CHAPTER 6: 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 granularities 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 granularities of organizational information.
The value of transational and analytical information: 

  • transactional information verses analytical information.
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 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
    • consistency 
    • uniqueness
    • timeliness
  • low quality information 
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, inaccurancies, 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.



   25 OCTOBER 2017
    WEDNESDAY









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