Chapter 6 : Valuing Organizational Information

Organizational Information 

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

The Value Of Transaction And Analytical Information 

The Value Of Timely Information

- Timeless is an aspect of information that depends on the situation : 

1) Real time information- up-to

-date information

2) Real time system-real time information 

The Value Of Quality Information 

- Business need a quality information.

- Characteristic oh high-quality information include :

1) Accurancy 

2) Completeness

3) Consistency

4) Uniqeness

5) Timeless 

Understanding The Costs Of Poor Information 

- Four primary source of low quality information include : 

1) Online customer enter inaccurate information.

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 :

1) Inability to accurately track customers

2) Difficulty identify valuable customers

3) Inability to identify selling opportunities 

4) Marketing to nonexistent customers

5) Difficulty tracking revenue due to inaccurate invoices

6) Inability to build strong customer relationship

Understanding The Benefits Of Good Information 

- Can significantly improve the chances of making a good decision.