Organization information
Information is everywhere in an organization. When
addressing a significant business issue , employees must be able to obtain and
analyze all the relevant information so they can make the best decision possible
.
The value of transactional and analytical information
The value of timely information
Real time information means immediate, up-to-date
information. Real time systems provide real-time information in response to
query requests .
The value of quality information
Understanding the costs of poor information
- Inability to accurately track customers
- Difficulty identifying the organizations’ most valuable customers
- Inability to identifying selling opportunities
- Difficulty tracking revenue because of inaccurate invoices
- Inability to build strong relationship .
Understanding the benefits of good information
1)
Can significantly improve the chance of making a
good decision and directly increase an organization’s bottom line
2)
Ex: Lillian Vernon Corp, a catalog company, used
web analytics to discover that men preferred to shop at Lillian Vernon’s
website instead of looking through its paper catalog.
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