Christopher Surdak is an Engineer, Juris Doctor, Strategist, Tech Evangelist, 2015 Benjamin Franklin Innovator of the Year, and Honored Consultant to the FutureTrek Community, Beijing, China. He is also the author of Data Crush: How the Information Tidal Wave is Driving New Business Opportunities, which is GetAbstract’s International Book of the Year for 2014.
- How do you explain the concept of good information governance and management to business people who are not engaged in the area?
Information is replacing capital as the basis of wealth and power in the world. As such, look around your organization at all of the investments you have made in managing the ebb and flow of capital. It is likely that every process, every system, every report and every metric has been designed to support clear, concise and timely management of capital. Going forward, you’ll need at least that same degree of control over your data; ALL of your data. The only major difference will be that your processes and decision making will have to operate about a million times faster than they did in a capital-centric world.
- What are the three biggest information-related problems facing businesses today?
Gartner began defining “Big Data” by the three “V’s” of velocity, volume and variety. These are primarily technical drivers and hurdles and so we keep improving our technology. These old three “V’s” are still an issue but as we eclipse them we face three new challenges: Veracity, Viability and Value. Veracity is the question of whether our data, our mathematics, our questions and the insights that they create are accurate. Viability is the question of what, if anything, can we do with these insights to generate new outcomes. Finally, Value is the question: Do these new insights lead to new outcomes that customers actually value? These new three V’s focus upon the application of Big Data, which is directly driven and determined by the effectiveness of your Information Governance structures. [Read more…]