CHAPTER 6 : Valuing Organizational Information

Organization Information

The Value of Transactional and Analytical 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.

The Value of Quality Information

Business decisions are only as good as the quality of the information used to make the decision

Characteristics of high-quality information include :

·         Accuracy

·         Completeness

·         Consistency

·         Uniqueness

·         Timeliness

Understanding the Costs of Poor Information

Primary Sources :

1. Online customers intentionally enter inaccurate information to protect their privacy.

2. Information from different systems have different entry standards and formats.

3. Call Center operators enter abbreviated or erroneous information by accident or to save time.

4. Third party and external information contains errors.

EFFECTS :

-          Inability to accurately track customers

-          Difficulty identifying selling opportunities

-          Inability to identify valuable customers.