CHAPTER 6 : VALUING ORGANIZATIONAL
INFORMATION
LEVEL, FORMATS AND GRANULARITIES OF
ORGANIZATIONAL INFORMATION :
·
The value of Transactional and Analytical
information :
·
The value of Quality Information
(Characteristics of high-quality information) :
-
Accuracy
(the information must be correct. For example the name spelled correctly and is
the dollar amount recorded properly.)
-
Completeness
(The information must be complete)
-
Consistency
(All total fields equal the true total of the individual fields)
-
Uniqueness
(Different customers but have same details for example the address, name, and
age.)
-
Timeliness
(up-to date information. For example the information must update weekly, daily
even hourly.)
·
The value of Timely Information (Timeliness
is an aspect of information that depends on the situation) :
-
Real-time
information is immediately, up-to date information.
-
Real-time
system is provides real-time information in response to
query request.
·
The value of Quality Information
(low quality information example) :
-
Online customers intentionally enter
inaccurately information to protect their privacy.
-
Information from different systems have
different entry standards and formats.
-
Call center operators enter abbreviated or
errorneous information by accident or to save time.
-
Third party and externa; information
contains inconsistencies, inaccurancies and errors.
Potential
business effects resulting from low quality information includes :
1.
Inability to accurately track customer.
2.
Difficulty identifying valuable customers.
3.
Inability to identify selling opportunities
4.
Marketing to non-existent customers.
5.
Difficulty tracking revenue due to inaccurate invoices.
6.
Inability to build strong customer relationship.
The
benefits of Good Information :
1.
High quality information can significantly improve the chances of making a good
decision.
2.
Good decision can directly impact an organization’s bottom line.
xoxo,
dakwatsblogspot
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