GIS Systems: Asset Management a Geographical Information

GIS Systems: Asset Management

A Geographical Information System (GIS) is not simply a useful tool to find one's place geographically. The best way to think of GIS as it is used in finance is as a kind of a 'smart map' that can link multiple databases and show the relationships between different bits of information (Armstrong 2008). These smart maps offer windows into the information resources of the database when users submit queries, and engage in the analysis and editing of the information (Armstrong 2008). This makes GIS a powerful business intelligence and knowledge management tool. GIS technology enables financial professionals to graphically visualize patterns, relationships and trends in the marketplace (Armstrong 2008). GIS technology is an acknowledgement of how the presentation of information affects how the mind can process information. The same data can look very different and yield different patterns than it would if it were presented in a table or as a list (Armstrong 2008). The database gains problem-solving capabilities vs. merely has information storage capabilities.

On a practical level, the technology enables effective consolidation of information into one spatial application so team members can all see the same files, at the same time, from a computer screen (Armstrong 2008). It ensures all decision-makers are on the 'same page' regarding information. This can save time -- and, by extension -- save money. All of the current information on the project can be accessed on a single desktop computer (Armstrong 2008). This reduces the chances of critical information getting 'lost in the shuffle' or of deadlines being overlooked. Paper documents that were once scattered around an office are now accessible on a single computer, and digital data is much easier to search for pertinent information (Armstrong 2008). In the new, knowledge-based economy, this is powerful. Raw information is not valuable in and of itself -- the information must be useful and useable.

For a groundbreaking new technology, GIS applications are fairly easy and intuitive to learn. Clients, project managers and other team members can all find value in the use of GIS (Armstrong 2008). The ability to locate documents quickly alone would justify the investment in the system. A team member can locate a critical document and immediately return to the task at hand, rather than shuffling through files (Armstrong 2008). Even more importantly, new ideas can be generated and shared based upon the ability to see information. Particularly for visually-oriented thinkers, GIS can be extremely valuable and all team members can benefit from the enhancement of their ability to see something, rather than merely read it or hear about it in words. 'A picture is worth a thousand words' (Armstrong 2008).