The Components of Information Management

Information management has four main components; 1) people, 2) policies and processes, 3) technology, and 4) data
and information. Each of these components needs to work together to ensure efficient and effective business outcomes.

People

It doesn’t matter how data-intensive a business is, people are always at the heart of an organisation. From the staff
directly involved in information management through to the creators and users of information, all information systems
depend to an extent on human involvement, as do day-to-day operations.
Building, nurturing and investing in your team’s capabilities and performance is the best way to grow organisation’s
information management skills. Organisational accountability and capacity need to be addressed at a human level,
with successful IM culture teaching people how to recognise and manage information processes and systems as critical
assets in order to drive success.

Policies and processes

The policies and processes that define information management are also integral. Implementing an IM framework will
determine accessibility to information, storage procedures and information security, along with time frames for archiving
or deleting data. A well defined and regularly reinforced framework will help to drive information and records
management best practices in order to achieve strategic business outcomes.

Technology

Technology also plays an important role and can become an obstacle to effective information management in
organisations. As the number of applications available to businesses continues to grow, especially when using a suite
like Office 365, a framework will help to define how and where information should be stored, accessed and used.
Effective technology and line-of-business applications will enable information discovery when required and support
information sharing, integration, and analysis throughout the information cycle.

Data and information

While it might go without saying, data and information they also play a critical role in information management. Data
and information along with people, policies, and technology, all contribute to effective utilisation of an organisation’s
intellectual property. Well-defined, strategic information management objectives can have a direct and lasting impact
on achieving business objectives.

Why Information Storage?

“Digital universe – The Information Explosion”

 21st Century is information era
 Information is being created at ever increasing rate
 Information has become critical for success
We live in an on-command, on-demand world
Example: Social networking sites, e-mails, video and photo sharing website, online shopping, search engines etc

Information management is a big challenge

 Organization
Protect Optimize
seek to Store

Information Management Objectives

The success of your IM program can be measured against to eight key information management objectives, from data
accessibility and value considerations through to security, compliance, and collaboration. While each enterprise has
different requirements from its information, the same key information management objectives can be defined across
sectors and industries.

Objective 1: Organizing information so it’s easy to find and utilize

Information architecture (IA) is the structure of information within an organisation and is what information management
relies on to ensure efficient information security, fundability, usability and interpretation. According to the Information
Architecture Institute, IA is about “the practice of deciding how to arrange the parts of something to be understandable.”
Information architecture is everywhere; in websites we access, the apps and software we use, the printed materials we
read, and even the physical places in which we spend time.

The structural design of digital environments affects every aspect of business operations. Effective information
architecture will empower and aid business decision making, support and enhance business operations, and be flexible
enough to change alongside evolving business requirements.

Objective 2: Protecting and securing enterprise information

Effectual IM is also dependent upon on the protection of information, which overlaps somewhat with IT and has
important implications for data and information privacy, security, cyber security, and the decommissioning and archiving
of old technology.
Enterprises in Australia have an obligation to protect their sensitive information, especially personal indefinable
information (PII), and are required to comply with relevant laws and regulations such as the Notifiable Data Breaches
(NDB) Scheme introduced to Australia in 2018. Under this scheme, all individuals affected by a data breach are
required to be notified by the organisation who was breached. Having a response and remediation plan in place in case
of a breach is absolutely critical, with organisations needing to protect against cyber-attacks, accidental breaches and
unauthorised access of information. According to cross-industry studies, more than 70 per cent of employees have
access to data they should not.

The decommissioning and careful archiving of old technology is also important, as it often contains sensitive information
that could be poorly secured and preserved after it’s no longer in use.

Objective 3: Maximizing the value of organizational information

In their 2012 feature on big data, Andrew McAfee and Erik Brynjolfsson describe the opportunities provided by focusing
on information value. According to the report, “companies in the top third of their industry, in the use of data-driven
decision making were, on average, 5 per cent more productive and 6 per cent more profitable than their competitors”.

Objective 4: Managing and mitigating operational risk

Like other areas of a business, an effective information management strategy will identify, assess, evaluate and
mitigate risks. Businesses face numerous IM related risks every day, including non-compliance to regulatory
recordkeeping requirements, unauthorised data destruction, cyberattacks, data breaches, and lost or leaked intellectual
property (IP) or other valuable information. Depending on the business and industry sector, there may also be risks
associated with the inability to find information related to a legal proceeding or Freedom of Information (FOI) request.

According to data from The Office of the Australian Information Commissioner, Australians were targeted in more than
300 major data breaches during the first six months of 2018 alone, impacting millions, and these stats continue to grow
in 2019.

Objective 5: Ensuring regulatory and legislative compliance

Business information is subject to regulations and legislation governing how it should be collected, managed, used,
and disposed of. Consider the GDPR policy or Australia’s Spam Act 2003. The obligation of maintaining records is a
part of every modern business, regardless of size or industry—considers tax filings, employment records and financial
records. To what degree recordkeeping is required depends on the industry. Government organisations have an even
greater responsibility as they serve the public. Non-compliance poses a significant risk to organisations that needs to
be addressed in order to avoid legal, financial and PR ramifications.
In order to minimise risk, it’s critical to understand the various policies and legislation affecting your business, which
often covers a lot of ground.

Objective 6: Effectively managing the lifecycle of information assets

An information management strategy provides the framework, policies, procedures, and processes to manage
information throughout its lifecycle. It considers the people, processes and technologies required to help to protect,
manage and extend the value and usefulness of information. Lifecycle management focuses on developing a better
understanding of how information is created, managed and used within an organisation, and looks for ways to reduce
inefficiencies and prioritise usefulness over time.

Objective 7: Promoting and supporting collaboration both internally and externally

Collaboration, communication, and information sharing have become vital to modern enterprises, especially in
organisations where the workforce is spread-out, work remotely or on-the-go. The ongoing evolution of the Internet has
led to the proliferation of networks and technological solutions that promote collaboration. Cloud-based software
packages, like Office 365, have become ubiquitous in the modern workplace, providing collaborative tools such
as Microsoft Teams, Yammer and SharePoint.
Promoting and supporting collaboration depends on flexible technology platforms that enhance the flow of information,
along with the application of policies and frameworks that outline how employees, customers and partners should
collaborate. According to findings from Harris Interactive Knowledge Worker Survey, 83 per cent of those surveyed
lose or waste time each day on document collaboration issues.

Objective 8: Enabling business process automation through data integration

A substantial benefit of implementing an effective information management program organisationally is the increased
opportunities for business process automation, which is enabled by the provision of consistent and high quality data
across business applications. Cross system business automation processes can be more easily developed using
published API’s and Web Services made available through increased data interoperability. This presents opportunities
for businesses to utilise Citizen Developers to create loosely coupled but integrated business solutions without the
need for costly specialist programmers, coding or tools.
Activity (L2). Describe the Components of Information Management

Directions: In order to have a successful information management (IM) program it can be measure against
the 8 key components of Information management objectives. Create your own IM based on the guide
question below:
1. Think about 3 minutes of instance when you use your knowledge.
2. Consider the organization you had a work experience. What was/their information approach and
strategy to be accomplished?
3. Provide a conclusion.

POLICIES AND PROCESSES (atleast 2 policy)

TECHNOLOGY (What kind of technology to be

used?)

DATA AND INFORMATION (What are the data’s to

be gathered?)

PEOPLE (Who are involved?)