2.3 Quality of Information

Question 1

Give some characteristics of good quality information?

Answer 1

• accurate, unbiased, relevant, valid, comparable, reliable, up to date, easily understood, cost effective, fit for purpose.

Question 2

What is the importance of good quality information.

Answer 2

• Information is innovative and trustworthy, as it may have been collected by the business itself, which means it may also be more suitable and fitted to the needs of the business
• Decision making is more relevant and suitable to the business, as the business can be more efficient with decision making
• Supports the business in meeting customer needs
• More efficient storage of information

Question 3

What are the consequences of poor quality information?

Answer 3

• Information won’t be as relevant to the business, and thus fit for the purpose it is required for
• Can show lack of professionalism, and lead to problems with decision making if it is not of a good standard
• Business may face legal consequences, if they publish or share incorrect information, and could be in breach of some of the legislation’s regarding people’s information
• Wastage of money on collection poor quality information