CHAPTER 6: VALUING ORGANIZATIONAL INFORMTION

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.

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 yoursself using technology to help you make a bad decision faster

THE VALUE OF TIMELY INFORMATION

Timeliness is an aspect of information that depends on the situation.

-Real-time information: immediate, up-to-date information which is latest information . No absolute information to prefer for improve report information.

-Real-time system: provides real-time information in response to quiery requests

.UNDERSTANDING THE COSTS OF POOR INFORMATION

The poor 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 inconsisstencies, inaccuracies, and errors

Potentional business effects resulting from low quality information include:

·         Inability to accurately track customers

·         Difficulty identifying valueble customers

·         Marketing to nonexistents customers

·         Inability to build strong customer relationships