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Strategies for Information Management

Strategies for Information Management. The aim s of IS Strategies are - to ensure that the organization obtains possible real value from information resources - to enable its cost effective management and protection

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Strategies for Information Management

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  1. Strategies for Information Management • The aims of IS Strategies are - to ensure that the organization obtains possible real value from information resources - to enable its cost effective management and protection • There is a growing requirement for integration of information flows at departmental levels. But, in most instances, information resides in multiple files and databases on multiple platforms. (eg. Banking Environment).

  2. Strategies for Information Management • Some information is computer based and well structured, some is not well structured and stored in PC’s. Information is created for different purposesby different peopleat different time, resulting in many conflicts and inconsistencies. • Legacy systems should to be linked with newly developed and packaged applications. Complex information exchanges exist across organizational boundaries, comprising a mixture of electronic, paper-based and verbal communication.

  3. Strategies for Information Management • Objective of Information Management The main objective of information management is to satisfy the demand for information and thus deliver value to the business. (e.g. IT/IS for banking an Insurance Companies) Value is delivered through: - enabling the business to make the right decision - improving the effectiveness of process and their outcomes - providing timely and focused performance information • improving the productivity and effectiveness of managers and staff Behind the main objective, there are further objectives relating to the cost,quality,accessibility, safety and stability of information, and other relating to the benefits that can be delivered through shared information, common definitions, models covering information and processes.

  4. Strategies for Information Management • Delivering Value to the Business Value of information can be considered in 4 different categories : - strategic : Information which is crucial to strategic and competitive business initiatives.(e.g. information about markets, competitors, suppliers to improve competitiveness) - High Potential : This is frequently new information, the potential value to business may be high, but unproven. (e.g. information related to new technologies such as video conferencing, data represent customers specific requirements) - Key Operational : Information that support operational processes and essential for day-to-day operations. (data related to orders, production, inventory …) - Support : Information contained only in support systems.

  5. Strategies for Information Management • Having the Most Current Systems • There is a huge investment in systems in most companies due to technological changes. Existing systems will continue to be used for some time since they contain necessary information and processing functionality. So, migration process to new systems is critical for IT/IS management. • It is essential to evaluate the contribution of information in existing systems. The following points should be considered in the evaluation process: - Recognition whether current systems are able to provide information to satisfy business needs - Documentation of Information Systems, infrastructure and processes. - Evaluation of the contribution of the existing systems to business objectives. - Identification of information that is transferred to / from external environment

  6. Strategies for Information Management • Providing a Stable Integrated Information Framework • To provide a stable information base several factor such as growth in volume, complexity of internal and external information needs, competition, should be analyzed. Sharing of information from a variety of sources requires considerable integration. All users can look at the same or consistent models and information. (e.g. OLTP, Replication Methods)

  7. Strategies for Information Management • Rapid Response to Dynamic Business Needs • The information frameworks should facilitate a swift response to unexpected business needs. The ability to satisfy unexpected needs provides following aspects: - exploit opportunities - counter unexpected attacks - build a rapid defense against possible competitivethreats - supply information to assess a business risk

  8. Strategies for Information Management • Improved Efficiency & Effectiveness of IS • There are a number of factors that contribute to improve efficiency: - increased investments which is required to create an appropriate integrated infrastructure - information consistency - versatile and powerful Database Systems - powerful and flexible Software Development Languages and Tools - Outsourcing Alternatives

  9. Homework 3 • Prepare 2 documents to describe - IT/IS Strategies for Istanbul Stock Exchange (ISE) Market. - IT/IS Policies for Istanbul Stock Exchange (ISE) Market You may use the following link to find information about ISE http://www.imkb.gov.tr Due Date : May 27, 2005

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