Quality Information: Difference between revisions
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Accurate information is based on correct and comp...") |
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Timely information is information that is produced in time for its intended use. | Timely information is information that is produced in time for its intended use. | ||
Relevant information is information that directly pertains to both the context and to the subject it references. | Relevant information is information that directly pertains to both the context and to the subject it references. | ||
Just barely sufficient information is information that is sufficient for the purpose for which it is generated, but only so. | Just barely sufficient information is information that is sufficient for the purpose for which it is generated, but only so. | ||
For information to be worth its cost, an appropriate relationship must exist between the cost of information and its value. There are costs for developing an information system, costs of operating and maintaining that system, and costs of your time and salary for reading and processing the information the system produces. | |||
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Latest revision as of 11:37, 11 November 2013
Description
Good information is accurate, timely, relevant, just barely sufficient, and worth its cost. Accurate information is based on correct and complete data, and it has been processed correctly as expected. Timely information is information that is produced in time for its intended use. Relevant information is information that directly pertains to both the context and to the subject it references. Just barely sufficient information is information that is sufficient for the purpose for which it is generated, but only so. For information to be worth its cost, an appropriate relationship must exist between the cost of information and its value. There are costs for developing an information system, costs of operating and maintaining that system, and costs of your time and salary for reading and processing the information the system produces.