Quality of information

Question 0

Define accurate

Answer 0

Error free and a true reflection of what it represents

Question 1

6 characteristics of good quality information

Answer 1

1. Accurate
2. Correctly targeted
3. Understandable
4. Complete
5. Relevant
6. Up to date

Question 2

Define correctly targeted

Answer 2

The question should be targeted at the people who are going to use it

Question 3

Define understandable

Answer 3

The levels of detail and language should reflect the users ability and meaning of any information should therefore be clear to the user.
A manager could misunderstand a complex table and order the wrong items

Question 4

Define and give an example for complete

Answer 4

Information should include all the data needed to make a decision
A missing postcode will delay the delivery of items

Question 5

Define and give an example for relevant

Answer 5

Information should not be included if it has no bearing on the users needs, data had to be relevant to the task you are trying to investigate
Don’t collect information on ice cream sales in Alaska if a new shop is being opened in California

Question 6

Define and give and example for up to date

Answer 6

Information should not be a reflection of an earlier state of affairs as information changes with time and without a date stamp it could be too old to be useful
Using a 5 year old mail list might end up sending letters to the deceased or people may have moved homes

Question 7

3 advantages of how good quality information can add value to a company

Answer 7

Monitoring progress to spot trends
Targeting of resources to gain a competitive advantage
Identify gaps

Question 8

How does monitoring progress and spotting trends add value to a company

Answer 8

The company could analyse the performance of the POS sales staff and warn till operators who are too slow or making too many mistakes. For spotting trends a company could analyse sales data to see if a product is declining in sales terms indicating it is going out of fashion

Question 9

How does targeting resources give add value to a company

Answer 9

If information identifies that a product is growing in popularity a company could choose to invest more in this productions promote growth even further

Question 10

How does identifying gaps in the market place add value to a company

Answer 10

It enables the development of new products to meet the need. Shampoo manufacturers developed a new size of bottle following the changes in airport security which limited the amount of liquids that could be carried on to the aircraft