Sunday, January 31, 2021

Innovative “Informationer”

The qualitative digital leaders today must be very open to information, desire for insight, and hunt for wisdom.

Information does not live alone but permeates to everywhere in the businesses nowadays. The power of information is to provide real-time insight across the organization in ways never possible before, for making timely decisions, responding to changes accordingly and catalyzing innovation relentlessly. 

The younger generation today are exposed to much more information and can easily acquire knowledge in most areas they want to engage in. Hence, a leader is expected to be more informative, intelligent and wiser to be able to make effective decisions and lead by influence, not by brute force.

The ability to think strategically involves information analysis and interpretation, which only a few people have: Information is the lifeblood of business, the value of information is not isolated, the words like "information" and "data" have a variety of meanings: Colloquial, professional and technical, etc. It is open to interpretation in accordance with the level of knowledge one has. “Information" as input to the decision-making does not absolutely determine the decision but allows the decision-makers to exercise their judgment. Leaders as decision makers are the information agents who can master information to capture not only just knowledge but business insight, well mixed with the right amount of guts, in order to make effective decisions timely.

Leadership qualities or detailed responsibilities for dealing with information may depend on the specific role. For decision-making to be effective, the business leaders as the decision-maker must have relevant information and enough knowledge to make their decisions rich in information and significantly different from the available data. When information has been used to make an informed management decision to develop the right product, enter a new market, exploit a new channel or have the information to be able to conduct day to day operations (which have an output value) etc, information becomes the true lifeblood of the business.

Leaders as “informationer” can connect people with the right information to either generate new ideas or drive changes: The pervasive digital transformation means “reduced time to information and knowledge.” The art and science of information management are to optimize its usage, to ensure that accurate information is accessible and shared within relevant business units, achieve its value and full potential. In practice, put the right person that knows how to lead (evangelize) the effort and bring the users to the information that will allow them to create the knowledge to change the way business is run.

In the human context, information drives awareness, it can also trigger a sense of confidence, confirmation, validation, verification. Both Information and Knowledge are not equal to insight, but they are the foundation to capture insight. Companies generally should have a set of well-defined GRC rules on information management to make sure that people are able to find, reuse, publish, refactor and refine information to capture business insight or co-develop new knowledge. The ultimate goal of holistic information management is to guide the company forward by capturing business insight, identify and assess risks and adjust the business speed for accelerating business responsiveness and performance.

Top executive team needs information-based analytics to gain business insight and improve organizational maturity: The more the team members share the knowledge, the better the results. An intelligent organization always looks for opportunities across the business to increase the usage of predictive analytics, social analytics, and collaborative decision making accordingly. Information-based analytics doesn’t just serve up pretty charts and graphs, but helps businesses focus on crucial problems, look for insights, leverage imagination, set priority, make validation and predictability, bring transparency and create internal competition among new ideas, grasp opportunities to innovate products and services offerings, and generate new business models continually. Information-based analytics in real-time coupled with a powerful rules engine poses a challenge to the market with the prize being people centric and information savvy.

From an innovation management perspective, information is a crucial ingredient of innovation, the abundant information can be refined into business foresight and customer insight that provide the very clue to connect wider dots to stimulate great ideas, and build the business competency model. Technically, leaders as “informationer” identify how information is associated with the valued tangibles of businesses; products, services, and resources; how it triggers novel ideas, looking deeply into the future based on predictive analytics can have a profound effect on where you go, and how you get there to build business innovation competency.

Leadership is about setting directions, making positive influences and inspiring progression. It’s a psychological phenomenon. The qualitative digital leaders today must be very open to information, desire for insight, and hunt for wisdom. Great leaders have their version of the playbook and their handy toolbox to process information, capture business insight and improve leadership effectiveness and maturity.







2 comments:

Very informative blog and useful article thank you for sharing with us,
by cognex is the AWS Training in Chennai

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