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Managing Data, Information Knowledge, & Action Business isn’t complicated. The complications arise when people are cut off from information they need. John F. Welch, CEO of GE
1. Myths • More data is better. • Information is a commodity • Information is knowledge.
2. D-I-K-A Model • Concepts • Data = Representations of reality • Info. = Data which provides relevant clues or news • Knowledge = The framework or schema for organizing the relationships between pieces of information. • Action = The deeds or decisions made based on knowledge
DIKA cont. • Relationships • Skills • Data gathering • Information managing • Knowledge managing • Action
3. Variations on the model • D-I-K loop • K-A loop • I-A loop • Others
4. Managing the D-I Relationship • Like a watch • Timely • Accurate • Relevant • Determine what employees really need to know • Increase efficiency of transmission • JITI • PEI • Pay attention to the form of info.
D-I cont. • Be wary of comm. chains • Generate both soft & hard data • Recognize & manage all the information networks
5. Managing the I-K Relationship • Consider the source’s credibility • Be aware of how the hierarchy affects the flow & availability of information • Acknowledge what you don’t know • Create & test models and theories • Organize the same info. Differently • Structure informal networks
6. Managing the K-A relationship • 50% of org. decisions never get fully implemented • Create strategic knowledge-sharing communities • Reevaluate the role of reports • Speed up the transformation process • DIK is perishable • People hedge their bets • People make good decisions without perfect information