Improving Quality of information

By Lewis Madden

Types of information

Qualitative Data

Qualitative data is all about views of a customer or a user and data that is collected through things such as serves to collect data for a company to use. Most qualitative data is very subjective and is the own view or opinion by the person and not based on spastics when provided. Most qualitative data is usually a positive or negative view on a product or service with opinions by the users or customers. qualitative data can sometimes not be trusted for important dissensions as basing a important dissension on a small goop of customers may not be as important as looking at factual data.

Quantitative Data

Quantitative data is made up all factual data such as this that can be proven to be true and statistics and data that has be collected such as sales data. Quantitative data is usually provided by a company and is usually data that is number based and is a factual view of things through spastics.

Primary data

Primary data is data that the souse or the origin the main ways that primary data is gathered is by using things such as interviews to gather information from someone. Primary data is collected for a set purpose to be used for a subject or use so the data can be used or analyzed. Primary data can be expensive as it can only be gathered using surveys or interviews meaning that setting up expensive surveys and deploying them to gather the information.

Secondary Data

secondary data is information that has been gathered together that may not have total relents to the project or subject that it is used for. secondary data is usually a lot cheaper to gather as it is usually data that can be gathered using the internet and publicly available information. Because secondary data is gathered on the internet it may not be as trust worthy as the data could be fake or not correct but secondary data can be used in some cases.

Purposes of information

Business use information in many different ways and this is why information is so valuable to business. Information can be used in many different ways and there is 4 main ways that information is used by a company.

Analysis - Analysis is a way of gathering lots of data together to help to revile treads in data that has been gathered such as sales data can be analyses to help the company to understand what products are the most popular and help to also show what products are not selling very well. Collecting all of this data together makes it much more usable and can help to solve different types of issues that a company might have. Analysis can also be used to help to predicted future events such as helping to show what products will need to be stocked more often to help to keep up with the demand of a product and help to prevent a problem before it happens.

Gaining advantage - Companies are always looking for ways to improve sales and gain new customers to make more money. Companies can use information such as nearby events that are happing to help to draw in more customers by using the event as a chance to advantages there product or service this can help to draw new people in to buy. Any information gathered can usually be used to gain an advantage over competes such as finding out that a compeer goes out of business a company could then offer discounted prices to draw customers from the closed store to them using the knowledge that the other store is no longer open.

Operational support - Operational support makes use of information very well by using information gathered to help to improve a service or product. This is done by gathering information such as a Ice cream shop if there is lots of requests for one type of ice cream it can be recored and orders can be placed straight away so that the shop dose not run out of a popular product. This helps to keep a company ahead of a problem and stop it before it becomes a issue and all by the use of gathering information.

Decision Making - Companies can use information the improve there business and can be every effective at impinging the business. Using information that is gathered from its customers a business can desired to change things such as opening and closing times based on information gathered on sails and times of the day. This would allow the company to take that information gathered and allow them to only open the business at times that they know that they will make a very big profit and allow them to save money when they know there will be a low amount of profit coming in all using information that could be collected on sails.

Sources of Information

Internal Information

Internal information is information that is accessible only from within a business such as prevent and confidential information. Some of the types of internal information could be phone numbers and names of staff members that could be helpful for other parts of an organization.

External Information

Most External information is found on the Internet and is all public available for free online. Comical provided databases is the main source of external information. Governments also proved many different types of data and lots of data that could be used to be freely used. Data bases can also provide other types of information such as details about products and many other things that can be used as information for a company and is freely available for a company to use.