Valuing Organizational Information

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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
  • Information granularity –refers to the extent of detail within the information (fine and detailed or coarse and abstract)
  • Levels, formats, and granularities of organizational information

The Value of Transactional and Analytical Information

Transactional information


  • encompasses all of the information contained within a single business process or unit of work
  • primary purpose: to support the performing of daily operational tasks
  • Org. capture & store transactionalinfo in database & use it when performing operational tasks & repetitive decisions
  • Eg: withdrawing cash from ATM, making airline reservation, purchasing stock

Analytical information

  • encompasses all organizational information
  • primary purpose : to support the performing of managerial analysis tasks
  • Is usedwhen making important ad hoc decisions
  • Eg: trends, sales, product statistics, future growth projections


The Value of Timely Information


Timeliness is an aspect of information that depends on the situation
Real-time informationimmediate, up-to-date information
Real-time systemprovides real-time information in response to query requests

The Value of Quality Information

Characteristics of high-quality information include:
Accuracy are all the values correct? For example, is the name spelled correctly? Is the dollar amount recorded properly?
Completeness are any of the values missing? For example, is the address complete including street, city, state, and zip code?
Consistency is aggregate or summary information in agreement with detailed information?
•For example, do all total fields equal the true total of the individual fields?
Uniqueness is each transaction, entity, and event represented only once in the information?
•For example, are there any duplicate customers?
Timeliness is the information current with respect to the business requirements? For example, is information updated weekly, daily, or hourly?

Low quality information example


Muhammad Imran

Developer

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