2.3 Quality Of Information (VACCUUR (Comparable (Information that can be…
2.3 Quality Of Information
Information that can be compared to similar information
Information that has all the available data needed within it
Information that is correct in all details
showing no prejudice for or against something; impartial
information that is correct and can be used for the purpose that it is needed
incorporating the latest developments and trends
closely connected or appropriate to what is being done or considered
A stakeholder is a person who has an interest in the actions of a business i.e. having a ‘stake’. E.g. owners, managers, employees, customers etc
Importance of good quality information
The more reliable the information, the better quality decisions as it provides a clear focus for objectives.
Research information could be the basis of innovation
Sales information could be used to inform strategic decisions.
If this information is inaccurate or biased, it would negatively affect the decisions being made and is likely to make them unsuccessful.
Consequences of poor quality information
Poor quality information can lead to bad decisions being made The impact of this could be a project failing or a missed opportunity. Longer term this could impact the information being given to the organisation which could mean they receive inaccurate data or their reputation being damaged
A research project only interviews a small sample of people. The conclusions this provides may not be applicable to the wider general public. Therefore, the product then created may not sell as well as intended.