The field of Information Management is at an inflection point. More than 10 years into the adoption of information management programs, our survey shows that a large majority of companies are not achieving the full value of their programs. Most organizations are focused on technology and the compliance aspects of information management. Few, however, view it as a way to grow their business and differentiate themselves from competition.
Specifically, five areas need complete overhaul:
Connecting the programs with demonstrable, tangible business value
Going beyond the governance mindset
Modularizing the program
Deploying an integrated end-to-end software solution
Making the program scalable, consistent, permanent, and sustainable
These areas impact the credibility, legitimacy, and sustainability of Information Management programs. The solutions proposed in this position paper are practical, based upon real world experiences, and designed to address the above critical failures.
AlyData specializes in launching enterprise level information management, Business Intelligence, and Big Data programs – and while we do feel both sympathy and compassion, we know that solutions exist to address the overall existential and legitimacy issues of data programs. The problem is that information management professionals have not addressed the five greatest challenges of information management programs.
Challenge #1: Where is the Business Value?
Sales and Marketing increase the revenue line, while operations and supply chain focus on cost management and operational excellence. Both contribute directly to the bottom line. But when it comes to information management programs, we often fail to connect our scope of work with the bottom line.
What should you do?
Don’t focus on what information management is; focus on what information management does. Link it with revenue, cost, and risks and apply measures to evaluate its actual impact on shareholder or stakeholder value creation. We have developed and successfully applied a methodology to determine the value impact of information management and Business Intelligence programs. Make this the first step of the program. Don’t do it as an afterthought. There is a scientific way to do this and if you do it right, it will give instant credibility to your program.
Challenge #2: Are you still trapped in the governance mindset?
Your presentations regarding information management’s value keep falling on deaf ears. You receive these blank stares and even when people get what you are trying to do, they gently smile and shake their heads as if saying “ok, here’s another one of those compliance activities”. The problem is ours and of the Body of Knowledge that has made the entire field of information management academic, overly complex, and compliance centric. We are viewed more as a big brother than a co-value creator.
Solution:
Your job is not to be a big brother, carry a whip, and seek compliance. If you want to be successful, you need to make your programs such that businesses and departments in your company naturally gravitate towards you. Instead of calling them “Governance Programs'' when we implement these programs we ask our clients to call them “Operational Integrity Improvement Programs”. We design the programs in a manner where they are tightly integrated with business processes and outcomes. It goes back to the first point, focus on what information management does, not what it is Reshaping Traditional Information Management Programs.
Challenge #3: Is your program structured and modularized?
Developed by academics and adopted by newly founded organizations, the body of knowledge and the information management bibles address every possible avenue of information management activities. Even though they are as detailed as encyclopedias, when it comes to applying a practical, pragmatic methodology – there is nothing to guide us.
Solution:
We have designed a five step program that can be used to implement a comprehensive, end-to-end program for information management. This program has the following steps: 1) Link to Value; 2) Diagnostics; 3) Shielding; 4) Surveillance; 5) Innovating. While all the “under the hood” parts such as governance, master data management, metadata management, data quality etc. are included in the program – our unique program focuses on“what information management does, not what it is”. It prioritizes and implements the program efficiently in such a manner that the activity interdependencies are understood. Again, your customers don’t need to know about the details under the hood – they only need to get the driving pleasure.
Challenge #4: Are you using end-to-end automation?
Ask for a Customer Relationship Management (CRM), or Enterprise Resource Planning (ERP), or Supply Chain Management (SCM) program and you get standard software in terms of functionality and business process. Regardless of which vendor you call, the fundamental functionality would be very similar. Now try implementing information management software and you will hear hundreds of different stories. The problem is that no one has been able to build and deploy integrated end-to-end information management software.
Solution:
We have configured a commercial product that can achieve the end-to-end goals of an information management program and link it to business value. It goes hand-in-hand with the program and follows the 5 steps of the Information Management program presented in Pitfall 3. The software accomplishes automation of the key processes and has the power to demonstrate business value on an ongoing and consistent basis.
Challenge #5: Achieving Consistency, Scalability, and Permanency Is information management a fad?
Would it disappear into the folds of corporate overhead augmenting programs or would it emerge as a value added business function that is here to stay? Given the manner in which information management programs are implemented at present, clearly the answer to this question is uncertain. But that can change! We need to figure out how to achieve scalability and permanency of the program.
Solution:
If you follow the program steps as indicated in the first four critical failures, the program will become both scalable and sustainable. In addition, you must innovate and expand the program to include Business Intelligence and Big Data Analytics projects (e.g. Predictive Analytics, Discovery, Prescriptive Analytics etc.). This would imply going a step farther than any program has gone to date. We have a comprehensive plan that links the successful information management programs of today with the vision for tomorrow. This plan is being used by some of the world’s leading organizations.
Information Management is a critical and central function in a business. However, practitioners have struggled with the core challenges of information management: understanding the value of information for decision making, cost savings and legality. The solution involves five key principles. Implementing these five principles will lead to measurable business value, a significant reduction in time-to-value and tangible return on investment.
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