Infonomics is the theory; LINQ is the solution.
Doug Laney’s book ‘Infonomics’ sets out an important reality: information is a critical business asset so start treating it as one!
“We are unaware of any other company that is solving the complex challenges of valuing Information Assets in the innovative way that LINQ is doing. We are very excited about the Information Flow Modelling solutions offered through a SaaS platform such as LINQ.” – Gartner, 2018
The principle behind Infonomics is that you must consider your information as an asset. Once you do this, you can measure, manage and monetise your information. This will enable you to mobilise your information to create new business value; you will be able to create new outcomes that impact your business and your customers, you will stay ahead of your competition and most importantly, your will ensure your business survives as the digital economy expands into all aspects of our lives.
Business Executives; CEOs and other business leaders need to weild information as a corporate asset, CIOs need to improve the flow and accessibility of information and CFOs need to be able to the measure the actual and latent value of their information assets. The newer roles of Chief Data Officer and Chief Product Officer, plus individuals such as the Data Engineer or the Data Analyst can lead their organisations to infosavvyness!
Actions you can take today to start to monetize available information assets:
Measure – use a modern data catalogue to map information supply chains and build the inventory of information assets from all sources. Build Data Literacy through “information as a second language” to champion the underlying business value of data. Ensure communications span all business units to maximise the understanding and opportunity to innovate new business value.
Manage – establish specific roles that focus on data, for example the new role of Data Engineer. Establish governance at a senior level, perhaps through the Office of the Chief Data Officer and define goals for new revenues achieved through the mobilisation of data.
Monetize – understand the opportunity to apply your newly discovered information assets to generate more business value. Track business outcomes and benefits realised from this new approach. Extend your reach.
How LINQ can help
LINQ enables Infonomics. By quickly enabling you to capture the Information Supply Chains which represent the discernible, discrete economic benefit in which information can be monetised, managed and measured, LINQ accelerates your move to become a data-driven business.