Valuing Organizational Information

 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 granularity of organizational information to make decisions
• Successfully collecting, compiling, sorting and analyzing information can provide tremendous insight into how an organization is performing
•  Levels, formats and granularity of organizational information

THE VALUE OF TRANSNATIONAL AND ANALYTICALLY INFORMATION

• Transaction information verses analytically information
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             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 requests

               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 decision faster

-        Characteristics of high-quality information include;

-   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 entry standards 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.

- Potential business effects resulting from low quality information include;

• Inability to accurately track customers.
• Difficulty identifying valuable customers. 
• Inability to identify selling opportunities. 
• Marketing to nonexistent 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 decisions can directly impact an organization's bottom line.