Technology is making our lives simpler and easier to handle in many ways, affecting most parts of our lives, even if we don’t know it. From a business perspective, the pure speed of developments and advent of new technologies highlights multiple challenges around just how to manage it all effectively.
Solutions for information strategy can no longer be considered a task for the IT team to resolve in isolation from other parts of the company. Any strategy to tackle the vast amount of information a company requires and the technology to handle the information will need to be developed across all departments.
The processes for handling both the technology and the information are becoming more complex and also more important. It’s safe to say that information is now the most important resource a company has to deal with as it affects sales, marketing, finance, logistics, operations and personnel.
Decisions made by management are in the majority of cases based on reference to data and the information contained within. Just imagine having to decide which customers are most profitable, prospects are the most valuable or partners that are the most efficient; all without being able to access relevant information that would underpin these decisions.
However, information will not work for the benefit of your company without practical implementation and likewise the strategy cannot be developed without the direction provided by key information.
Together these two parts can determine the direction of a business which will help prioritise the information needs of the business and provide a competitive advantage to build on.