The Third Eye: Are You Knowledgeable About Information?

New Delhi: In the contemporary era, success heavily relies on the capacity to make informed decisions—both personally and professionally.

Knowledge empowers individuals to discern actions to take and those to avoid.

This allows for discretion in the workplace, facilitating smooth interactions not only with superiors but also with peers, leading to significant contributions towards organizational enhancement.

This can be viewed as a key management skill, indicating that effective management is closely tied to adept information handling—whether internal or external—and to the understanding of the people involved.

Even a family functions as a small organizational unit, where the head must possess the traits of a competent manager while raising children and addressing family matters.

Innocence is no longer bliss; one must maintain a reasonable awareness of their surroundings for personal safety and well-being.

It is crucial to observe what is seen, absorb that which is observed, and analyze the absorbed information to extract learning.

The utilization of intelligence—which stems from information—is what can be described as smart living.

To be smart entails the capacity to achieve superior results or enhanced productivity from available resources such as money, human assistance, and time.

Information is defined as an intelligible fact or data that provides insights previously unknown.

Being better informed than others can create a competitive edge in contexts where that information is pertinent.

Knowledge of past events and present circumstances enriches one's understanding, but having foresight—often derived from analyzing this knowledge—can be the ultimate key to success.

Information about future events is known as intelligence, which can be sourced directly or inferred from a competent analysis of existing public information.

By definition, intelligence refers to specially obtained information of proven reliability that offers a glimpse into the future. Information with intelligence value is vital not only for national security but also for personal safety and business growth, as it allows one to visualize both upcoming opportunities and risks.

Today, intelligence is a crucial factor in corporate and managerial success.

Major corporations invest in establishing intelligence units to analyze market conditions and scrutinize competitors.

Being well-informed signifies having the right information at the right moment, as well as having information that distinguishes a decision from a mere guess.

Moreover, being well-informed is not a one-off occurrence; it requires ongoing awareness as fresh information continuously emerges.

Being information savvy is essential for progress in any domain.

Information-savvy individuals exhibit certain characteristics. Firstly, they tend to read extensively—one who avoids reading cannot be truly well-informed. They prefer to categorize information, demonstrating an inherent ability to analyze the facts at hand. They maintain a logical thought progression and swiftly navigate the What?, Why?, and Where? in any scenario.

Secondly, information-savvy individuals possess an insatiable curiosity rooted in a spirit of inquiry. Remember, information does not come to you; you must pursue it.

Thirdly, such individuals have a keen interest in human psychology and behavior. All business and social interactions are human activities, and it is essential to understand the origins of others' responses.

Fourthly—and this is crucial—the ability to identify the most valuable information amidst the noise is a 'gift' in today's fast-paced world. Not everyone possesses this skill. The ability to discern essentials from non-essentials aligns with the renowned Pareto's Law, which states that 'a significant few outweigh the insignificant many'. Finally, information-savvy individuals lean towards credible opinions rather than gossip. In an era rife with misinformation and cyber fraud, ensuring the reliability of the information acted upon is paramount—this can be achieved through a double-checking mechanism.

A wealth of information can be accessed through open sources. Publications and online databases are invaluable resources. The government is the largest information publisher. Professional associations disseminate useful insights in specialized fields, as exemplified by the Harvard Business Review (HBR) and the Journal of American Medical Association (JAMA).

The Stanford Research Institute generates and distributes special reports on markets and industries to members for a fee.

Traditional libraries remain as significant as ever as centers of knowledge.

Media reports from credible investigative journalists represent another source of open information. Today, 'Think Tanks' produce a considerable amount of information, though it is advised to accept their facts without uncritically endorsing their conclusions. Meetings and conferences have emerged as major sources of business intelligence, as have industry fairs and exhibitions. Caution is warranted for those who rely heavily on online information; not all of it can be deemed trustworthy, and social media has become an instrument of 'influence warfare'.

A corporate entity may still be overlooking the vast pool of information available both within and outside the organization, primarily due to inadequate interaction systems with managers, consultants, and employees, as well as insufficient feedback collection and analysis from suppliers, bankers, and customers. Business organizations are beginning to recognize this, understanding that while no one person may know everything, 'everyone knows something'.

Information or knowledge is a critical tool for success, and organizational leaders must strive to enhance its quantity through any means necessary. They should aim to harness the 'tacit knowledge' that today's employees carry. Fostering the observation skills of everyone should be a priority. As previously stated, we see without observing, observe without absorbing, and absorb without discerning, leading to mental clutter. Additionally, there is a lesson for leaders from Albert Einstein, the greatest scientist of all time, who famously said, 'Imagination is more important than knowledge'.

This profound observation suggests that being able to perceive the broader context beyond what is immediately visible is crucial. Imagination enhances anticipatory abilities and fosters analytical reasoning. Effective communication also plays a vital role in knowledge enhancement—those conveying information must eliminate any ambiguity in its interpretation. Those seeking information should approach their quest with enthusiasm, presuming that the answers they seek are available somewhere. Above all, understanding the concept of confidentiality in an organizational context is essential when managing information. In today's competitive landscape, all members must be aware of what constitutes the organization’s 'exclusive' information.

The significance of information has escalated due to the rapid pace at which business transactions occur and decisions must be made. Globalization has set a new standard for competitiveness, amplifying the need to monitor competition.

Furthermore, there must be a certain level of completeness in the information one possesses for sound decision-making. This is because knowledge is often packaged integrally—for instance, a business owner managing employees must be aware of laws regarding workplace harassment, just as a teacher must understand child psychology and parental stress as part of an integral package.

Finally, data analytics has gained newfound significance as a knowledge enhancer, and this is how Artificial Intelligence (AI) is transforming the business landscape. It facilitates the evaluation of matters ranging from authentic user reviews and purchasing trends to customer feedback more rapidly than ever.

The larger the data reservoir, the better the application of AI in decision-making. AI is producing 'writing assistants' to bolster efforts that enhance company productivity. With rising living standards, automation is increasingly in demand, and AI is aiding this shift. However, while AI represents the most advanced application of Internet technology, it is limited by the quality of the data fed into the system. It is important to recognize that there are both promises and challenges associated with AI. Machine learning helps boost productivity by refining the processing of information. Nevertheless, AI operations cannot fully succeed without human intellect, which provides the logical reasoning and imagination that machines lack.

(The writer is a former Director of the Intelligence Bureau. Views are personal)