CHAPTER 6: VALUING ORGANIZATIONAL INFORMATION.

OrGaNiZaTiONaL InFoRmATiOn:-

Ø  Information is everywhere in an organization.

Ø  Employees must be able to obtain and analyze the many different levels, formats and granularity of organizational information to make decisions.

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

Ø  Levels, formats and granularity of organizational information.

ThE VaLuE Of TrAnSnAtIoNaL AnD AnALyTiCaLLy InFoRmATiOn:-  

·  Transaction information verses analytically information.

ThE VaLuE oF TiMeLy InFoRMaTiOn:-

ü  Timeliness is an aspect of information that depends on the situation.

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

ü  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.

·        > Characteristics of high-quality information include;

·         Low quality information example;

 

UnDeRsTaNDiNg ThE CoStS oF PoOR InFoRMaTiOn:-

v  The four primary sources of low quality information include;

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

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

ü  Call center operators enter abbreviated or erroneous information by accident or to save time.

ü  Third party and external information contains inconsistencies, inaccuracies and errors.

v  Potential business effects resulting from low quality information include;

ü  Inability to accurately track customers.

ü  Difficulty identifying valuable customers.

ü  Inability to identify selling opportunities.

ü  Marketing to nonexistent customers.

ü  Difficulty tracking revenue due to inaccurate invoices.

ü  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.