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VALUING ORGANIZATIONAL INFORMATION - Coggle Diagram
VALUING ORGANIZATIONAL INFORMATION
ORGANIZATIONAL INFORMATION
INFORMATION FORMATS
Document, presentation, spreadsheet, database
INFORMATION GRANULARITIES
Detail (fine), summary (coarse), aggregate
INFORMATION LEVELS
Individual, department, enterprise
THE VALUE OF TRANSACTIONAL AND ANALYTICAL INFORMATION
TRANSACTIONAL INFORMATION
Encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks
Sales receipt
Packing slip
Airline ticket
ANALYTICAL INFORMATION
encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks
Sales projections
Future growth
Product statistics
HIGH QUALITY INFORMATION
CHARACTERISTICS
Consistency
Uniqueness
Completeness
Timeliness
Accuracy
LOW QUALITY INFORMATION
PRIMARY SOURCES
Information from different systems have different entry standards and formats
Call center operators enter abbreviated or erroneous information by accident or save time
Online customers intentionally enter inaccurate information to protect their privacy
Third party and external information contains inconsistencies, inaccuracies, and errors
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
COST OF POOR INFORMATION
Difficulty identifying valuable customers
Inability to identify selling opportunities
Inability to accurately track customers