with their finger on the pulse of data-based insight can provide many ideas on how abundance of information can create fresh new opportunities, reinvent corporate culture to renew creativity energy.

The fact is that the world now becomes more advanced, complex, hyperconnected, and interdependent, with the exponential growth of information and how information-driven innovation outcomes get achieved. It will be those companies that proactively invest in information Management solutions today will be able to competitively leverage their own information going forward and ensure that Information Management activities are effective by delivering tangible and visible business benefits for their long term benefit.


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