Overcoming Information Hurdles with Corporate Taxonomy

Information ManagementOrganizing and classifying corporate information is one of the solid foundations of a business. The abundance of information sources, channels, and other delivery platforms make management of information a complicated hurdle your company should pass.

Information, despite its dynamic nature, will always be a source of competitive advantage. To harness its capabilities, you must manage information in a way that is easy to identify and classify. Categorization allows for better management of content.

One way you can do this is through corporate taxonomy.

Defining Corporate Information Taxonomy

Taxonomy is one way you can classify and assign structure to gathered information. These types of structures consist of numerous levels and sublevels (nodes and subnodes). Each of these aligns with a particular type or category of information.

Believe it or not, you actually work with taxonomies every day. Those folder structures you use to manage files on your computer are simple examples.

What Effective Taxonomies Have

Taxonomies that work well require well-thought out approaches that focus on proper categorization, as well as on the relation between units of information. How you can retrieve and access these data at different points in time matters as well.

According to Métier, a specialist in business optimization, there are different types of taxonomies. For example, functional taxonomy represents your business model and also organizes information from your company’s performance. Organizational taxonomy reflects your department’s functions and focuses on Accounts Payable, Marketing, and Procurement.

Establishing a Systematic Structure

A well-constructed taxonomy classifies your information in a systematic manner. Thus, documenting and identifying organizational content is a key factor in taxonomy development. Still, convent inventories should only be mere inputs in the process. Also, remember to evaluate the impact of initiatives in your vision statement.

When developing a taxonomy structure for your business, always remember the long-term objectives of your organization. Taxonomy development is not just a one-time thing — it is a series of tasks that enhance your business, if you do it right.