CHAPTER 6
VALUING ORGANIZATIONAL INFORMATION
LIBRARY UITM
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Organizational 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
Levels, formats, and granularities of organizational
information.
The Value of Transactional and Analytical Information
Transactional information verses 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
- Characteristics of high-quality information include:
- Accuracy
- Completeness
- Consistency
- Uniqueness
- Timeliness
Understanding the Costs of Poor Information
The four primary sources of low quality information include:
- Online customers intentionally enter inaccurate information to protect their privacy
- Information from different systems have different entry standards and formats
- Call center operators enter abbreviated or erroneous information by accident or to save time
- 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
High quality information can significantly improve the
chances of making a good decision
Good decisions can directly impact an organization's bottom
line
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