Information-Driven BusinessHow to Manage Data and Information for Maximum Advantage
Information doesn't just provide a window on the business, increasingly it is the business. The global economy is moving from products to services which are described almost entirely electronically. Even those businesses that are traditionally associated with making things are less concerned with managing the manufacturing process (which is largely outsourced) than they are with maintaining their intellectual property. Information-Driven Business helps you to understand this change and find the value in your data. Hillard explains techniques that organizations can use and how businesses can apply them immediately. For example, simple changes to the way data is described will let staff support their customers much more quickly; and two simple measures let executives know whether they will be able to use the content of a database before it is even built. This book provides the foundation on which analytical and data rich organizations can be created. Innovative and revealing, this book provides a robust description of Information Management theory and how you can pragmatically apply it to real business problems, with almost instant benefits. Information-Driven Business comprehensively tackles the challenge of managing information, starting with why information has become important and how it is encoded, through to how to measure its use.
Preface. Acknowledgments. Chapter 1: Understanding the Information Economy. Did the Internet Create the Information Economy? Origins of Electronic Data Storage. Stocks and Flows. Business Data. Changing Business Models. Information Sharing versus Infrastructure Sharing. Governing the New Business. Success in the Information Economy. Note. Chapter 2: The Language of Information. Structured Query Language. Statistics. XQuery Language. Spreadsheets. Documents and Web Pages. Knowledge, Communications, and Information Theory. Notes. Chapter 3: Information Governance. Information Currency. Economic Value of Data. Goals of Information Governance. Organizational Models. Ownership of Information. Strategic Value Models. Repackaging of Information. Lifecycle. Notes. Chapter 4: Describing Structured Data. Networks and Graphs. Brief Introduction to Graphs. Relational Modeling. Relational Concepts. Cardinality and Entity-Relationship Diagrams. Normalization. Impact of Time and Date on Relational Models. Applying Graph Theory to Data Models. Directed Graphs. Normalized Models. Note. Chapter 5: Small Worlds Business Measure of Data. Small Worlds. Measuring the Problem and Solution. Abstracting Information as a Graph. Metrics. Interpreting the Results. Navigating the Information Graph. Information Relationships Quickly Get Complex. Using the Technique. Note. Chapter 6: Measuring the Quantity of Information. Definition of Information. Thermal Entropy. Information Entropy. Entropy versus Storage.
ROBERT HILLARD is an original founder of MIKE2.0 (www.openmethodology.org), which provides a standard approach for information and data management projects. He has held international consulting leadership roles and provided advice to government and private sector clients around the world. He is a partner with Deloitte with more than twenty years' experience in the discipline, focusing on standardized approaches to information management, including being one of the first to use XBRL in government regulation and the promotion of information as a business asset rather than a technology problem. Find out more at www.infodrivenbusiness.com.
"The question that any organization needs to ask itself is whether it is using information to create the most dynamic, responsive, and adaptable enterprise possible or is it using information to satisfy the need for power by a privileged few?" —from Information-Driven Business: How to Manage Data and Information for Maximum Advantage Managing information has become as vital to a business as managing financial information is to its accounting functions. With information pervading every aspect of your organization—from reporting and marketing to product development and resource allocation—it only makes sense for your business to turn its data into functional knowledge that powers revenues, manages costs, and achieves a consistent level of profitability. Drawing from techniques that author Robert Hillard has applied in some of the world's largest companies and government departments, Information-Driven Business reveals how business leaders can more effectively govern, manage, and exploit their company's most important asset: information. Authoritative guidance is provided on the Internet's role in creating our information economy; measuring the quantity and usability of information; the goals of information governance; describing structured data; the role of master data management; and defining an enterprise information architecture. In almost every organization, executives and even technology professionals are increasingly being made accountable for the mountains of data that exist in databases, file systems, and other repositories. Information-Driven Business helps your business become information-centric and attain significant benefits as a result. How wisely or poorly your organization manages its information will drive its success or failure. Realize the greatest possible value for your business with the solid guidance found in Information-Driven Business. Its easy-to-apply techniques show you how to pragmatically apply it to real business problems, with practically instant results.
Praise for Information-Driven Business How to Manage Data and Information for Maximum Advantage "Robert Hillard gets it! The sheer quantity of information that is descending upon our organizations means that we can't just 'wing it' when it comes to managing information. The strategic imperative to manage information effectively is now irreversible—with devastating consequences for those who assume it is otherwise. The book provides you with a thorough understanding of how to find, control, and optimize your information assets." —Atle Skjekkeland, Vice President, The Association for Information and Image Management (AIIM) "Information-Driven Business takes a highly complex subject like information theory and makes it far more accessible for the general reader. It is truly a call to action for an effective transition to the new information economy. If you are a student preparing to join the workforce, a seasoned information management professional, or an executive looking to make your business thrive through better information, you'll benefit from Hillard's innovative thinking and pragmatic recommendations." —Sean McClowry, Senior Vice President, Knowledge Management, Global Carbon Capture and Storage Institute "The book brilliantly combines a broad historical view of information management foundations with cutting-edge advances in information governance, including the notion of Economic Value of Information the author pioneered. Information governance metrics: what are they? The book provides some unique answers to this very important question. This is a great book for business executives, information technology professionals, and others who want to better understand the role of information in our society and for the corporate world." —Lawrence Dubov, PhD, coauthor of Master Data Management and Customer Data Integration for a Global Enterprise Information doesn't just tell you about your business. It is your business. As data becomes more and more prevalent in businesses, leaders must find ways to leverage this asset. Even businesses that are traditionally associated with manufacturing products are increasingly concerned with maintaining their intellectual property. Information-Driven Business helps you understand this change and find the hidden value in your data. Author and information management leader Robert Hillard explains the techniques your business can apply immediately and provides the foundation on which analytical and data-rich organizations can be created. Innovative and revealing, this essential book unveils how you can more effectively govern, manage, and exploit your company's most important asset, information, with workable solutions to real business problems—and virtually instant benefits.
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