“How Estimates of the Gig Economy Went Wrong,” The Wall Street Journal, January 8, 2019. Estimates of the impact of the “gig economy” based on a 2015 survey turned out to be not that accurate a prediction of the actual impact (which was minimal), looking back.
Estimates and opinions and forecasts are, in one sense, Information. But they are not facts. How do you determine how much weight to give an estimate or an opinion? Do you put your own opinion of the error band around an estimate: the plus-or-minus versus facts? Is how you use this type of Information part of Governance? Is this included in “Information Management,” or is it the other way around? Where does “how you actually use Information fit?
In the macro sense, one of the bits of information that we own, manage, and hopefully control is who we are. How does the government control and manage this?
“Banks Find Solutions for ID Fraud at DMV,” The Wall Street Journal, November 13, 2018 B10. Banks may use DMV databases to verify your online identity, because how you have to establish your identity to get a driver’s license normally involves you appearing in person and providing supporting documents.
Key to the process at the DMV is the trained person who checks your supporting documents. The banks want to leverage that person’s knowledge and experience, rather than relying on a bank manager to do it.
Where else in our lives do we rely on government employees rather than ourselves as a critical control?
Filed under Access, Accuracy, Controls, Data quality, Definition, Duty of Care, Governance, Information, Internal controls, Knowledge Management, Operations, Oversight, Privacy, Protect assets, Third parties, Use
“Wall Street Analysts Are Selling More Data,” The Wall Street Journal, November 8, 2018 B11. Analysts are searching and make available a bunch of information on your information, including “social media sentiment … and geospatial mapping.” Think of it as expanded research reports.
Well, they are in the business of reviewing data and offering opinions (for a price). Is it much of a disintermediation for them to start selling the information directly? I guess there’s money in it. Or service.
Filed under Access, Analytics, Collect, Controls, Corporation, Duty, Information, IT, Management, Operations, Ownership, Security, Third parties, Use, Use, Value
Interesting Journal Report on health care technology. Several articles on new uses of information, or uses of new information, in order to do everything from brain surgery to looking after aging parents.
- “Augmented Reality Gives Brain Surgeons a Better View,” The Wall Street Journal, May 29, 2018 R1.
- “AI Tools Help the Blind Tackle Everyday Tasks,” The Wall Street Journal, May 29, 2018 R4.
- “Robots and Chatbots Look After the Elderly,” The Wall Street Journal, May 29, 2018 R6.
- “Apps Promise to Help Avoid Pregnancy,” The Wall Street Journal, May 29, 2018 R7.
- “For Those With Dementia, an Assist From Technology,” The Wall Street Journal, May 29, 2018 R8.
- “Doctors, Beware: You’re Being Watched,” The Wall Street Journal, May 29, 2018 R10.”
The value of information is in its use, or perhaps in the ability to prevent others from using it.
“H&M Ramps Up Data Use,” The Wall Street Journal, May 8, 20189 B4. Store chain mines social media to identify and track trends, and analyses store-specific information to determine what to stock in that store.
So, they use a common technology approach to data analysis chain-wide to derive a store-specific stocking strategy. They find that computers don’t get distracted by emotions as much as humans.
Filed under Access, Analytics, Collect, Information, IT, Knowledge Management, Management, Operations, Use, Use, Value
“The Mariners; Big Data Experiment,” The Wall Street Journal, March 27, 2018 A14. Data leads to moving a star player from shortstop to the outfield.
Maybe not a big Information Governance or Compliance piece. But interesting use of information.
What does blockchain have to do with information governance?
It’s early days yet, but think about what happens with information. It gets created, modified, transferred, stored, used, reused, exchanged, and, hopefully, deleted at the end of its life. Would it be useful to be able to track who owns the information and where it is at each step of its life? Is a piece of information that much different than a cargo container being tracked from origin to destination?
“Blockchain Has Power to Transform,” The Wall Street Journal, March 12, 2018 B4.
Filed under Access, Accuracy, Analytics, Controls, Governance, Information, Interconnections, IT, Operations, Supervision, Technology, Third parties, Use
The title of this post is a common question asked in the Information Governance arena.
“Freight Tracker Adds Funding In Hot Market,” The Wall Street Journal, February 21, 2018 B4. Expansion at company that tracks where shipments are and when they will arrive.
Clearly, this information on a real-time basis is valuable to shippers and customers. Is there a difference between the value of the information (where the shipment is) and who owns that information? Or is it just who can profit from collecting and reporting the information? Who would have thought an entrepreneur would monetize this, rather than the companies handling the shipments? Did the shipping companies not realize the value of an asset they had?
The adventure continues, after Kobe Steel announced earlier this month that workers at several different facilities had fudged paperwork on product quality, dating back to at least 2007. Apparently, getting that type of paperwork accurate is important. To someone.
“U.S. Looking Into Kobe Steel Scandal,” The Wall Street Journal, October 18, 2017 B3. Department of Justice kicks off a request for information after company disclosures about practices in Japan. Affects product sold into manufacturers of train, planes, and cars.
More to follow. Expect Congress to weigh in shortly. Again, the problem occurred in more than one facility, over a period of years. Is that a failure of compliance, or culture, or both?
An example of the intersection of governance, compliance, and information.
Filed under Accuracy, Compliance, Controls, Corporation, Culture, Data quality, Definition, Duty, Duty of Care, Employees, Governance, Information, Internal controls, Oversight, Reliance, Use, Value
Not Kobe beef.
“Suspect Metal Rattles Car Makers,” The Wall Street Journal, October 12, 2017 B1. A supplier (Kobe Steel) falsifies some of its product-quality paperwork. Result: manufacturers of planes, trains, and cars (and others) need to check that the faulty material doesn’t compromise safety.
How valuable is the information you get from your vendors? How accurate is it? Do you verify?
Filed under Accuracy, Compliance, Controls, Corporation, Data quality, Duty, Duty of Care, Governance, Information, Internal controls, Oversight, Third parties, Use, Value, Vendors