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This article looks at how to compile effective reports to demonstrate the value of information expertise and products and show stakeholders that an investment of resources in this area is beneficial to the business overall. It also includes a practical worksheet to help you develop your reporting framework.
Note: This article is part of the Focus on Value Chain.
If you've been working through the activities in our recent series of articles on the value chain, you'll no doubt be some way towards creating your own set of components of success for your organisation, covering innovation, risk management and revenue. This article guides you in the next steps on this journey by helping you define and use your datapoints to optimise your workflow.
In this article, we take a closer look at the value chain and how you can further business goals such as efficiency, innovation, and risk management. Find out how you can document information products and services to enhance the value of information.
Whilst many information teams are already aware of the information needs of their users and its value, there's always room for improvement. The activity outlined in this article will help you reassess your assumptions about the components of success, whether for efficiency, innovation or risk management and help you better understand the value chain.
To demonstrate the value of your information strategy, you need to be specific about your goals. This article looks at how you can do this using Jinfo's value chain and covers the examples of efficiency, innovation, risk management and transparency, amongst others.
We know that information expertise is a prerequisite when it comes to helping us make smarter decisions but being able to evidence this and measure its impact over time can be problematic. What we can do is try and document the characteristics of the environment in which this goal is achieved and how information services contribute to creating those characteristics, this article looks at how we can set about doing this.
Although information teams have long known that their services are essential to creating transparent business operations, it is difficult to demonstrate those contributions through metrics. Breaking down what it means to be "transparent", and then documenting your contributions to those smaller elements goes a long way towards making your value more visible and quantifiable, Robin Neidorf explains how to achieve this.
This article explores how information professionals help organisations manage risk and how they can better communicate their work in areas such as copyright, terms and conditions, licensing, and ensuring accurate information for decision-taking.
In the third of our six articles on documenting the value chain, we look at innovation and ask what it looks like, as well as exploring some of the requirements and characteristics that contribute to an innovative environment. We also look at what activities you may currently undertake that supports each of the characteristics and requirements of innovation in your organisation and some qualitative insights you can share with stakeholders to give them a clearer picture of the impact your expertise has on it.
Whilst it can be difficult to provide meaningful data to demonstrate the impact on efficiency that an information team provides, it is possible to highlight how you help an organisation become more efficient. In the second article on documenting the value chain, we provide practical examples of how information services contribute to efficiency and a useful set of metrics and reporting that can be used to demonstrate this.
Winning new business is a crucial part of the business development process but without the valuable input of the information team, this couldn't happen. In the first article on documenting the value chain, we offer practical advice on how information professionals can demonstrate their value in this process and includes useful charts and steps you can take to do this.
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Document the value chain, and transform the way you think about, manage and report on your product portfolio and your information service contributions to your organisation goals.
Focus on Value Chain
Director of Research Robin Neidorf describes the benefits of a Consulting Pilot on Value Chain, to tailor this process to your needs and environment:
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Consulting Pilot on Value Chain