WEEK 1 Flashcards
Why Learn About Information Systems in Organizations?
3
- Most organizations deal with digital information
- Need for digital tools
- Information systems (ISs) can cut costs and increase profits
− Set of interrelated components: collect, manipulate, store, and disseminate data and information
Information system (IS)
− Provides feedback to meet an objective
Information system (IS)
raw facts
Data
− Alphanumeric, image, audio, and video
Data
collection of facts organized in such a way that they have additional value beyond the value of the facts themselves
Information
Information should be easily _________ by authorized users so they can obtain it in the right format and at the right to meet their needs.
Accessible
information is error free. In some cases, inaccurate information is generated because inaccurate data is fed into the transformation process. [This is commonly called garbage in garbage out [GIGO]. ]
Accurate
information contains all the important facts. For example, an investment report that does not include all important costs is not complete.
Complete
Information should also be relatively economical to produce. Decision makers must always balance the value of information with the cost of producing it.
Economical
information can be used for a variety of purposes. For example, information on how much inventory is on hand for a particular part can be used by a sales representative in closing a sale, by a production manager to determine whether more inventory is needed, and by a financial executive to determine the total value the company has invested in inventory.
Flexible
information is important to the decision maker. Information showing that lumber prices might drop might not be relevant to a computer chip manufacturer.
Relevant
information can be depended on. In many cases, the reliability of the information depends on the reliability of the data-collection method. In other instances, reliability depend on the source of the information. A rumor from an unknown source that oil prices might go up might not be reliable.
Reliable
Information should be _________from access by unauthorized users.
Secure
Information should be _________, not overly complex. Sophisticated and detailed information might not be needed. In fact, too much information can cause information overload, whereby a decision maker has too much information and is unable to determine what is really important.
Simple
information is delivered when it is needed. Knowing last week’s weather conditions will not help when trying to decide what coat to wear today.
Timely
Information should be __________. This means that you can check it to make sure it is correct, perhaps by checking many for the same information.
Verifiable
is directly linked to how it helps decision makers achieve their organization’s goals
Value of information
value of information might be measured in?
2
− Time required to make a decision
− Increased profits to the company
DEFINING AND ORGANIZING RELATIONSHIPS AMONG DATA CREATES ___________
INFORMATION
