Presentation on theme: "Managing Data, Information Knowledge, & Action"— Presentation transcript:
1 Managing Data, Information Knowledge, & Action Business isn’t complicated. The complications arise when people are cut off from information they need.John F. Welch, CEO of GE
2 1. Myths More data is better. Information is a commodity Information is knowledge.
3 2. D-I-K-A Model Concepts Data = Representations of reality Info. = Data which provides relevant clues or newsKnowledge = The framework or schema for organizing the relationships between pieces of information.Action = The deeds or decisions made based on knowledge
7 3. Variations on the model D-I-K loopK-A loopI-A loopOthers
8 4. Managing the D-I Relationship Like a watchTimelyAccurateRelevantDetermine what employees really need to knowIncrease efficiency of transmissionJITIPEIPay attention to the form of info.
9 D-I cont. Be wary of comm. chains Generate both soft & hard data Recognize & manage all the information networks
10 5. Managing the I-K Relationship Consider the source’s credibilityBe aware of how the hierarchy affects the flow & availability of informationAcknowledge what you don’t knowCreate & test models and theoriesOrganize the same info. DifferentlyStructure informal networks
11 6. Managing the K-A relationship 50% of org. decisions never get fully implementedCreate strategic knowledge-sharing communitiesReevaluate the role of reportsSpeed up the transformation processDIK is perishablePeople hedge their betsPeople make good decisions without perfect information