The real-time information management involves the use of technologies to process information timely, with the aim of optimizing the value that is generated and operating a smart business.
Forward-thinking companies across the vertical sectors claim they are in information management, the ability to explore intangible information assets today becomes far more decisive to build competitive business advantage for the long term.
Information quality, reliability and consistency: The exponential growth of information brings both opportunity and risk that organizations across sectors need to deal with effectively. It is a basic way humans cope with the thousands of bits of stimuli that we encounter - information being only one. By “quality information, ” it means clean, organized, actionable data from which to extract relevant information and insight. Work hard on consolidating, modernizing, integrating, optimizing data to improve information quality.
Often, inconsistent or broken business processes result in significant information inconsistencies which causes dysfunctional processes or decision ineffectiveness. data/information management should clarify some critical concerns by making a set of inquiries such as: what data do you have, in what format and the location & method it is held. Information quality means quality data, quality management, and quality measurement. Thus, information quality, reliability, and consistency can be achieved via effective information management to consistently process, refine and deliver quality information to achieve its value in both qualitative and quantitative way.
Information fluidity, contextualization, relevance: Information is not static, it permeates everywhere in the organization and within its ecosystem. The business context is an important attribute of information quality. Information can be transformed, aggregated, derived for various business needs, each with possibly their own views on what the expected definition and quality of the data should be. Information is not always current, it could be outdated much faster than what you thought about. Hence, you need to continue capturing, sharing, updating information, keep it relevant, and understand the contextualization to reach its value that helps to make better decisions for solving related problems.
Information applies to the context and environment in which decisions are made. Functional silos, overly rigid processes, or outdated best practices are all root causes of poor information management. To keep information relevant and fluid, an essential role for information management is the need to connect ideas but also people, coach people in swimming in the information ocean swiftly, organizing their personal information mastery and collectively engaging with others for collaborative and creative problem-solving.
Information accessibility, availability, usability: An information system is a business-centric system that deals with information management for collecting, storing, processing, and delivering information, makes information available, accessible, and useful for making good decisions, generating innovative ideas to either grow the business or delight customers. If the information is unavailable, inaccurate, lost, stolen, or compromised, it will hinder the achievement of business goals and even mislead the business in the wrong direction.
If you have a real problem to solve, most likely the information you need is not available or has to be created by yourself. In the information savvy organizations, information assets and resources need to be centralized, reallocated, updated, or replaced if needed to improve business effectiveness and efficiency. More attention needs to be placed on the conditions that allow information to flow and generate value rather than try to manage or control, ensure transparency and visibility, enable trust and reliability, and make sure the right people at the right position can access and use the right information wisely to drive business changes timely.
Information in the digital era has the very characteristics of velocity, variety, and viability. The real-time information management involves the use of technologies to process information timely, with the aim of optimizing the value that is generated and operating a smart business.
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