14 Apr Information Management Considerations
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Information Management recognises the value of information, along with the responsibility that goes with it. There are responsibilities for maintaining the confidentiality, integrity, availability, and compliance to standards of that information. But there is massive value that can come from being able to support staff, serve customers and generate shareholders and community outcomes.
Some of the considerations in Information Management include the following.
Information and knowledge management strategy.
To leverage and gain compliance with your information assets. Are you guiding the investment and actions that will maximise the value and protection of your organisation’s information at the same time? Effective Information Management will enable your organisation to achieve improved business performance. There are benefits:
- Staff being able to share their information, knowledge, and expertise.
- Develop the right capability and culture.
- Maximise the availability and value of information.
- Deal with massive growth in the volumes of enterprise data.
- Assure the protection of data and intellectual property.
- Address the proliferation of information systems.
In essence good information management means starting with the priority business needs first.
Content, documents, and records management
As organisations embrace the digital age, they are facing increasing challenges with content creation, management, and distribution. This includes both paper-based content as well as digital content. Accurately defining the capture, management, use and access of information is crucial to support staff in not making mistakes through accessing the wrong versions, misfiling, accidental deletion, and other errors. Out-of-date and duplicated information can cause the wrong decisions to be made, create compliance, and risk issues, and misinform customers.
Good content, document and records management goes beyond simply the ‘systems’ and gives considerations to the practices that create, access, use and store information across all business activities. A unified view of information recognises employees’ role in content related functions, effectiveness, efficiency, compliance, and continuity.
Interested in the quality, timeliness, accuracy, leverage, and security of data. Businesses face an increasing set of challenges of managing growing data volumes, the need for improved data quality, security, and integration of data, addressing the big data challenge and supporting potential cloud strategies. Wide and diverse sources of data are now available. And specialised ways of drawing insights from that data, such as algorithms, machine learning, and artificial learning. And finally, presenting this data via dashboards, mobile solutions and in multiple dynamic ways.
Good Data Management transforms data into information, which is then transformed into insights and hopefully leads to effective decisions. It requires understanding the availability and potential use of data to support decision making, organisational performance, improved productivity, and growth.
Organisations need useful insights and answers to questions before decisions are made. Performance Analytics provide an organisation with the meaningful information it needs, at the right time, presented in the right way. With the increasing amount of both structured and unstructured data (within the organisation and external to it) it can be an overwhelming task to harness this information and create meaningful insights.
If done well, it can guide financial management, strategy development and decision making. Having access to the right data and the right tools, enable organisations to discover new ways to strategise, plan, optimise business operations and capture new market opportunities.
Good information management combines technological innovation and intelligent processes around that information. This marriage of technology and processes delivers cost savings, compliance and data protection as well as uncorking the value available and making that repeatable and reliable.
In considering the implications of Information Management on technology we are aiming to bring unstructured information into a managed framework; ensuring that all information becomes a record of a business transaction, meaning that the protection of that information is managed with the same business rules, policies, security, and governance. This will allow for a single point of reference for an organisation’s information assets regardless of the varying technologies.