CHAPTER 6 : VALUING ORGANIZATIONAL INFORMATION

ORGANIZATIONAL INFORMATION

• Information is everywhere in an organization
• Employees must be able to obtain and analyze the many different levels, formats and granularity of organizational information to make decisions
• Successfully collecting, compiling, sorting and analyzing information can provide tremendous insight into how an organization is performing

Levels, formats and granularity of organizational information

THE VALUE OF TRANSNATIONAL AND ANALYTICALLY INFORMATION

Transaction information verses analytically information

        THE VALUE OF TIMELY INFORMATION  

-   Timeliness is an aspect of information that depends on the situation

-   Real-time information – immediate, up-to-date information

-   Real-time system – provides real-time information in response to query requests

• Business decisions are only as good as the quality of the information used to make the decisions.
• Characteristics of high-quality information include;

  THE VALUE OF QUALITY INFORMATION  

~Business decisions are only as good as the quality of the information used to make the decisions
~You never want to find yourself using technology to help you make a bad decision faster
~Characteristics of high-quality information include:  

-accuracy

-completeness

-uniqueness

-timeliness

• Low quality information example.

  UNDERSTANDING THE COSTS OF POOR INFORMATION  

 UNDERSTANDING THE BENEFITS OF GOOD INFORMATION 

-   High quality information can significantly improve the chances of making a good decision.

-   Good decisions can directly impact an organization’s bottom line.