Saturday, July 31, 2021

initiate Information Management

Information is one of the most critical pieces in the innovation puzzle. Given this assertion, there is no limit to the value of information in running a high mature digital organization.

Information is permeating into every corner of the business and every perspective of human society right now. Data is physical, information is mental. The information system as the backbone of the varying business management helps to optimize the usage of information and refine information into business insight, figure out a way to optimize processes or change the mechanism, grasp opportunities to expand products and services offerings and create new business models to drive business growth.

Quality information improves the “cognitive” ability of the company: Compared to traditional organizations operated a couple of decades ago, today’s companies are inundated with heavy information flow and digital context, some structural, some unstructural; some current, some outdated. Forward-thinking organizations across vertical sectors claim they are in the information management business. They intend to leverage the abundance of information and the latest digital technologies to open up the digital way to think and do things with people centricity.

The cognitive ability of the organization depends on how effectively they can process information and make data-based, on-time decisions in a consistent way to solve problems that really matter with logical steps. It means to capture business foresight via predictive analysis, and involve new ways of bringing together diverse thoughts and resources to create novel ideas. In fact, information management becomes a crucial component which is embedded into the variety of business management such as strategy, change, or innovation. Organizational management needs to concentrate on the business information requirements that support the company’s growth. it's the value (often undervalued) of corporate information as a resource and defining how it should be used strategically to best business advantage.

Information savvy leads to customer centricity: Due to fast growing information and convenience brought by digital technologies, many companies make a shift from inside- out operation drive to outside-in people centric. Customers today become more selective and less tolerant of transaction delays or unhappy purchasing experiences. Information allows businesses to perceive customers’ behavior patterns they have never seen before. Organizations dedicate their time and resources to digitizing touch points of customer experience, exploring growth perspectives and new ways of running business. It is important to convince the shareholders of information management initiatives with solid business justification by showing them the potential business benefits to meet the strategic goal and criticality for the business of the tasks.

Employees are internal users of information, they are also information generators themselves. Optimizing employee experience is to treat employees as internal customers, engage employees at every touch point and delight employees via empathy and understanding them deeply. Business professionals also need to become information savvy, that means having a discerning mind to sort through information, identify quality information, and use it wisely to develop their competency. In fact, becoming information savvy is like a hiking journey, individually or collectively, gaining new and wider views, discovering unusual dots and building unexpected connections between our starting points and its rich environment, the digital ecosystem, to spark innovation continually.

Information-enabled processes are more intelligent and information-based business is more innovative: Process is always one of the important success factors of running a successful business. The process perspectives consist of interrelated intelligence operations: planning and direction, collection and exploitation, analysis and production, dissemination and integration. Intelligent process is the one by which information is converted into intelligence and made available to users; whereas process intelligence is the information that is extracted from a process about the process; throughput times, bottlenecks etc., also means governance, the process to management processes, such as risks, control, etc. real-time information enabled processes become necessary blocks to build dynamic business capabilities which significantly improve the organizational ability to implement its strategy with high speed.

In the human context, information drives awareness and triggers a sense of confidence, confirmation, validation, verification; information savvy leaders and professionals are able to generate fresh ideas across-disciplinarily and advocate alternative ways to solve existing or emerging problems proactively. They are information agents who can convert quality information to fresh knowledge and unique insight to drive transformative changes. The insight abstracted from information not only fuels creativity but also makes creativity more tangible and embed creativity into key processes to produce new knowledge and unique perspectives. Cross the organizational boundary, information can flow freely to keep the organization fit from collective mindset-culture, to organizational actions and behaviors, so they can make wise investments and enhance business growth cycles.

Information is one of the most critical pieces in the innovation puzzle. Given this assertion, there is no limit to the value of information in running a high mature digital organization. It involves being part of a process of listening and telling; trial and error, learning and creating; sharing and criticizing, cleaning up and refurbishing; etc. The tricky bit with information is that, depending on the level of granularity and aggregation, you can use it for multiple purposes. Not only is information interesting economic goods, but the value is multifaceted, sometimes difficult to determine, depending on the organizational information manageability.


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