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BUSINESS DRIVEN TECHNOLOGY Chapter Six: Valuing Organizational Information PowerPoint Presentation
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BUSINESS DRIVEN TECHNOLOGY Chapter Six: Valuing Organizational Information

BUSINESS DRIVEN TECHNOLOGY Chapter Six: Valuing Organizational Information

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BUSINESS DRIVEN TECHNOLOGY Chapter Six: Valuing Organizational Information

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  1. BUSINESS DRIVEN TECHNOLOGY Chapter Six: Valuing Organizational Information

  2. CHAPTER SIX OVERVIEW • Information is everywhere in an organization • Employees must be able to obtain and analyze the many different levels, formats, and granularities of organizational information to make decisions • Successfully collecting, compiling, sorting, and analyzing information can provide tremendous insight into how an organization is performing

  3. THE VALUE OF TRANSACTIONAL AND ANALYTICAL INFORMATION • Transactional information – encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks • Analytical information – encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks

  4. THE VALUE OF TIMELY INFORMATION • Timeliness is an aspect of information that depends on the situation • Real-time information – means immediate, up-to-date information • Real-time systems – provide real-time information in response to query requests

  5. THE VALUE OF TIMELY INFORMATION • Real-time systems can help organizations make faster and more effective decisions

  6. THE VALUE OF QUALITY INFORMATION • Business decisions are only as good as the quality of the information used to make the decisions • The five characteristics of high-quality information include • Accuracy • Completeness • Consistency • Uniqueness • Timeliness

  7. THE VALUE OF QUALITY INFORMATION • The four primary sources of low-quality information include: • Online customers intentionally enter inaccurate information to protect their privacy • Information from different systems that have different information entry standards and formats • Call center operators enter abbreviated or erroneous information by accident or to save time • Third party and external information contains inconsistencies, inaccuracies, and errors

  8. Understanding the Costs of Low-quality Information • Potential business effects resulting from low-quality information • Inability to accurately track customers • Difficulty identifying valuable customers • Inability to identify selling opportunities • Marketing to nonexistent customers • Difficulty tracking revenue due to inaccurate invoices • Inability to build strong customer relationships – which increases buyer power

  9. Understanding the Benefits of High-Quality Information • High-quality information can significantly improve the chances of making a good decision • Good decisions can directly impact an organization's bottom line