Your organization’s data is one of its most valuable assets. Unlike assets such as cash, however, data doesn’t always grow in value as it expands in volume — it must properly obtained, stored, secured, cleaned and surfaced so that it can put to use in meaningful ways.
Accordingly, more and more businesses are looking to transition from information management to knowledge management systems. But what exactly are the differences between knowledge management and information management? Are there any concepts and terms from information management that you can use to help your organization implement knowledge management effectively?
Information management is the practice of collecting, managing and distributing information. Data can be acquired from a wide range of sources, and can come in a variety of formats. Then it must be stored securely in an organized and structured way that both meets relevant regulations and policies and ensures it is accessible to authorized employees. Strong information governance is essential to effective information management.
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