CHAPTER 6 : VALUING ORGANIZATIONAL INFORMATION
ORGANIZATIONAL INFORMATION
- When addressing a significant business issue, employees must be able to obtain and analysis all the relevant information so the y 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 & 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 : Immediate or up-to-date information.
- Real-time systems : Real-time information in response to query requests.
UNDERSTANDING THE COST OF POOR INFORMATION
- Using the wrong information can lead to making the wrong decision.
- It also cost time and even reputations.
- Inability to accurately track customers, which directly affects strategic inititatives such as CRM and SCM.
- Difficulty identifying the organization's most valuable customers.
- Inability to build strong relationship with customers which increases buyer power.
PRIMARY SOURCES OF LOW QUALITY INFORMATION
- Online customers intentionally enter inaccurate information to protect their privacy.
- Different systems have different information 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, inaccurate and errors.
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