Five tips for strategic information management by Tina Nunno, managing vice president, and Patrick Meehan, vice president, of Gartner

Remember, not all information matters equally

Many enterprises have developed a one-size-fits-all approach to managing information. In some cases, such difference manifests itself through policies to save all enterprise information indefinitely, or to delete all data after brief periods of time. Extreme methods of information management are rarely effective, as they treat all data and content types as equally important. Information varies greatly in importance, depending upon its content and the nature of the business. And different types of information are valuable for different periods of time.

Focus on information opportunities, not risks

Traditional approaches to information management are often designed to mitigate risk; firms respond to regulatory and compliance requirements. Unfortunately, the information that organisations are required to store is not always the same information needed to run the business. Compliance information does not make organisations competitive, since all companies in a given industry must keep the same data. Regulation is an equaliser. Strategic firms should comply with regulatory requirements, but focus their energies on the opportunities provided by information.

Cut through information glut through prioritisation

High-performing companies start by cutting through information glut. By categorising information according to value, they can better see how to apply their investments. Information compliance investments, for example, should be cost-managed, as providing compliance in excess generally adds little value and can be an inhibitor. Operational data and that which enhances the growth of the firm or competitive advantage, should be a target for information investment.

Work with business partners to identify strategic questions

What information, if your company had it, would make you more competitive or effective? What questions does your organisation most need to have answered? Business partners often know what their questions are, but do not articulate them well. Strategic questions include: Who are your most profitable customers, or which processes give you competitive advantage? The information to answer such questions often exists within an organisation’s IT systems, and requires minimal effort to answer once the key questions are identified by the senior executive team and business leaders.

Use an experimental approach to get the answers

Answering key questions often requires minimal information and investment. Using an experimental approach similar to statistical sampling can provide the answers to key business questions quickly and dynamically. Take some sample data, see if it helps answer your key questions and then apply the answers to improve performance across the firm. Strategic information management is something all IT leaders can begin doing right away.