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
THE VALUE OF TIMELY INFORMATION
- Timeliness is an aspect of information that depends on the situation
- 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
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