Often the crucial point in any business case for a software solution is revolves around management of data & information relating to specific aspect of business. Whether it be a new website for an e-commerce organisation or even a new landing module for a space shuttle, the one thing all these software solutions will have in common is that they will both require access to data and the ability to transform data to usable and actionable information via various algorithms to perform tasks.
The information Economy
Information is of vital importance to any modern organization. The survival of most businesses today hinges on the quality and value of the information it has access too. In many respects information has become the currency of the modern world. The collection and the retrieval of data has become the standard to which this new currency is to be based.
What is Data?
Data can defined at its simplest form as an arbitrary collection of facts, such as numbers, words, measurements, observations, messages, pictures or even just descriptions of things.
What is Information?
Information is the result of investigation, analysis and the delivering a summary of the data. Data is used to derive information and information can be used to derive data. The two concepts are often used interchangeably
What is Information Management?
Information Management is the process of managing information as a strategic resource for improving organizational performance. Information Management is the process of developing strategies and introducing systems and controls to improve information quality to deliver value.
Information systems are omnipresent in organisations enabling them to Collect, Process and store data. Information management is about aggregating and disseminating data in the form of information needed to carry out daily business operations.
It’s a total misconception that Programmers, Web Designers, Developers or even graphic designers concerns themselves with information management. The fact is, a vast majority of them are unfamiliar with the subject. There is some overlap between software development and Information Management but they are essentially different disciplines. However, this doesn’t deter many organizations from deferring the responsibility for effective information management to programmers, when in fact a large portion of Information Management focuses on Data Analysis, teamwork, leadership, project management, customer service and underlying business theories which are not generally skills what most Computer Scientists, Graphic Designers or even the average computer geek have acquired.