Organizational Information
· When
addressing a significant business issue, employees must be able to obtain
and analyse all the relevant information so they can make the best
decision possible
· Information
granularity refers to the extent of detail within the information
· Successfully
collecting, compiling, sorting, and finally analysing information from multiple
levels, in varied formats, exhibiting different granularity can provide
tremendous insight into how an organization is performing
The Value Transactional and Analytical Information
· Transactional
Information encompasses all of the information contain within a single
business process or unit of work, and its primary purpose is to support the
performing of daily operational tasks
· Analytical
Information encompasses all organizational information, and its primary
purpose is to support the performing of managerial tasks
The Value of Timely Information
· Real-time
information means immediate, up-to-date information
· Real-time
systems provide real-time information in response to query requests
The Value of Quality Information
· Accuracy
- Are all the values correct? For example, is the name spelled
correctly? Is the amount recorded properly?
· Completeness
- Are any of the values missing? For example, is the address
complete including street, city, state and zip code
· Consistency
- Is aggregate or summary information in agreement with detailed
information? For example, do all total fields equal the true total of the
individual fields?
· Uniqueness
- Is each transaction, entity, and event represented only once in
the information? For example, are there any duplicate customers?
· Timeliness
- Is the information current with respect to the business
requirements? For example, is information updated weekly, daily or hourly?
- Understanding the costs of poor information - wrong
information can lead to making the wrong decision that can cost time, money,
and even reputations
· Inability
to accurately track customers, which directly affects strategic initiatives
such as CRM and SCM
· Difficulty
identifying the organization's most valuable customers
· Inability
to identify selling opportunities and wasted revenue from marketing to
non-existing customers and non-deliverable mail
· Difficulty
tracking revenue because of inaccurate invoices
· Inability
to build strong relationship with customers
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