Discover what Information Management and Knowledge Management are, and how each of them helps your organization to be more competitive.
Information Management and Knowledge Management in organizations are two processes that improve decision-making. One optimizes the use of information in pursuit of the company’s objectives. The other capitalize on learning to make the organization more competitive and innovative.
In this article, we not only tell you what each one is and how it impacts but also the key to carrying out these processes efficiently.
Are data, information, and knowledge the same thing?
Data, information, and knowledge are terms we use frequently. Therefore, we consider it appropriate to specify these concepts before addressing these management processes.
Data reflect or record events linked to a transaction and are the product of the automation of operational processes. Once obtained, they can be observed and monitored.
The information arises as a result of the interpretation of these data. Through the relationship or grouping, patterns and trends are identified.
Knowledge is objective information that arises from the analysis of certain variables. Its purpose is to predict behaviors or provide solutions to recurring issues. Learning is born from experience and offers a new understanding of reality.
As we can see, the scope of these concepts is linked and mutually nurturing. Because if data management is adequate, it is transformed into intelligent information. That is the key to better decision-making in organizations.
Information Management and Knowledge Management are two parts of the same process.
Therefore, Information Management and Knowledge Management are part of the same process. However, their scopes are different within the company.
Information Management (IM) seeks to optimize the usefulness and contribution of information resources in pursuit of the organization’s objectives. In this sense, the practice of IM translates into the creation of channels and means to transmit and access information, as well as to add value to it.
The main objective of Knowledge Management (KM) is the design of strategies, processes, structures, and systems that put into action what has been learned by its members. In other words, there is no point in knowing what procedure works best or how to solve (or even avoid) a recurring problem if it is not transmitted. Therefore, experiences and learning help to build a shared knowledge base to facilitate the execution of work and accelerate innovation. It is therefore a continuous process to get the most out of the information.
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This is why IM is so important because the information is a strategic resource, an essential intangible value, and its management is key to achieving organizational competitiveness. Finally, the process completes its function when it is complemented by QA.
What characteristics should an information management system have?
IM seeks to ensure the availability of information to each person in the organization in a timely manner. To achieve this, you need appropriate solutions such as Coldview´s.
They must perform the following tasks:
Preserve, organize, and retrieve any type of information
Through a centralized repository that provides instant access to all documents regardless of their origin or format. This is possible thanks to its storage, indexing, classification, and automatic compression functionalities.
Guarantee external access to information through different channels
Organizations must guarantee access to information for employees, suppliers, and customers. For example, with support for integration with existing portals, a web portal for internal company use, and another for suppliers. Also with functionalities that allow for omnichannel communication with customers. These are some of the features of Coldview Electronic Invoice.
Update the system with respect to limitations, legislation, and conditions for the use and exploitation of information
For example, with automatic lifecycle management (ILM) that allows information retention to be managed according to internal policies and regulations in force. One of the features available in Coldview ECM.
Develop modern and flexible systems for selective distribution of information
Providing timely information to the right users requires managing and providing distributed access to all collected information. Whether by central systems or by different departments within the company.
Continuously evaluate the quality and eliminate information that is not useful
Coldview solutions safeguard the quality of stored data through automatic lifecycle management. A process that also “sheds light” on Dark Data, is that set of processed and stored information that is not being used.
Information management, a possible challenge
In conclusion, processing the enormous volumes of data generated by each transaction is a major challenge. But today, organizations can count on solutions such as those offered by Coldview to ensure the quality of the data stored and the availability of the information according to their needs.
Managing your organization’s information is possible, you just need a team of experts to help you find the right solution. We know how to do it, write us and we will tell you.
Sources:
- Choo, Chu Wei (2002) Information Management for the Intelligent Organization: The Art of Scanning the Environment. 3rd ed. Medford(NJ): American Society for Information Science.
- Contexto sobre Gestión de la Información en las Organizaciones. https://sites.google.com/site/gioinfo04/
- Hill, Michael W(2000), The impact of Information on Society: An examination of its nature, value and usage. London: Bowker–Saur.
- Itami, Hiroyuki (1987). Mobilizing invisible assets. Cambridge (MA): Harvard University Press.
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