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Information Economics - The Intersection of Value, Risk and Cost

Information Economics is managing and leveraging information created and received by an organisation with a view to the bottom line. Every business needs an enterprise-wide information strategy that aims to reduce risk, ensure compliance, lower costs, and now with the emergence of big data, prepare for analytics. Information Economics provides a comprehensive and collaborative strategy to help organisations optimise information value and limit risk at every stage from the initial creation of records and information across their active life, right through to secure destruction.

Not every aspect of Information Economics can be transparently assessed in terms of cost or savings. Information risk might seem difficult to quantify economically, but avoiding information catastrophe must be a top priority as the consequences can be so severe. The need to mitigate risk however, must be balanced with an organisation’s overriding need to allow its people the freedom to work efficiently, extracting maximum value from its information.

This latest chapter from our Information eBook examines the individual threats and explains how to plan a strategy to avoid disaster and get a positive Return on Information.

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