CHAPTER 6 - VALUING ORGANIZATIONAL INFORMATION

CHAPTER 6

VALUING ORGANIZATIONAL INFORMATION

ORGANIZATIONAL INFORMATION

•  Information granularity refers to extent of detail within information ( fine and detailed or coarse and abstract)

The Value of Transactional and Analytical Information

* Transactional information encompasses all of the information contained within a single business process or unit of work , and its primary purpose is to support the performing of daily operational tasks
* Analytical information encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks

THE VALUE OF TIMELY INFORMATION 

* REAL- TIME INFORMATION means immediate , up-to-date information.
* REAL- TIME SYSTEMS provide real-time information in response to query request.

The Value of Quality Information

Understanding the Costs of Poor Information

Ø  Using the wrong information can lead to making the wrong decision.
Ø  Making the wrong decision can cost time, money and even reputations.

Potential business effects resulting from low quality information include:

o   Inability to accurately track customers
o   Difficulty identifying valuable customers
o   Inability to identify selling opportunities
o   Marketing to nonexistent customers and nondeliverable mail
o   Difficulty tracking revenue because to inaccurate invoices
o   Inability to build strong customer relationships with customers

UNDERSTANDING THE BENEFITS OF GOOD INFORMATION

• High quality information can significantly improve the chances of making a good decision and directly increase am organization's bottom line.

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