Intelligent information management is about content analytics, context, semantic understanding, so-called Smart Process Applications, automated interpretation, cognitive systems, smart connectivity with information flows, intelligent document recognition, algorithms – and, indeed, artificial intelligence overall (the only way organizations can handle, let alone extract meaning and value from big – and smaller- data). What do we mean by that and why is it important? Strategic choices 4.1. Business capabilities To determine how EMA needs to evolve in order to achieve its strategic objectives and therefore how information and technology need to develop to support this, it is important to consider the Agency’s business capabilities. The impact of data breaches and stolen or compromised information is huge. And most of all: what your customers, workers, partners and other stakeholders want to do with it. Capturing and turning information into value and helping organization to get the core of the new digital ecosystem – information – right should be your mission. It was made before anyone talked about the Internet of Things, social business or the evolutions towards an algorithm economy. Are you still doing this? Information management strategies are plans that guide a company to keep its IM practices in sync, improve its processes, and prepare for the future. We couldn’t agree more. Connecting with data sources and providers: your future. Developing an Information Management Strategy is the foundation stone that should be in place before considering cost justifying or implementing EDRMS. IT Strategy creates IT Capability. 4, 2014, 5-36. Let’s close them and get strategic about it, starting with the mandate to reduce paper and up the speed of digitization. Forget about the standards and technologies behind the Internet of Things. Rather, it is about general approaches to the creation, storage and dissemination of information. Smart means informed and looking at the business challenge we seek to solve with our information management partners and solutions. Complexity all over the place. While it’s easy to focus on all that data and information ‘out there’ and within our often disconnected repositories and systems of engagement, the core question is what information do we need in order to fulfil all our objectives and optimize our business in the broadest possible sense. This article introduces ten key principles to ensure that information management activities are effective and successful: recognise (and manage) complexity. Research firm IDC urged organizations to master that famous information value chain – which also has to be differentiated – in order to gain competitive advantage in its 2015 “Information Digital Transformation MaturityScape”, report. It was even made before we talked about the critical role of information in customer experience management, digital transformation or new ways of working. This strategy also fulfills the Office of Management and Budget (OMB) requirement to provide a description of how information resources management activities … Intelligent information management enables organizations to focus on what matters most. The question in this case also becomes what we can leverage and how in order to fulfil the business objectives. Emotions, eperience and context matter and there is more than one circumstance where intuition and certainly personal experience are important. Department of the Interior . Seeing the big picture of information and information management. In this era of big data, we generate 250 terabytes of digital information each day. Prioritise Security and Privacy. The ‘intelligent’ part has several meanings of which we mention the two most important. 2, No. For instance, a heavily regulated industry like finance or healthcare might have to manage and protect certain documents to stay in compliance and avoid fines. Understanding is about intelligence. It showed that only 42 percent of respondents rated their organizations as good or very good at creating business value from information. It also wants access to information that can be used to improve healthcare and the patient experience. Information management concerns a cycle of organizational activity: the acquisition of information from one or more sources, the custodianship and the distribution of that information to those who need it, and its ultimate disposition through archiving or deletion. We should start letting go of ‘old principles’ such as having a 300-page requirement document that is almost out-of-date before even the solution is live, Atle said. The theft of hard intellectual property increased 56%. With a long list of data and cases indicating how poorly many businesses still unlock the value within the data that matter, let alone are able to properly manage it at all, it shouldn’t come as a surprise that in this reality the role of the Chief Data Officer is gaining ever more traction. Enterprise content management systems are the most common system in which businesses manage unstructured data, which includes documents, spreadsheets, and audio and video files. … Part of the CDO’s mission includes mitigating these losses. M-Files website is using cookies to enhance your experience. According to more recent research by Iron Mountain and PwC, 67 percent of European and 75 percent of North American business leaders believe they make the most of their information. Information Strategy refers to a long-term plan designed to achieve the organization’s objectives in the management of knowledge, information or data. Documents and data become information and then intelligence – or knowledge – when they are transformed, understood, enriched and connected with the business processes, people and business functions who need that intelligence with clear actionable goals in mind. Enterprise Information Management: the holistic reality of information, Information management versus (Enterprise) Content Management, When announcing it, IDC was crystal clear, IDC’s Digital Transformation MaturityScape Stage via Business Wire, Source: Managing enterprise information – meeting performance and conformance objectives in a changing information environment, The Global State of Information Security® Survey 2016, source AIIM Paper-Free Progress Measuring Outcomes, From document capture to omnichannel capture. And it doesn’t even take into account the information flows across various business divisions and functions. Information becomes even more important as an asset and economic good and the hackers and attackers are following the value. In contrast to CTO, or chief technology officer, a CDO focuses upon maximizing the value of corporate data and not just software and hardware. IDC estimates that by 2020, the digital universe will reach 44 trillion gigabytes. Far more than we think. These business priorities are essentially defined by revenue/costs/profit, your business context and – increasingly – the user and the customer (experience). And, last but not least, there is just so MUCH information and data, ever more unstructured data, big data, small data, fast data, data everywhere – it keeps growing at an astonishing pace. In the introduction we talked about the need to master the information value chain as a condition for business success. Because they understand that digital transformation is about 1) information, 2) people, 3) experiences, 4) speed/timing, 5) convenience, 6) processes/automation and 7) interconnectedness/collaboration. The bad news: it will not get (much) better, even if 2015 looks rosier than 2014. Gaps again indeed. Effective information management no longer only means having IT hardware and software resources to process and protect data and documents. AIIM’s Atle Sjekkeland recommends organisations to be more simple and smart when seeking ECM solutions for their challenges. Naturally, some kinds of businesses may find information management even more critical than others. The Building trust in the public record policy recommends that agencies create an enterprise-wide information management strategy (action 4). Two examples. Well, it isn’t. Its origins are predicated on moving ECM (and classifications based on the formats of information) towards all information and the management of that information in an enterprise-wide way, or what was called “the holistic reality of information at work in a hyper-connected age”. Data is nothing less than a core asset and information is rapidly becoming a very tangible and even disruptive one. Fortunately we don’t have to understand nor master everything at once. They will also need the leadership and tools to ensure the company follows the strategy to maximize benefits. Organizations continually recognize how critical it is to share data across business functions, and that suggests a continued need for increasing reliability, performance, and access speed for data integration, particularly in these fundamental capabilities: 1. You don’t need to know how a document scanner operates. It has led to a different view on (the organization) of capture as we’ll tackle later. Still, paper remains a major challenge in this regard. After all: if data/information is cash, capital, currency, asset and the future of your business, you would do whatever it takes to protect it and make sure you protect it, right? It’s also about trust, intangible capital, reputation and credibility, you name it. The reality is that often we don’t. In other words, it helps maximize the return on IT investments. Still, all companies need to make an investment in information management to achieve their overall business goals, which will include pleasing customers, operating efficiently, and increasing their own value. The best information management strategies do more than simply relieve companies of the burden of paper or poorly organized computer files. by Stephanie Faris There are numerous definitions of Enterprise Information Management, leaving many businesses puzzling over what the term actually means. There are many potential reasons for this: maybe we just asked the wrong questions and stored away information without seeing how it could help us reach our objectives, maybe the information sits in silos, maybe there is still too much information hidden in paper documents that need to be digitized, the list goes on. Information management plan There is an information management element to all other management plans that deals with the format and distribution of specific documentation. One of the first priorities for any business intent on getting its house … The illustration below from the paper leaves no room for doubt regarding the perceptions of respondents regarding their abilities to create this value and other parameters regarding their EIM capability. Information management is a broad term that incorporates policies and procedures for centrally managing and sharing information among different individuals, organizations and/or information systems throughout the information life cycle. Date . Data accessibility – Organizations must support a vast landscape of legacy data systems, especially due to the desire to scan historical data assets for potential business value. By continuing to use this site, you agree to the use of cookies. Information management (and in the context of this guide, Enterprise Information Management or EIM), is complex and seems overwhelming for many reasons. It depends on whom you ask in a way as information management and enterprise content management are often used interchangeably (more on the differences) and Enterprise Information Management is again something else than ‘traditional’ information management. Information Management Strategy 20 20-2022 EMA/410709/2019 Page 8/16 The table on page 9 outlines the investments in information and technology capabilities required to ensure that EMA’s business capabilities can effectively deliver the business strategy. There are so many systems and stakeholders who often use their own systems to store, capture and share important data. Information management goes cognitive and artificial intelligence. Or so it seems. CIOs and information managers have an opportunity. The latter definition is far more in line with the priorities and the goals of Enterprise Information Management. Today, many large companies have created the new position of a Chief Data Officer, or CDO, to oversee information strategy and management. Remember the good old saying that it’s not the technology that matters (nor the information management details) but what you can do with it. An economy that is characterized by a genuine information renaissance as Gartner calls it. Last but not least, and this is certainly also a topic we’ll develop more in depth, the increasing use of artificial intelligence, content analytics, connections with devices (the Internet of Things, essentially about data, automation and processes), along with self-learning and automated interaction systems, create information by themselves, fully automated and of course again in function of the goals we define. There are so many tasks, information sources, questions, critical connections and processes involved. And it’s not just about the direct costs and the theft of information. Information that gets automatically generated through analysis, interaction, devices and artificial intelligence. Traditional and new ways of information input: beyond mail. technology is a rapidly evolving field and our information management systems must adapt just as quickly to meet the challenges and capitalise on the opportunities that this evolution represents. My ability to organize information directly impacts my success. The need for information management excellence, Seeing the big picture of information and information management, People, processes, technologies: information management with purpose, Why information management should matter to management and the boardroom, Defining and redefining information management: a matter of perspective, The information value chain: realizing competitive benefits with information at the center, Information and data as an asset: between preach and practice, The lacking ability to create business value from information, Information maturity and capability: perceptions versus reality, The security gap: the value of data versus how we protect it, Intelligent information management: from records to engagement and insights, Digital transformation and how information becomes the center of a new economy, Being more strategic about information management, Strategy starts with the business and customer outcomes in mind, Going back to the source with the end goals as drivers, Strategy and prioritizing data and information: why, what and where. It’s time that we start looking very thoroughly at how to make sure that we capture, process and route the right data where it offers most value. These assets need to be actively managed to maintain and improve value. A good strategy should also not just focus upon individuals or even departments but upon the entire organization. Plain and simple. This paper summarizes benefits commonly attributable to information management applications, and presents three specific information management strategies designed to improve the project management process. Intelligent information management technology keeps documents — and information about these documents —accessible to all stakeholders. But when the IT departments today is still too often isolated and CIOs have a mentality of putting personal intuition over the intelligence acquired through data, how can we expect organizations to make the most of their data? If digital transformation will be at the center of corporate strategy it’s certainly worth diving deeper into the role and reality of information (management) in transformation. Information is at the core of the new digital ecosystem (IDC). Intelligent information management technology, Read all the articles from Garrett Hollander, The Best Way to Solve Information Management Problems of Legacy Applications, Infographic: How to Save Half Your Workday with Intelligent Information Management. Quote: “Information management (IM) concerns a cycle of organizational activity: the acquisition of information from one or more sources, the custodianship and the distribution of that information to those who need it, and its ultimate disposition through archiving or deletion”. Information management and strategy – an executive guide The need for information management excellence. It seems like the most obvious thing in the world. And in customer service, when organizations want to connect the back office (let’s say the mailroom and traditional mail) and front office, it’s because contact center agents don’t have access to the information when and where it’s needed for customer service. The research paper ‘Managing enterprise information: meeting performance and conformance objectives in a changing information environment’, published in the International Journal of Information Systems and Project Management end 2014, is clear about that. And to understand where information sits, how it travels and how to tie it to business outcomes. Simple means making it easy for users but also focusing on the essence, the core drivers. In this information age, the way that data flows between employees, customers, and applications makes almost every business a digital business. Lead to Shrinking big Cities and a Suburban Explosion what the term actually means has the... 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