Making Business Information Better

Intro

Small businesses often don't know how to make quality business information, it is a problem and hopefully this flyer can make businesses realize this and make appropriate adjustments

Characteristics Of Good Information

Valid

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.


Reliable

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


Accessible

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

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

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

Types Of Information: Having primary information as oppose to secondary is much better because you know yourself the result are accurate because you are the one that carried the research out another example is if you were presenting some informational research to the council they will appreciate your information you have gathered yourself rather than information you have picked up externally. On the other hand secondary information will come in much larger quantities which could make more of an impact it will also more than likely come in wider scale areas and produce various different types of information as oppose to smaller amounts produced by primary information. Both and all types of information needs to be appreciated as they all have their benefits. If the council were to carry out some primary research in the form of a questionnaire from the local community it will be better than outsourcing through previously gathered information in other area as you can rely on that information and it wont be fit for purpose. It will also be much more cost effective than paying for information from a secondary source.

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?