CHAPTER 6: VALUEING ORGANIZATIONAL INFORMATION
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 Transactional and Analytical Information
- Packing slip
➽ The Value of Timely 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 Transactional and Analytical Information
- Transactional Information
- Sales receipt
- Airline ticket- Packing slip
- Analytical Information
- Product Statistics
- Sales Projections
- Future growth
- Trends
➽ The Value of Timely Information
- Timeliness is an aspects 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 request
➽ The Value of Quality Information
- Business decisions are only as good as he 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:
- Accuracy
- Completeness
- Uniqueness
- Timeliness
➽ 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 contaiins inconsistences, inaccuracies and errors.
- Potential business effectts resulting from low quality information include:
- Inability to accurately track customers
- Difficulty indentifying valueble customers
- inability to identify selling oppurtunities
- 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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