Book Review: Infonomics – How to Monetize, Manage, and Measure Information As An Asset For Competitive Advantage by Douglas B. Laney

Are CFO’s finally ready to heed the advice of their Chief Data Officers and begin adding information assets to the balance sheet?

Although the commonly used quote “There is nothing more powerful than an idea whose time has come.” is regularly and erroneously misattributed to Victor Hugo, originating from his account of the French coup d’état of 1851 that brought Napoleon III to power, I feel it’s almost appropriate for Douglas B. Laney’s passionate argument on Infonomics. It’s an idea he’s been meticulously developing and arguing for almost two decades and has at last fully articulated in his latest book published by Taylor & Francis entitled Infonomics: How to Monetize, Manage, and Measure Information As An Asset For Competitive Advantage. Laney previously published his thoughts on Infonomics in Forbes back in 2012.

This brilliantly researched book, supported by industry giant Gartner, is steeped in both a mastery of information technology as well as economics, in particular accounting methodology and complementing business disciplines that range from supply chain economics to compliance frameworks.

Laney, with brevity and unfailing pragmatism, weaves his impressive understanding of the business of information, it’s flow and it’s enormous potential into a convincing pleading that I believe is a must read for not just the aspiring digerati, but any CFO, Chief Data Officer or executive hoping to survive and thrive in the Information Age.

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Navigating The Global Digital Economy – An Interview with April Dmytrenko, CRM, FAI

Seventh in a series of in-depth interviews with innovators and leaders in the fields of Risk, Compliance and Information Governance across the globe.


April Dmytrenko - Information Governance Perspectives

April Dmytrenko, CRM, FAI is a recognized thought leader in the field of information management, governance, compliance, and protection. As both a practioner and consultant, she works with global organizations on key initiatives and best practice approaches for the enterprise; developing sustainable solutions; integrating legally compliant programs focused on information/digital assets; motivating and facilitating multi-disciplined groups to collaborate on achievable goals; and building strategic partnerships with internal and external teams. She serves on industry action committees and governing and editorial boards, and is an active industry speaker, trainer, and author. I had the pleasure of sitting down with April this September to discuss privacy, the role of industry associations and key concerns for leaders navigating the global digital economy.

April, almost five years ago I asked what the next big frontier would be for those of us managing data, and more importantly where the jobs would be. You wisely predicted that privacy would be on the horizon. Well we now have a number of legislatures drafting regulations and CPO positions can’t seem to be filled quickly enough. Do you believe there is still time to enter this emerging field and make an impact?

Right now we are experiencing an amazing transformation of the business environment based on many things but particularly the evolution of technology and the global digital economy. It is indeed an exciting time but we are acutely “headline news” aware of the impacts of compromised data security and privacy, including financial impact on brand and reputation, litigation, and the overall burden and distraction on the business. The exponential growth rate of incidents of data theft, damage, loss or inadvertent disclosure continues to expand not only in frequency but scope, and complexity. While privacy concerns gained attention over 100 years ago, and became topical about 15 years ago, it is still truly in an infancy state. Privacy offers IG professionals a rich and important opportunity to expand their leadership or advisory role in maturing a unified approach to protection, compliance with laws and regulations, and incident response and recovery.

April Dmytrenko - Governance - Not Taking Risks
Courtesy ARMA International

In your role as a fellow of ARMA International, you’ve helped to connect organizations with practitioners who truly understand the discipline and benefits of Information Governance. How has this evolved over the years and what steps do you think organizations like ARMA and the ICRM need to keep taking to remain relevant?

This is a great question as the core IG professional organizations have been dealing with an identity crisis for some time, and still struggle to have a clear and concise “elevator speech” on mission and value. IG, while it has a wide breath, has many in the industry confused, and still is a term that does not universally resonate with senior management. These associations have tremendous value and passionate support but numbers speak volumes and membership and conference attendance have been decreasing for years. We are seeing the technology vendor market taking over a leadership role and may serve as the new defining force in setting direction and guiding the industry – self-serving yes but it could be what is needed going forward. I am not concerned about relevance as it will continue to be all about information and technology, and the management, protection and leveraging of information asset. While the role of a traditional Records Manager may not continue to be relevant, I don’t find it concerning – the relevance is in the work and it evolves.

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BanQu - Information Governance Perspectives

Using Blockchain for the Common Good – An Interview with Ashish Gadnis of BanQu

Sixth in a series of in-depth interviews with innovators and leaders in the fields of Risk, Compliance and Information Governance across the globe.


Information Governance Perspectives - Ashis Gadnis of BanQu discusses Blockchain

Ashish Gadnis is CEO of BanQu, Inc. and a recognized thought leader in the blockchain community. He chairs the Financial Inclusion Working Committee for the Wall Street Blockchain Alliance and travels the world explaining how this revolutionary new technology is transforming the way we think about supply chain economics. He holds an MBA from the University of Minnesota’s Carlson School of Management and graduated from the Global Leadership and Public Policy program at the Harvard Kennedy School of Government. I spoke with him this July about blockchain, business administration and professional development.

Ashish, you recently spoke at the MER conference where the theme was “Records for Humanity,” how data governance impacts the human condition. And your company, BanQu, offers a unique solution to the challenge of extreme poverty by leveraging blockchain. With BanQu, people ensure their economic identity with an immutable record of their transactions in a system benefiting the entire supply chain. But how exactly do you, your clients and big brands set about prioritizing and realizing these goals?

Over the last two and a half years we’ve realized that 2.7 billion people, that includes refugees displaced and those in extreme poverty zones, participate in some sort of a supply chain. That can mean you’re the poorest farmer in Congo growing coffee, cacao or shea butter, you know, the ingredients that go into cosmetics, and your contributions show up in brands like eight dollar lattes and expensive body lotions. And in examining this, we realized that that current models for getting people out of poverty have failed. Those models have failed because they look at the ability to help people out of poverty separate from enabling people in poverty to participate in the supply chain. And so we actually took the other route. And nobody had ever done it. We said, “What if the people who are absolutely in that last mile, if they get to equally participate?” Then the value for the brand is suddenly more relevant.

Let’s use a simple example. If you’re buying cacao in Ghana and you’re a large chocolate company, there’s a good chance today that your last mile farmers are extremely poor and also invisible. No matter much traceability, transparency or fair trade you implement, until and unless that farmer can participate in his data, to know for example “I’m selling 40 kilos every other week to this big brand,” then that farmer will continue to live in poverty. And this is kind of a long answer, but the detail is important because that poor farmer today has everything stacked against him or her, especially if conditions are so rough. I was just in Zambia a week and a half ago and I saw firsthand some of this problem, which was that women farmers have to borrow at a higher price point.

Women farmers are always at the short end of the stick because they’re not allowed in many cases to prove their history. So what happens if you happen to be selling 40 kilos upstream and there are seven middlemen… after I sell my coffee… somebody picks it up, then brings it to somebody else, the next one goes to the warehouse and eventually you’ve lost the ability to track. And while the internet has come to people in poverty it hasn’t pulled people out of extreme poverty permanently. There’s mobile money, there’s big data, AI, etc., but none of those models actually have ever allowed that mother, that farmer, to participate equally.

When I say participate equally, it’s very basic. To me participate equally means that one, she has a physical (stored digitally) copy of that transaction that nobody can ever steal or manipulate. Two, she has the ability to prove her transaction history which legitimizes her existence in that supply chain. And three, it allows her to now leverage that data in a way that reduces her cost of borrowing. It allows her to be portable. That’s how we decided to look at blockchain and nobody in the world has ever done this. People keep talking about how they’re going to use blockchain for good and we’re the only ones doing it everyday, taking a commercial approach while being simultaneously deeply purpose driven. We started a for profit, for purpose software company and now the largest brands are coming to us because it solves two sides of the problem for them. One side is that the supply chain now becomes more cost effective and efficient. They get better visibility into the supply chain in terms of quality, market access and forecasting which enables an ecosystem for crop insurance, climate protection, education. And the other side of the coin is now they can start addressing issues like gender equality, labor rights and other important issues.

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Tapping Into Africa's IG Potential - An Interview With Amb-Dr. Oyedokun Ayodeji Oyewole

Tapping Into Africa’s IG Potential – An Interview With Amb-Dr. Oyedokun Ayodeji Oyewole

Fifth in a series of in-depth interviews with innovators and leaders in the fields of Risk, Compliance and Information Governance across the globe.


Dr. Oyedokun Ayodeji OyewoleAmb-Dr. Oyedokun Ayodeji Oyewole is the Chairman of the Board at the Institute of Information Management (IIM) based in Nigeria. Prior to leading the institute, he spent years in IT and cyber-security roles for Swedish firms and consulting for the Oil and Gas industry. Dr. Oyewole is both an accomplished Records and Information Management practitioner and a fierce advocate for the discipline. I sat down with him in July to ask him about his journey through the universe of information management, his thoughts about professional development and the emerging opportunities in Africa.

Dr. Oyewole, your work developing new practitioners in the Records Management field is substantial and encouraging. You have empowered individuals, young and old, to harness their analytical skills to advance their professional development while instilling pride and confidence in them.

Tell us what inspired you to look at Africa and decide how building a community of skilled practitioners could make a difference not just in individual’s lives but in their communities?

My sojourn into the information management space started in 2004, with a very big vision and mission. This was at a time when information management technology was being implemented by only a few organisations in Africa. With the vast opportunities in the RIM space in Africa coupled with the many societal challenges faced by the continent, I saw the need for us to buttress the demand for proper management and security of records and information in both public and private organisations. A very large chunk of organisations were still struggling with managing physical records and certainly not prepared for electronic records. Poverty, corruption and a lack of employment opportunities were crippling. In analyzing all this, I felt the only meaningful solution to both alleviating suffering and empowering people was through advancement of this all important industry, information management, neglected for decades in Africa. Having a society where quality records and information can be easily accessed must be a priority in the face of several challenges ranging from lack of government support, inadequate legislation, poorly trained professionals and practitioners, to the absence of standards and necessary tools for adequate data and information governance.

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Turning Collective Wisdom Into Strength - An Interview with Andrea Kalas of the Association of Moving Image Archivists

Turning Collective Wisdom Into Strength – An Interview with Andrea Kalas of the Association of Moving Image Archivists

Fourth in a series of in-depth interviews with innovators and leaders in the fields of Risk, Compliance and Information Governance across the globe.


Andrea KalasAndrea Kalas is a recent President of the Association of Moving Image Archivists (AMIA) and a member of the Academy of Motion Picture Arts and Sciences (AMPAS). Prior to her current role at Paramount Pictures as SVP of Archives, she led the preservation program at the British Film Institute. I had the opportunity to sit down with her in June to discuss bit loss, digital asset management, artificial intelligence and the benefits that millennials are bringing to the profession.

Andrea, you’ve spoken and taught at length about the challenges of bit loss and how it affects the race to preserve not just America’s rich film history, but that of other countries and cultures.

How does a global team like yours even begin to prioritize its preservation goals as you race against the clock?

Digital preservation has the basic goal of avoiding bit loss, technically. However, the work that really requires technologists and archivists to effectively collaborate involves the treatment of files as valuable records, art or artifacts. This goes against so much of how basic information technology systems work. For example the word “archive” has been used as a term to mean data written off-line and put on removable media on a shelf, never to be touched again. This is a sure path to bit loss. For an archivist this definition is completely counter-productive. It as much about communication and clear technical requirements from archivists as it is building technical solutions.

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GDPR - General Data Protection Requirement - Information Governance Perspectives

Emerging From The Dense, Digital Fog – An Interview with Dr. Ulrich Kampffmeyer

Third in a series of interviews with leaders in the fields of Risk, Compliance and Information Governance across the globe.


IMG_992_kff_400x400

Dr. Ulrich Kampffmeyer is the Managing Director of Project Consult in Hamburg, Germany and a renowned expert on digital transformations, business intelligence and enterprise content management. I had the opportunity to sit down with him in May and discuss the GDPR, artificial intelligence and social issues emerging from the dense, digital fog we all find ourselves in.

Ulrich, you write and teach extensively about the cultural and social changes in work environments that are a direct result of the emergence of digital transformations. Now that data is at the fingertips of everyone…

What changes should society expect that the business world may have already?

The pace of digital transformation accelerates day by day. Cloud technologies, artificial intelligence, IoT and other developments are happening so fast that there is a danger they’ll get out of control. The mightier AI becomes the larger the danger that it gets uncontrollable.

Consider Soshana Zuboff (one of the first tenured women at Harvard Business School) and her three laws:

  1. Everything that can be automated will be automated.
  2. Everything that can be informated will be informated.
  3. Every digital application that can be used for surveillance and control will be used for surveillance and control.

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Farmers Case Study - Information Governance Perspectives

Less is more, gaps are opportunities and relationships matter: A Case Study in Information Governance at #AIIM2018!

AIIM 2018 is just around the corner and I’m thrilled to be presenting my Case Study at this great conference which takes place April 10-13th, in San Antonio! Hope you can join me and so many like-minded in San Antonio this year or later in May when I’ll also be speaking about a program which was recently honored by ARMA International with its Excellence for an Organization Award!  Here are a few slides from my session which will be held on April 12th at 5PM.