Do you think that the Enterprise Information Management program at your organization is not giving good returns? Before you approach an EIM consulting expert, it will be pertinent to go through this article. Many times the initiative does not become productive because the corporation tries to achieve too much in too little time.
An efficient program needs careful planning and patient, step by step implementation. It is natural for business owners to think that as soon as the stakeholders are identified, roles assigned, and technical solutions are integrated into the digital ecosystem, the plan will start working. But, managing data assets requires a dynamic and open-minded approach and organizations must be ready for a lot of fine-tuning before the start reaping the benefits. Following are the major rules which guarantee efficient EIM at a business:
1. Never Try To Develop All Areas At Once
Most enterprises make the mistake of trying to develop all the areas of the program at once. This leads to a divided focus and inefficient implementation. A project will consist of various disciplines like data development, data quality management, data security, etc. Instead of trying to take care of all the issues at once, it will be more appropriate to adopt a structured approach.
Plan in advance and according to your business’ requirements focus on all the topics. Then assess your corporation’s existing capabilities about each discipline. This will help in identifying the areas which need the most improvement. Aim for low hanging fruits first and lay down the framework in the sections where the company is strong.
2. Do Not Focus On Only One Area
This second rule is a corollary of the first one. Success can be achieved only if you meet greatest levels in all the areas. How can that be made possible? The answer lies in data governance. Once you establish a monitoring framework which oversees the entire project, you will be able to spot inconsistencies .
While the organization is focused on a single area, the supervisory group will keep track of all the other disciplines and give updates about their performance. You can use the feedback to make rectifications and modifications to vital sections so that all the other domains are not neglected.
3. Aim To Achieve Balance
Entrepreneurs can become obsessed with perfection. There is nothing wrong with this approach but aiming for perfection can cause them to lose sight of the main goal while implementing an Enterprise Information Management program. It is more important to achieve balance rather than optimize the project for zero error. All the different aspects of the program are interdependent on each other.
Effective data governance is vital for all the different sections working in perfect harmony. The supervisory group must be provided with small, attainable targets in the data quality management area. This will keep the errors to at least and there will be no negative impact on any of the other disciplines.
4. Plan For EIM As Early As Possible
It is common to see organizations discarding the initiative in case they cannot attribute any large gains to it. This is not the right approach and must never be adopted. Small firms feel that the project does not hold any value for them as they do not generate so much information that they need to hire data management services. They are only correct. EIM has benefits for all types of organizations.
Most businesses start planning for the initiative only when it becomes unviable for them to continue without it. The reason for this is they are occupied with growing the business while the data elements generated reach unmanageable proportions. It will be pertinent to begin preparations at an early stage of an enterprise’s lifecycle.
5. Do Not Be Confused By The Program’s Name
You will hear different names given to the organization and handling of information assets at companies. In some firms, it will be called data management while at others, it will be referred to as EIM. the nomenclature depends upon the corporation as well as the agency creating the plan. But, do not let the name confuse you. The goal of all projects is the same- to enable better decision making by acquiring, storing, processing, transforming, and archiving data in the best possible way. Choose a term which you prefer and focus on achieving its business objectives.
Enterprise Information Management will succeed when the program is implemented in a planned and phased manner. Business owners must create a data-centric culture at their organizations to develop a conducive environment for running the initiative.