Lo1 – P2 characteristics of good information
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Standard of information:
Reliability
Validity
Relevant
Timeliness
Accessibility
Sufficiently accurate
Cost-effective
Appropriate
Suitability
What is information?
Information is data that has been planned and processed for a purpose to make it useful for business in decision making, operational support and gaining advantage.
Reliability
Reliable information is information that you can trust on as being correct. It should be precise, reliable with facts and provable. Information should be from a valid and trusted source with verifiable facts.
An example of reliable information would be: Information from sales department that is delivered to the financial department on the sales figures for previous month.
Validity
Valid information is information that is correct and can be used for the purpose that it is needed. For all information to be positive, it has to be accurate or else people may spread incorrect information and that might be wicked for the business. Any inacceptable information would be useless to a booklover of the information.
An example of valid information would be the number of employees in a HR department. This could be used for a group medical insurance.
Relevant
Information should be relevant to the purpose for which it is essential. It must be appropriate. It is one of the utmost vital structures that you need to make sure that information is relevant to your determination.
An example of relevant information might be the number of people pensions in a Finance department. The will facilitate the workers by having exact information about the person.
Timeliness
Information must be on time for the purpose for which it is obligatory. Information received too late will be unrelated. Timely is a significant characteristic of good information. Information is vital and it requests to make sure that you know that it is valuable in the present.
For example, a business would use existing sale figures to work out the recent profit and loss they are making or losing. They will use data that they have collected within maybe a week and not a long time ago.
Accessibility
Information should not be difficult to obtain or access. Accessible information is information that you can supply away and access it at extra time or when you next need it.
For example, in a IT department, they would use timely information to look for new technology yet they might put 4 weeks’ worth away and they can then access the information when they following time they want it.
Sufficiently accurate
Information needs to be accurate sufficient for the use to which it is going to be put. Information should be free from mistakes. It is very essential that information needs to be exact or else it is hopeless to the reader. You need to make sure that information is dependable and correct so that it is suitable.
For example, in Marketing department, there should be exact attendances of staff members so that each one can receive their bonuses.
Cost effective
Information should be accessible within set cost levels that might differ dependent on condition. If prices are too high to get information, an organisation may choose to seek somewhat less inclusive information away. In a lot of circumstances, a business may want to acquire information from other productions.
An example of this, may be a business purchasing information from another business round the area to understand what works well for them to progress overall deals. They are typically sold in methods such as surveys.
Appropriate
The information that you will gather will also need to be useful to your requirements. For example, if you assemble information and you don’t use it then it won’t be fit for determination.
For example, in an accounting department, if someone got a worksheet of a list of numbers with sale figures on it then the figures would not be fit for purpose as they would not know what to do with it.
Suitability
Information should cover all the details essential by the user. Otherwise, it may not be valuable as the base for building a decision. It is good for a purpose.
For example, in the marketing department, there should be exact information for the employees to work stress -free
According to me, a good information should consist of different characteristics such as accessibility, reliability, appropriateness and so on. This will make the information more suitable for people to read. Without these characteristics, the information would be useless and biased.
References:
Characteristics of good information
https://www.google.com/search?ei=eDiHW6bsIuewrgSK6quQAg;q=chartectrictics+of+good+uindimration;oq=chartectrictics+of+good+uindimration;gs_l=psy-ab.3..33i160k1.2334382.2342060.0.2342241.37.24.0.0.0.0.546.4810.2-2j4j3j3.12.0….0…1c.1.64.psy-ab..25.8.3544.0..0j0i67k1j0i10k1j0i203k1j35i39k1j0i13k1j0i8i13i30k1.0.vKkTHdVpYi8Characteristics of good information
https://www.linkedin.com/pulse/20141028075709-241876614-characteristics-of-good-quality-information-accurateCharacteristics of good information
https://smallbusiness.chron.com/characteristics-good-management-information-system-59060.htmlPhoto of good information
https://www.google.mu/search?q=photo+of+good+information;tbm=isch;tbo=u;source=univ;sa=X;ved=2ahUKEwix8P7YzpPdAhXRp4sKHS4CDnkQsAR6BAgFEAE;biw=1280;bih=887#imgrc=pUj5dLad7pcFNM:
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