VALUING ORGANIZATIONAL INFORMATION
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
- Level, format, and granularities of organizational information
THE VALUE OF TRANSACTIONAL AND ANALYTICAL INFORMATION
- Transactional information verses analytical information
THE VALUE OF TIMELY INFORMATION
- Timeline is an aspect of information that depends on the situation
- Real - time information -immediate, up-to-date information
- Real-time system -Provide real-time information in response to query request
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 decisions faster
THE VALUE OF QUALITY INFORMATION
Characteristics of high-quality information include
- Accuracy
- Completeness
- Consistency
- Uniqueness
- Timeliness
Low quality information example
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 systems have entry standard 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
- Inability to accurately track customers
- Difficulty identifying valuable customers
- Inability to identify selling opportunities
- Marketing to nonexistent customers
- Difficult tracking revenue due to inaccurate invoices
- Inability to build strong customers relationships
UNDERSTANDING THE BENEFITS OF GOOD INFORMATION
- High quality information can significantly improve the chances of making a good decisions
- Good decision can directly impact an organization's bottom line
Hope you all can understand about this chapter :]
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