What is the difference between Information Management (IM) and Knowledge Management (KM)? How about data management and information governance? This blog discusses each of these concepts and how effective business knowledge management directly affects the organization's productivity and ability to create value.
Information management requires three elements:
1. Enterprise policies and guidelines for retention, disposal and ownership of information assets. These policies and guidelines rely on legal and critical business requirements to set guidance on what is retained and disposed, who the owner/s are and identifying the "authoritative source".
2. IT policies and data storage. IT policies help to define business owners of information, naming conventions, archiving and disposal techniques.
3. Broader access to information. The issues with information overload are that people cannot find what they need, and when they give up the search , they either recreate the information or they get others involved in looking for it.
All companies use information to set strategies and accomplish business objectives. Information is therefore key to any business or organization but how many of these companies would say they are getting maximum value from information? Our guess is not many.
Effective information management results in:
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