Making Business Information Better
Characteristics Of Good Information
This would be information that is classed as correct or usable by the subject you are studying/ using. It will be used for the purpose that is needed. Valid information would not always be classed as information that is 100% true all of the time sometimes it would be used to create a point to an argument.
This would be classed as information that you can rely on for various points or reasons, in a time of need it would be something you go to, an example of reliable information would be if lets say your sales team supplies financial figures to the finance sector of your business on the recent sales, this would be classed as reliable due to it being carried out and made by a member of your company
This is information that will be easy to access for someone within your company without any questions and this is because it will be stored somewhere well known often information needs to be accessed quickly, the information still has to be secure however
Timely information would be something that is valid for that time frame sales figures from 50 years ago will not be valid or reliable because currency has dramatically changed since that time, it would also describe information that is there whenever it is needed.
Fit For Purpose
This basically means relevant information for what you will use it for, it would also mean that it is fit for use and completed instead of something that isn't finished and everything is checked, if you were going to open a store in a certain location you would need to research the competitors surrounding that location.
Cost effective research will be research that will be worth the time effort and money you put into it, time in a business needs to be used wisely as does money. Everything must be evaluated to see if it will be worth the time and effort that will go into the research to find the answer.
Appreciation Of Information
Purpose of Information: If information is purposeful then it has more power to persuade decision making and making changes, it improves information because it will show things such as patterns of information and trends all things that are appreciated much more than uncorrelated information because it actually has a reason to be there, a piece of purposeful information could be the difference between succeeding and failing clothing manufacturers would appreciate this information as it would tell them the most popular sizes so they make the most of them and less of the others. When the council receives its results from the questionnaire they know it is fit for purpose and reliable because if the questionnaire was about something in the community there will only be honest and constructive answers that come from that.
Sources of Information: Sources of the information you use is important because it gives the information validity and if the place the information is provided from is well known and trusted you know it will be reliable. It will also be fit for purpose to use which will aid its appreciation extensively big businesses need to be able to rely on the information they take in because it will make or break them in some cases it also makes the researching process much more simple and saves you time to execute things. If the councils informational source is the local community thanks to the questionnaire they will know that it is reliable. If the council did not know the exact source the information came from how could they reliably use it and trust it?