CHAPTER 6 : VALUING ORGANIZATION INFORMATION


ORGANIZATIONAL INFORMATION
-          Information is everywhere in an organization.
-          Employees must be able to obtain and analyse the many different levels, formats, and granularities of organizational information to make decisions.
-          An organization is performing by successfully collecting, compiling, sorting, and    analyzing  information.
-          Levels, formats, and granularities of organizational information


 THE VALUE OF TRANSACTIONAL AND 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 request


THE VALUE OF QUALITY INFORMATION
-          Characteristics of high-quality information include:
·         Accuracy
·         Completeness
·         Consistency
·         Uniqueness
·         Timeliness


UNDERSTANDING THE COST OF POOR INFORMATION
-         The four primary sources of low quality information :
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 :
·        Inability to accurately track customers
·        Difficulty identifying valuable customers
·        Inability to identify selling opportunities
·         Marketing to non-existent 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 decision can directly impact an organization’s bottom line

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