CHAPTER 6: VALUING ORGANIZATIONAL INFORMATION

CHAPTER 6: VALUING ORGANIZATIONAL INFORMATION

Assalamualaikum..hello everybody..! 

            0rganizational Information

 Information is everywhere in an organization

•         Employees must be able to obtain and analyze the many different levels, formats, and granularities of organizational information to make decisions

•         Successfully collecting, compiling, sorting, and analyzing information can provide tremendous insight into how an organization is performing

Table below shows the Levels, Formats, and Granularities of Organizational Information.

While, the below diagram shows the transactional versus 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 decisions

•         You never want to find yourself using technology to help you make a bad decision faster

            

             Here some of characteristics of high-quality information include:

             Picture below shows the Low-Quality Information Example

            Understanding The Cost Of Poor Information

            The four primary sources of low quality information include:

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 inconsistencies, inaccuracies, and errors

Potential business effects resulting from low quality information include:

–     Inability to accurately track customers

–     Difficulty identifying valuable customers

–     Inability to identify selling opportunities

–     Marketing to nonexistent customers

–     Difficulty tracking revenue due to inaccurate invoices

–     Inability to build strong customer relationships

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

             Thats all from me..thank you for visiting.. :)

                                                                      

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