Information and Data - 1

Information and Data

Data

            Transcription is what occurs when data is formatted and entered onto the system. This can affect the accuracy of the data though, as errors occur during transcription.

Electronic Data Interchange (or EDI) is the least error free method of transcription. It is the movement of data from one system to another electronically. You should select the most appropriate data capture techniques for the quantity and quality of data.

Information

Characteristics of information.

·         Accurate

·         Up-to-date

·         Complete

·         Relevant to the needs of the organisation

·         Easily interpretable (turning it into knowledge)

Source

Information can originate Internally (as a result of processing transactions inside the organization, for example) Externally, either in the forms of General external information (Treasury reports on the economy, for example) Operational external information (Information from suppliers, for example).  Additionally, we can say that information is Primary, where the information is first hand and gathered from the raw data by the business.  Secondary, where information has already been collected by other people

Nature

Information is either:  Qualitative (judgments and comments)   Quantitative (numerical) and can be collected Formally (collected through official channels, and tends to be more precise)   Informally (through channels such as newspapers, where information may be more vague)

Level

We already know that information can be: Operational (as a result of events and transactions)   Tactical (such as how fast lines are selling so they can make decisions) Strategic (showing the "bigger picture" and helping to make long-term decisions).

Time

Here, we can classify information into: Historical (records from the past) Current Future (for predicting trends)

Frequency

Information is provided to us:

In real-time, where the information is up-to-date as of that moment  Periodically, where information is only updated after a certain length of time (minutely, hourly, daily, etc)

Use

What is the information going to be used for?

Planning (strategical) Control (operational) Decisions (tactical)

Form

How are we receiving the information?

Written (reports) Visual (charts, etc)

Type

Information can be:

Sampled (snap shots of the organisation) Aggregated (built up over time) Disaggregated (seperating the various functions of the organisation)

Quality of information

Information is required to make informed decisions, but it's only good if it's useful. For information to be useful, there are certain characteristics we should be considering.

Brief

  Information overload is a major problem Only sufficient information is required, so it must be factual, concise, summarised and selective

Accuracy

This is fairly obvious. Information is only useful if it's accurate. If information is inaccurate, user confidence will be lost, so a confidence rating (how accurate it is) must be given to the information.

  Assumptions and probabilities should be clearly stated.

Up-to-date

How up-to-date the data must be vary according to need. Sales figures could be a week old, for example, but booking information must be accurate to a few seconds.

Timely

If information arrives too late, it is not useful For example, if "best selling lines" figures arrive after a replinishment order has been made this is of little use.

Detail level

  If the information is made too brief, information is lost. If information is too detailed, the meaning may be lost.

Appropriate format

Trends may be better shown in a chart Tables may be better for some numerical data.

Effective presentation

The way in which information is presented will affect the value that the Adience place on it. Information presented in an unprofessional or unplanned way may reduce the impact of the information.

Popular methods of presentation include:

·         Computer Printouts

·         Presentations

·         DTP

·         Videoconferencing

·         Intranet

The form of presentation depends on what you're trying to present.

Graphs and charts  Pie charts are good for showing shares, but too many segments make the chart     too cluttered and is off-putting.  Line charts are good ways of showing trends over time

Printed presentations

Bullet points are good for this Use of charts are effective for displaying numerical information

We already know that information is a commodity, and like many other commodities, correct marketing will make it easier for an organisation to present its data.

Retrieved from

"http://en.wikibooks.org/wiki/AQA_Information_and_Communication_Technology/ICT4/Information_and_Data"