The world is buzzing with data, and you can readily acquire systems that provide a wealth of information – but what do you really need to know?
With a background in finance and Information Systems, I have a simple approach to this issue:
- Only collect data if you can turn it into useful information
- information is only useful if you use it to inform your decisions.
To check whether your organisation could benefit from this approach, how about asking yourself the reverse:
- Do you ever make decisions without adequate information, or in conflict with it?
- Do you ever use information that is based on incomplete or ambiguous data?
My approach will bring you to the point where:
- you are clear where you want the organisation to go
- members of the team have access to information systems that indicate where they are, and where they are heading
- individuals make decisions based on considered interpretation of sound information, gathered from valid and complete data.