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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