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Attributes To Good Quality Information

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Madhukar Saxena
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32 views5 pages

Attributes To Good Quality Information

Uploaded by

Madhukar Saxena
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Attributes to Good quality Information

•Relevant / Appropriateness : Information obtained and used should be needed for


decision-making - it doesn't matter how interesting it is. Businesses are often
criticised for producing too much information simply because their information
systems can "do it".
•Completeness: Information needs to be timely if it is to be actioned. For example,
the manager of a large retail business needs daily information on how stores are
performing and which products are selling well (or not) so that immediate action can
be taken. To improve the speed with which information is produced, businesses
usually need to look at upgrading or replacing their information systems.
•Accurate: Information should be free from errors. Users of information should be
told whenever assumptions or estimates have been used. Accurate information is
usually a function of accurate data collection. If information needs to be extremely
accurate, then more time needs to be allocated for it to be checked.
•Meeting user needs : Different users have different needs. Top Management people
doesn't require detailed week's production or sales listings – they wants a summary
of the key facts. A quality control supervisor want detailed information about quality
testing results rather than a brief one-line summary of how things are going.
Attributes to Good quality Information
•Easy to use and understand: Information should be clearly presented (eg, use
summaries/charts) and concise. It also needs to be communicated using an
appropriate medium (eg email, printed report, presentation). Businesses should also
consider developing "templates" which are used consistently throughout the
organisation so users get used to seeing information in a similar style.
•Worth the cost: Information costs money. Data is costly to collect, analyse and
report. Information takes time to read and assimilate. All users should question
whether the information they recieve/have requested is worthwhile.
•Reliable: Information should come from authoritative sources. It's good practice to
quote the source used - whether it be internal or external sources. If estimates or
assumptions have been applied, these should be clearly stated and explained.
•Availability/accessibility: Information should be easy to obtain or access.
Information kept in a book of some kind is only available and easy to access if you
have the book to hand. A good example of availability is a telephone directory, as
every home has one for its local area. It is probably the first place you look for a
local number.
Attributes to Good quality Information
•Objectivity / conciseness : Information should be in a form that is short enough to
allow for its examination and use. There should be no extraneous information. For
example, it is very common practice to summarise financial data and present this
information, both in the form of figures and by using a chart or graph. We would say
that the graph is more concise than the tables of figures as there is little or no
extraneous information in the graph or chart. Clearly there is a trade-off between
level of detail and conciseness.
•Presentation: The presentation of information is important to the user. Information
can be more easily assimilated if it is aesthetically pleasing. Many organisations use
presentation software and show summary information via a data projector. These
presentations have usually been well thought out to be visually attractive and to
convey the correct amount of detail.
•Timliness: Information must be on time for the purpose for which it is required.
Information received too late will be irrelevant. For example, if you receive a
brochure from a theatre and notice there was a concert by your favourite band
yesterday, then the information is too late to be of use.
Information & Decision Making
Types of Managerial Decisions

Programmed decisions: Apply solutions that are readily available from past
experiences to solve structured problems. Structured problems are ones that are
familiar, straightforward, and clear with respect to information needs.Best applied
to routine problems that can be anticipated.

Non programmed decisions: Develop novel solutions to meet the demands of


unique situation that present unstructured problems. Unstructured problems are
ones that are full of ambiguities and information deficiencies. Commonly faced by
higher-level management.

Crisis decision making: A crisis involves an unexpected problem that can lead to
disaster if not resolved quickly and appropriately. Remember that speed matters.
Remember that slow counts, too. Respect the danger of the un-familiar. Value the
skeptic.Be ready to “fight fire with fire.”
Information & Decision Making
decision-making Role of Information
Steps
Identification and One needs information to identify a problem and put it in a
structuring of structured manner. Without information about a problem or
opportunity, the decision-making process does not even
problem/
start.
opportunity
Putting the Without information about the context in which the problem
problem/ has occurred, one cannot take any decision on it. In a way,
the .information about the context defines the problem.
opportunity in
context
Generation of Information is a key ingredient in the generation of
alternatives alternatives for decision-making. One has to have
information about possible solutions to generate alternatives.

Choice of best Based on the information about the suitability of the


alternative alternatives, a choice is made to select the best alternative.

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