Information, a strategic asset

It is commonly said today that we are living in the information age. In just a few short decades, advances in information technology have made it possible for just about anyone to gather considerable amounts of information, store it, and use it to satisfy a variety of needs. These possibilities have given rise to thousands of products and services which have revolutionized our daily lives.

Yet, how many companies truly make the most of the information at their disposal? Very few, it would seem. It is true that companies now commonly possess databases, internet and intranet sites, and data tracking and management systems of all shapes and sizes. Unfortunately, the efficacy of business organizations and their ability to better serve clients have not always progressed at the same pace—far from it! Quite often, those in charge of running sophisticated data systems admit they are often overwhelmed by the flood of information they must manage and thus unable to tap its full potential.

Indeed, technology—as powerful as it may be—is not everything. The authors of our selected publications emphasize that what makes difference is the ability to utilize this data strategically. In particular, they give three pieces of advice in this regard:

– More than quantity, ensure the quality of data you store.

– Design a data management strategy to acquire a specific competitive advantage aligned with the overall business strategy.

– Be particularly attentive to the cultural and managerial dimensions of information management.