Characteristics of good information

An effective MIS assembles data available from company operations, external inputs and past activities into information that shows what the company has achieved in key areas of interest, and what is required for further progress. The most important characteristics of an MIS are those that give decision-makers confidence that their actions will have the desired consequences. Relevance The information a manager receives from an MIS has to relate to the decisions the manager has to make.

Characteristics of good information

Experience and research shows that good information has numerous qualities. Good information is relevant for its purpose, sufficiently accurate for its purpose, complete enough for the problem, reliable and targeted to the right person. It is also communicated in time for its purpose, contains the right level of detail and is communicated by an appropriate channel, i.

Further details of these characteristics related to organisational information for decision-making follows. Information kept in a book of some kind is only available and easy to access if you have the book to hand.

A good example of availability is a telephone directory, as every home has one for its local area. It is probably the first place you look for a local number. For business premises, say for a hotel in London, you would probably use the Internet. If the customer visited a different branch a telephone call would be needed to check details.

Accuracy Information needs to be accurate enough for the use to which it is going to be put. The degree of accuracy depends upon the circumstances.

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At operational levels information may need to be accurate to the nearest penny — on a supermarket till receipt, for example. As an example, if government statistics based on the last census wrongly show an increase in births within an area, plans may be made to build schools and construction companies may invest in new housing developments.

In these cases any investment may not be recouped. Reliability or objectivity Reliability deals with the truth of information or the objectivity with which it is presented. You can only really use information confidently if you are sure of its reliability and objectivity.

When researching for an essay in any subject, we might make straight for the library to find a suitable book. We are reasonably confident that the information found in a book, especially one that the library has purchased, is reliable and in the case of factual information objective.

The publisher should have employed an editor and an expert in the field to edit the book and question any factual doubts they may have. In short, much time and energy goes into publishing a book and for that reason we can be reasonably confident that the information is reliable and objective.

Unless you know who the author is, or a reputable university or government agency backs up the research, then you cannot be sure that the information is reliable. Some Internet websites are like vanity publishing, where anyone can write a book and pay certain vanity publishers to publish it.

It must be suitable. What is relevant for one manager may not be relevant for another. The user will become frustrated if information contains data irrelevant to the task in hand.

This is not relevant for the manager who wants to know opinions on relative prices of the product and its rivals. The information gained would not be relevant to the purpose.

Completeness Information should contain all the details required by the user. Otherwise, it may not be useful as the basis for making a decision. For example, if an organisation is supplied with information regarding the costs of supplying a fleet of cars for the sales force, and servicing and maintenance costs are not included, then a costing based on the information supplied will be considerably underestimated.

Ideally all the information needed for a particular decision should be available. However, this rarely happens; good information is often incomplete.

To meet all the needs of the situation, you often have to collect it from a variety of sources. There should be no extraneous information.

For example, it is very common practice to summarise financial data and present this information, both in the form of figures and by using a chart or graph.

We would say that the graph is more concise than the tables of figures as there is little or no extraneous information in the graph or chart.

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Clearly there is a trade-off between level of detail and conciseness. Presentation The presentation of information is important to the user. Information can be more easily assimilated if it is aesthetically pleasing.Start studying IT: Chapter 1 Characteristics of Valuable Information.

Learn vocabulary, terms, and more with flashcards, games, and other study tools. There characteristics of good information include being: valid, reliable, timely, fit-for-purpose, accessible, cost-effective, accurate, relevant, having the right level of detail, from a source that the user has confidence in, and is understandable by the user.

The characteristics of good information include accuracy, reliability and accessibility to name a few. Below we’ll discuss more characteristics of good information in detail.

The characteristics of good information are as follows: valid, reliable, timely, fit-for-purpose, accessible, cost-effective, sufficiently accurate, relevant, having the right level of detail, from a source in which the user has confidence, understandable by the user. These are explained in more detail below.

Characteristics of good quality information can be defined as an acronym ACCURATE. These characteristics are interrelated; focus on one automatically leads to focus on other.

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Information should be. 5 The characteristics of ‘good’ information. 6 Accounting and the objectives of the firm. Variety of business objectives. Conflicting objectives. Conclusion.

Characteristics of good information

Keep on learning. Introduction to the context of accounting. 5 The characteristics of ‘good’ information.

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