Managing Information: What You Need and Why You Need It.

Dynami Perspective DP 2.1

Managing Information: What You Need and Why You Need It.

Our opening series for 2010 is going to be about management of information. Information is the trigger that causes virtually everything in business to happen. Processes are initiated, executed,and terminated based on information. Sometimes the information is inherent, nothing new needs to be communicated to cause something to happen. More often processes “wait” for information before something can begin. For appropriate action to take place information must have three characteristics.

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It has to be timely,

it has to be accurate and

it has to be available to whoever needs it.

All other things being equal, the company that can get timely and accurate information into the right hands at the right time will have an advantage over their competitors and an opportunity to optimize their cost structure.

Generally speaking, the industrial world has understood this notion for a long time. The scope of available technology has increased steadily over the past fifty years. Busine...