OFTW #2 : Information Management vs. Data Management
Information Management is an emerging field that is concerned I, as we know it today, includes both electronic and physical information. The organizational structure must be capable of managing this information throughout its life cycle — regardless of source or format (data, paper documents, electronic documents, audio, video, etc.) for delivery through multiple channels that may include mobile phones and online.
Is an decisions and perform their function in a cost-efficient and effective way, project-based work depends on detailed and timely information and data for teams and stakeholders.
Efficient management of knowledge helps project teams to make effective use of their time, resources and skills to make decisions and perform their tasks.
Data management is an administrative process that involves the acquisition, validation, storage, security and processing of necessary data in order to ensure that the data is available, accurate and timely for its users.
Data Management is the development, execution and supervision of plans, policies, programs and practices that control, protect and enhance the value of data and information assets throughout their life cycles," is the official description given by DAMA International, the professional association for those in our data management profession.
Importance of data management
Data increasingly is seen as a corporate asset that can be used to make more-informed business decisions, improve marketing campaigns, optimize business operations and reduce costs, all with the goal of increasing revenue and profits. But a lack of proper data management can saddle organizations with incompatible data silos, inconsistent data sets and data quality problems that limit their ability to run business intelligence (BI) and analytics applications -- or, worse, lead to faulty findings.
Data management has also grown in importance as businesses are subjected to an increasing number of regulatory compliance requirements, including data privacy and protection laws such as GDPR and the California Consumer Privacy Act. In addition, companies are capturing ever-larger volumes of data and a wider variety of data types, both hallmarks of the big data systems many have deployed. Without good data management, such environments can become unwieldy and hard to navigate.
References:
https://ischool.uw.edu/programs/msim/what-is-information-management#:~:text=Information%20management%20is%20an%20emerging,people%20at%20the%20right%20tim
https://www.smartsheet.com/information-management
https://searchdatamanagement-techtarget-com.cdn.ampproject.org/v/s/searchdatamanagement.techtarget.com/definition/data-management?amp_js_v=a6&_gsa=1&=1&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16135330001644&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fsearchdatamanagement.techtarget.com%2Fdefinition%2Fdata-management
