Information management skill has never been so important in the past as it is now. What is news now, quickly become outdated in the next few minutes. Managers always find themselves in a tight corner trying to grasp with as much information as is possible for them to get. Business managers has been exposed with more resources to the extent that of “data” is no longer an excuse for not making an informed economic decision but, inappropriate use of those data.
Business managers are faced with the challenge of effectively and efficiently managing their information need. Development of Business Intelligence (BIs) by different software vendors has been on the increase. Competitors activities is always calling for the attention of the business manager. Our customers are constantly demanding more information concerning our products more than we can relinquish for the fear of our competitors.
Amid all these challenges, what will a business manager DO and NOT DO to to excel in the area of information management? Listed below are important steps that a business manager needs to remain competitive in this “information jet age”:
(1) Constant refinement of the information selection (filtering) skill. Managers should improve on their necessary information filtering skill. Never waste your time analysing every data that comes your way unless you have all the time in the world. See how this can be done in the next paragraph
(2) Deployment and good use of state of the art technology. Business Intelligence (BI) is a good tool to use. BI when plugged into a system that filters information to the need of the manager can help reduce the amount of work that the manager needs to do on information management.
This is important because the amount of information that floods the desk of an average manager per day cannot be utilised to the tune of 5% of the whole information. Many of these tools requires you to impute certain keywords/variables/tags as a criteria for filtering your information needs. Though this on its own tends to create a fresh problem of possibly filtering useful in formation that does not contain the criteria for selection and allowing the useless ones that contains the variable(s) stated in the selection criteria. This problem can easily be taken care of by quickly glancing through the blocked data before they are finally discarded. As a business manager, never ignore the emergence of new technologies. Always embrace them.
(3) Develop the skill of getting information from informal sources. It was once reported that a cleaner in a factory help the company save up to 21% of their running cost by asking them to always turn off the lights in the factory where robots are used for production since they don’t need light to work. Never be too rigid in your judgement criteria. As a manager, see every employee as a potential vital information provider. In fact, always ask for their opinion (this will not only give you useful information but will help motivate your subordinate and they will love and respect you for this)
(4) Work with the trend: This will save you a lot of headache trying to analyse one data or the other. Most of our business information needs are embedded in the trends. Remember that the trend is your friend.
(5) Securing your information: Company’s vital business secrets not not be leaked out for any reason. Try as much as possible to get them best hand and tools to manage this aspect of your business. And make sure you treat them well.
While you get busy with your information management, never forget to: Get motivated, Stay Motivated and Enjoy all the good things of live.