What is the difference between MIS and information resource management?

Answer 1

This Insight was selected by the Special Libraries Association for inclusion in their resource kit on Information Management (1997). See also our more recent insights - The Knowledge Asset and Knowing What You Know.

Information as a Strategic Resource

"Drowning in data, yet starved of information"

(Ruth Stanat in 'The Intelligent Organization')

One of the dilemmas facing today's manager is that on the one hand they seem to be suffering from information overload, yet on other hand, they often they complain about shortage of information needed to make vital decisions.

Symptoms of overload are a growth of incoming information, including electronic mail, an explosion in the volume of information sources (there are over 10,000 business newsletter titles and a similar number of CD-ROM titles). Symptoms of scarcity are the lack of vital information for decision making, unexpected competitor moves and the inability to find the relevant 'needle in the haystack'

There is also the crucial problem of exploiting an organisation's proprietary information as a strategic asset.

Underlying these problems is that of having "the right information, in the right place, in the right format, at the right time".

What is the Solution?

Partial solutions include Executive Information Systems (EIS), On-line and CD-ROM data-bases, alerting services. A more encompassing solution is to adopt the principles of Information Resources Management (IRM) (not to be confused with an information management or information systems).Whereas the value (often declining!) of tangible assets, such as property and office equipment, is regularly assessed and audited, similar processes are lacking for intangible assets, such as information and knowledge, whose asset value is increasing in many organisations.

Information Resources Management (IRM) is an emerging discipline that helps managers assess and exploit their information assets for business development. It draws on the techniques of information science (libraries) and information systems (IT related). It an important foundation for knowledge management, in that deals systematically with explicit knowledge. Knowledge centres often play an important part in introducing IRM into an organization.

Nick Willard of ASLIB's IRM Network (now the IRM SIG) has developed a model highlighting the five key activities for their effective IRM management:

• Identification What information is there? How is it identified and coded?
• Ownership Who is responsible for different information entities and co-ordination?
• Cost and Value A basic model for making judgements on purchase and use
• Development Increasing its value (see '10 ways to add value to your business') or stimulating demand.
• Exploitation Proactive maximisation of value for money