By Kelly Kasher & Lori Lewis
According to a study by HP and Coleman Parkes, nearly 50 percent of executives believe they do not have an effective information strategy in place within their organizations. What does it mean to have an “effective” information strategy?
Recently, HP Information Management and Analytics global portfolio and strategy leader, Brian Ng, and global integrated marketing and communications leader, Lori Lewis, talked about the HP Master Plan. This is HP’s approach to helping clients develop information management and analytics strategies. HP consultants work with clients to develop a vision, strategy and detailed execution plans for their data initiatives. And while success depends on many factors, Lori and Brian discussed three key features of an effective information strategy:
- Flexible planning: Organizations should have a documented strategy, but make sure it has the flexibility to adjust to business and industry changes as needed. Brian suggests that because the world of information is changing so quickly, companies build a 2- to 3-year strategy and expect to evaluate the strategy at 12- to 18-month intervals, making changes as needed.
- Business and IT alignment: Organizations should ensure the business and technology sides of the organization work together to develop a common vision and strategy. This results in an information management strategy that is a) technically feasible, b) tied directly to business strategy, and c) leads to business value.
- Measurable business value: Once a strategy is in place and execution underway, it’s easy to move on to the next big thing and sidestep this key point. Brian says it is critical to go back on a regular basis to measure and quantify the business value. “This is very important in our Master Plan and time and time again has proven to be very useful – to be very business-connected, to make sure we are relevant to the business as we move forward.”
Learn more about the principles of the HP Master Plan and how they can help you build an effective information management strategy, whether it’s for a broad business intelligence initiative or targeted to a specific discipline, such as social intelligence or data quality.
Join us for the “Master Plan Workshop” at HP Discover (Session ID BW2901).