CHAPTER 6
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
Transaction information
verses analytical information
The Value of Timely Information
qTimeliness is an aspect of information that depends on the
situation
Á Real-time
information – immediate, up-to-date
information
Á Real-time system – provides real-time information in response to query requests
Á Business decisions
are only as good as the quality of the information used to make the decisions
Á You never want to
find yourself using technology to help you make a bad decision faster
Understanding the Costs of
Poor Information
The four primary sources of low
quality information
1.Online
customers intentionally enter inaccurate information to protect their privacy
2.Information
from different systems have different
entry standards and formats
3.Call
center operators enter abbreviated or erroneous information by accident or to
save time
4.Third
party and external information contains inconsistencies, inaccuracies, and
errors
Potential business effects
resulting from low quality information
qInability
to accurately track customers
qDifficulty
identifying valuable customers
qInability
to identify selling opportunities
qMarketing
to nonexistent customers
qDifficulty
tracking revenue due to inaccurate invoices
qInability
to build strong customer relationships
Understanding the Benefits of Good Information
Á High quality information can
significantly improve the chances of making a good decision
Á Good decisions can directly
impact an organization's bottom line
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