Information management is a seemingly overlooked area of data management, but arguably one of the most important that I recruit for. It isn’t a trending job title like data science, but is key to data governance and the accuracy all the companies I work with crave when they are hiring their next analytics champion.
What does the market say?
The market has sharply woken up to the benefits of information management due to the endless benefits it presents to organisations, such as:
Accuracy and integrity of data:
It goes without saying that any business will want to ensure the insights derived from data are accurate. This means analysing how raw data is handled by the business from when it is first collected to ensure its integrity.
Cost:
With more accurate data a business is able to be more targeted and conversely more effective with outbound activities such as direct marketing and strategic risk prevention. Properly handled data is pivotal to financial reporting. If a business can interpret their data correctly, this can decrease the likelihood and risk of being slapped with a fine from the FCA for noncompliance. Which are not only costly for business and individuals, but also reputation damaging.
As a recruiter, I know that professionals in this area are high in demand because this is a relatively new area of ‘data’. There aren’t masses of experienced information management professionals available, and by the nature of supply and demand, skilled professionals are able to charge a contract rate of anywhere between £500 - £1,200 per day and £60-100k in the perm market.
In addition to this, the marketplace is becoming populated with Data Quality Analysts working as Information Management specialists. Not all of these will have the experience or knowledge to effectively review business processes to ensure they are compliant with regulations, potentially exposing a business to the same risks as having no information management department at all!
Some organisations have taken a new approach to this problem by training junior candidates with information management and data governance backgrounds. This approach does beg the question—if an organisation brings in professionals to ensure information is managed correctly, what knowledge can they teach, and expect to be taught?
I’d be interested to hear your thoughts on the topic and what your experience is being part of an information management team or creating one. What challenges have you faced?
