Lecture 3 - How to Manage Information as a Strategic Asset v10

8/4/2019 Lecture 3 - How to Manage Information as a Strategic Asset v10

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How to Manage Information as aHow to Manage Information as aStrategic Asset Strategic Asset::

Lecture 3Lecture 3Master of Computer Science

Course: Technology / Knowledge Management



Universitas Budi Luhur Universitas Budi Luhur -- Lecture 3Lecture 3 22

Information can add value to your products andInformation can add value to your products andservices.services.

Improved information flows can improve theImproved information flows can improve thequality of decision making and internal operations.quality of decision making and internal operations.

Understand the cost of a lost opportunity, of a poorUnderstand the cost of a lost opportunity, of a poorproduct, of a strategic mistakeproduct, of a strategic mistake --

all risks that can be reduced by using theall risks that can be reduced by using theappropriate information.appropriate information.

1.U

nderstand the role of Information1.U

nderstand the role of Information




Developing value from information resources isDeveloping value from information resources isoften a responsibility that falls between the cracksoften a responsibility that falls between the cracksof several departmentsof several departments

the user departments in different business units,the user departments in different business units,

and corporate planning,and corporate planning, MIS units or librarians.MIS units or librarians.

2. Assign Responsibility for Leading2. Assign Responsibility for Leading

your IRM Initiativeyour IRM Initiative




Policies for ascertaining information needs,Policies for ascertaining information needs,acquiring and managing informationacquiring and managing information throughout itsthroughout its

life cycle.life cycle. Pay particular attention to ownership, informationPay particular attention to ownership, information

integrity and sharing.integrity and sharing.

Make the policies consistent with yourMake the policies consistent with your

organizational culture.organizational culture.

3. Develop Clear Policies on3. Develop Clear Policies on

Information ResourcesInformation Resources




Identify current knowledge and information resources (orIdentify current knowledge and information resources (orentities), their users, usage and importance.entities), their users, usage and importance.

Identify sources, cost and value.Identify sources, cost and value. Classify information and knowledge by its key attributes.Classify information and knowledge by its key attributes.

Develop knowledge maps.Develop knowledge maps.

As knowledge management gains prominence, this is As knowledge management gains prominence, this issometimes called a knowledge inventory "knowing what yousometimes called a knowledge inventory "knowing what youknow".know".

4. Conduct an Information Audit 4. Conduct an Information Audit

(Knowledge Inventory)(Knowledge Inventory)




Make sure that key decision and businessMake sure that key decision and business

process are supported with high leverageprocess are supported with high leverageinformation.information.

Assess each process for its information Assess each process for its informationneeds.needs.

5. Link to Management Processes5. Link to Management Processes




6. Systematic scanning6. Systematic scanning

Systematically scan your business environment.Systematically scan your business environment.

i.e. legal and regulatory, political, social, economic andi.e. legal and regulatory, political, social, economic andtechnologicaltechnological --

as well as the inner environment of your industry,as well as the inner environment of your industry,markets, customers and competitors.markets, customers and competitors.

Provide selective and tailored dissemination of vitalProvide selective and tailored dissemination of vitalsigns to key executives.signs to key executives.




True patterns and insights emerge when internal andTrue patterns and insights emerge when internal andexternal data is juxtaposed, when hard data is evaluatedexternal data is juxtaposed, when hard data is evaluatedagainst qualitative analysis.against qualitative analysis.

Tweak your MkIS system to do these comparisons.Tweak your MkIS system to do these comparisons.

A Market Intelligence System (MkIS) is one that A Market Intelligence System (MkIS) is one thatsystematically gathers and processes critical businesssystematically gathers and processes critical business

information, transforming it into actionable managementinformation, transforming it into actionable managementintelligence for marketing decisions.intelligence for marketing decisions.

7. Mix hard/soft, internal/external7. Mix hard/soft, internal/external




8. Introduce mining and refining8. Introduce mining and refining

processesprocesses

Good information management involves 'dataGood information management involves 'data

mining', 'information refining' and 'knowledgemining', 'information refining' and 'knowledgeediting'.editing'.

Y ou can use technology such as intelligent agents, Y ou can use technology such as intelligent agents,to help, but ultimately subject matter experts areto help, but ultimately subject matter experts areneeded to repackage relevant material in a userneeded to repackage relevant material in a userfriendly format.friendly format.




One useful technique is content analysis,One useful technique is content analysis,

The classifying, synthesizing and refining of The classifying, synthesizing and refining of

information combines the crafts of theinformation combines the crafts of theinformation scientist, librarian, businessinformation scientist, librarian, businessanalyst and market researcher/analyst.analyst and market researcher/analyst.

Y et many organizations do not integrate

Y et many organizations do not integratethese disciplines.these disciplines.

8. Introduce mining and refining8. Introduce mining and refining

processesprocesses




9. Develop Appropriate Technological9. Develop Appropriate Technological

SystemsSystems

Take advantage of technology such as intranet,Take advantage of technology such as intranet,

groupware, groupware,

make more possible the widespread sharing andmake more possible the widespread sharing andcollaborative use of information.collaborative use of information.

Advances in text retrieval, document management Advances in text retrieval, document management




Telecommunications, office systems, publishing,Telecommunications, office systems, publishing,documentation are converging.documentation are converging.

Exploit this convergence through open networking,Exploit this convergence through open networking,

Using facilities such as the World Wide Web, not Using facilities such as the World Wide Web, not

just for external information dissemination but for just for external information dissemination but forsharing information internally.sharing information internally.

10.Exploit technology convergence.10.

Exploit technology convergence.




Information acquires value when turned into intelligence.Information acquires value when turned into intelligence.

Market Intelligence Systems (MKIS) are human expert Market Intelligence Systems (MKIS) are human expert--

centered.centered.

Raw information needs interpretation, discussing andRaw information needs interpretation, discussing andanalyzing teams of experts, offering different perspectives.analyzing teams of experts, offering different perspectives.

This knowThis know--how sharing is a hallhow sharing is a hall--mark of successfulmark of successfulorganizations.organizations.

11.Encourage a Sharing Culture11.

Encourage a Sharing Culture

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Lecture 3 - How to Manage Information as a Strategic Asset v10