From Data To Information To Knowledge To Action

4 November 2003

The success of any improvement initiative is often highly dependent upon the depth of information available to those participating in the effort. That information derives from data which is often locked deep inside some arcane accounting, production or business management system.

A rare gift is the ability to take that raw data and turn it into actionable information that fosters knowledge and leads to action. In the smallest of companies such information is in Quickbooks, Excel and Access. In larger companies, it can be deep inside proprietary information systems that only a select few in the business really understand.

The September issue of the AICPA’s Journal of Accountancy has one of the best overviews of information and accounting systems that I’ve ever seen. It does an excellent job of segmenting the marketplace and matching products to those segments. The author, Randy Johnston, is to be congratulated.

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