In developing an Information Strategy there are a multitude of questions that arise and decisions to be made. Many of the questions to be asked may be difficult to get answers to, perhaps even more difficult is to implement what is being suggested.
Below are 5 key questions to ask yourself on how you manage information within your company:
1. How is the information gathered?
Analyse how information is gathered with an emphasis on when it’s gathered, from where and what is done with the gathered data.
2. Where is the information stored?
Try to establish if there is a central storage solution for information or if there are islands of data scattered across the company with each department having its own repository.
3. How is the information used and accessed?
Determine who is using the information and for what purpose. How the information is being accessed and if the information is relevant for a smaller group of individuals or companywide, should indicate how widely available the information should be.
4. How is the data quality and integrity assured?
Not all information is good information. The ease of which information can be changed could have a negative impact on data quality and integrity. Analyse the processes for maintaining these two key objectives. Ultimately, incorrect data could result in poor decision-making around the company’s strategies.
5. Is the current system providing access to the right information to base decisions on?
The available information is only as good as the data it is based on. Equally, decisions are only as sound as the information they are based upon. Subsequently, having access to the right information to base your decisions on becomes vitally important. But every strategy will only be as successful as the tools available to execute it.
Consider carefully the answers to the above questions and develop processes to uphold data quality/integrity and that provide access to accurate and current data to the relevant parts of the business in order to facilitate decisions that put your company ahead of the competition on a long term basis.