Friday, 19 April 2013

Information - a cost, a risk and an opportunity

Session on Information.

Four major drivers changing the way we collect and manage information:

1 Customer engagement. We need to know the profile of our prospective and current students, need to know them better. To do this we need to aggregate information from different sources better. Challenges in doing this include variations in data quality and different data models from different sources. There are many more ways now we engage with our customers, eg social media. How do we aggregate information from Facebook and twitter?
Need to know our customers better so we can customise and contextualise information for them.

2 Operational effectiveness and efficiency. Poor information management and poor data quality can cause duplication and inefficiency. How much data are we storing that we don't need to, or that no-one owns.

3 New revenue streams. Take data and add value to it, turn it into information. Can be valuable asset.

4 Regulation and compliance. An increasing demand on us. Includes privacy, security, accountability, governance. We need to manage our information well to ensure compliance.

Information is a risk, a cost, and an opportunity.

Data stewards - people responsible for data quality and data life cycle management - are emerging in many sectors. Some companies appointing CDOs, Chief Data Officers. Should this be responsibility of CIO?

Managing information for the sake of information is not what's needed. Need to focus on business priorities.
Need to look at what information could be disruptive, and not ignore it. Don't make mistake of music industry ignoring downloads, or travels gents ignoring ubiquitous access to fare information. Do MOOCs fall into this category?
Don't focus on traditional business intelligence reporting. Be more proactive. Use information as evidence to support decisions.
Avoid silos. Application integration is not enough, need data integration with same data models.
Don't go overboard on the "big data" thing. It's not a substitute for information management.

Information is an asset and we need to look after it. Optimise applications for information sharing and focus on making information usable.
Metadata is not an afterthought, should be at the core of information management and we need consistent semantics to define things.
Don't forget governance.

Applications come and go, information is permanent.

- Posted using BlogPress from my iPad

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