The first thing you have to know is that information is everywhere in an organization. Each employees must be able to obtain and analyze the many different levels, formats and granularity of organizational information to make decision. Here is a pyramid to show you the example.
Meanwhile transactional information encompasses all the information contained within a single business process or unit of work, and its primary purpose is to support performance of daily operational task. On the other hand, analytical information encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks.
Timeliness is an aspect of information that depends on the situation such as real time information which is immediate and up to date information. It uses real time system that provides real time information in response to query request. On the other hand, business decisions are only as good as the quality of the information used to make the decisions. To get high quality information it must be accurate, complete, consistent, unique and timeliness.
Example of low quality information
There are many consequences of having poor quality information to the company such as marketing to non-existing customers, difficulty tracking revenue due to inaccurate invoices and inability to build strong customer relationships. The reason why there are low quality information are because online customers intentionally enter inaccurate information to protect their privacy, information from different systems have different entry standards and formats and call center operator enter abbreviated or erroneous information by accident or to save time. Therefore it is vital to have high quality information so that it can improve the chances of making a good decision as good decisions can have a huge impact on the company.
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