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1 Managing Data, Information Knowledge, & Action Business isn’t complicated. The complications arise when people are cut off from information they need.

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Presentation on theme: "1 Managing Data, Information Knowledge, & Action Business isn’t complicated. The complications arise when people are cut off from information they need."— Presentation transcript:

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2 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 John F. Welch, CEO of GE

3 2 1. Myths More data is better. More data is better. Information is a commodity Information is a commodity Information is knowledge. Information is knowledge.

4 3 2. D-I-K-A Model Concepts Concepts Data = Representations of reality Data = Representations of reality Info. = Data which provides relevant clues or news Info. = Data which provides relevant clues or news Knowledge = The framework or schema for organizing the relationships between pieces of information. Knowledge = The framework or schema for organizing the relationships between pieces of information. Action = The deeds or decisions made based on knowledge Action = The deeds or decisions made based on knowledge

5 4

6 5 DIKA cont. Relationships Relationships Skills Skills Data gathering Data gathering Information managing Information managing Knowledge managing Knowledge managing Action Action

7 6 Historical Example

8 7 3. Variations on the model D-I-K loop K-A loop I-A loop Others

9 8 4. Managing the D-I Relationship Like a watch Like a watch Timely Timely Accurate Accurate Relevant Relevant Determine what employees really need to know Determine what employees really need to know Increase efficiency of transmission Increase efficiency of transmission JITI JITI PEI PEI Pay attention to the form of info. Pay attention to the form of info.

10 9 D-I cont. Be wary of comm. chains Be wary of comm. chains Generate both soft & hard data Generate both soft & hard data Recognize & manage all the information networks Recognize & manage all the information networks

11 10 5. Managing the I-K Relationship Consider the source’s credibility Consider the source’s credibility Be aware of how the hierarchy affects the flow & availability of information Be aware of how the hierarchy affects the flow & availability of information Acknowledge what you don’t know Acknowledge what you don’t know Create & test models and theories Create & test models and theories Organize the same info. Differently Organize the same info. Differently Structure informal networks Structure informal networks

12 11 6. Managing the K-A relationship 50% of org. decisions never get fully implemented 50% of org. decisions never get fully implemented Create strategic knowledge-sharing communities Create strategic knowledge-sharing communities Reevaluate the role of reports Reevaluate the role of reports Speed up the transformation process Speed up the transformation process DIK is perishable DIK is perishable People hedge their bets People hedge their bets People make good decisions without perfect information People make good decisions without perfect information

13 12 7. Applying the D-I-K-A Model


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