Tuesday, May 28, 2013

Inquiring Minds Want to Know

By Brian Kopack

A former classmate recently interviewed Warren Buffett.  Through her blog, she solicited possible
questions, so I submitted two.  I will detail the first here and save the second for a later post.

Millions of words have been spent, written and spoken, about Warren Buffet’s investing strategies and his methods for analyzing target companies.  If either were easy to synthesize, the world would have more billionaires.  No sense wasting a question.

My question: In your analysis, how dramatic has the attitude shift in business been toward needing to harness the power of information to spur increased competitiveness?

Too obvious?

Probably no one in business better understands the power of information.  His career is built using information the masses don’t have power to interpret.  And, since he can seemingly move mountains when he speaks, I thought it was worth a try to get him to explain why he thinks information is such a valuable commodity. Almost daily, results of a new survey are released explaining the trend in business toward embracing information in all areas of the organization – not just operations, but marketing, HR and logistics.

If Becky and her producers would have selected my question and Mr. Buffett would have answered, I speculate it would have sounded like this: Business should do everything possible to capture, manage and deploy its information effectively.  Few investments provide as great a potential return. Those that ignore this trend will be left behind.

It would have sounded more profound coming from him.

My advice, get all the information you can about getting all you can from your information.  If it seems like a lot, let Imaging Office Systems help.

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