Information must be well managed to be useful

Information has become such an important organisational resource that it is regarded in some organisations to be as valuable as money, materials, people and capital assets.

"However, in very few organisations is information properly managed as a corporate resource," says Martin Rennhackkamp, information specialist at Prescient Business Technologies.

Addressing delegates at SAS Forum 2003 held in Johannesburg recently, he said that organisational resources are divided into money, manpower, machines, material and information. For each of the four Ms, there are a host of systems, software products, procedures, controls and management systems in place. But there are very few systems and procedures in place on an organisational level for that critical element - information.

Rennhackkamp quoted the definition of information management, as they use it in the Information Management Forum at Old Mutual, as the deliberated, orchestrated and integrated management of the organisation's information resources to successfully support the business's operational, tactical and strategic objectives. Properly managed information, adds Rennhackkamp, has integrity, enables operating efficiency, is available when and where required, enables decision-making and supports business intelligence and knowledge management initiatives.

"How stable and effective would an organisation be if its finances were managed like its information, or if its products were catalogued like its information?" he asked.

Rennhackkamp maintains that successful implementation of a properly deployed information methodology will result in satisfied users, intelligent decisions, real value-add and return on investment (ROI).

"But, to be successful, business drive and buy-in, complemented by good technical skills, a methodical approach with sound governance and IT-business teamwork, is essential."

In determining where to start managing the organisation's information, he says it is necessary to adopt an implementation approach that includes information custodians, such as data stewards and data owners, with roles and responsibilities.

"Aspects such as information architectures, data quality and metadata are crucial," Rennhackkamp explained.

In addition, information management should be governed by technical and information architectures using best practice methodologies to ensure business information readiness, enterprise-wide conformation and metadata certification.

"Management, stakeholders and role players need to be educated so that information is acquired, stored, maintained, distributed, delivered, utilised and disposed of efficiently and effectively," he concludes.