Quality Information and its Importance and Value

Many job roles need information to enable them to make decisions and decide on what future actions can be. The information is need and can be used to monitor progress. For example, a store manager might use the information to check monthly sales statistics to check how they are meeting their annual targets. The manager might use these statistics to monitor its progress and sales of a newly opened store.

When new products are released, the information that is obtained by market research projects and sales can give progress in helping to monitor the progress and the products popularity to decide whether the product will or will not be a success. The market research might stop people on the streets or in shops or even send simple questioners to people’s homes. The responses from the questioners can determine if the product needs to be discontinued, advertised more since responses will ask people whether they know about or used the product.

Another use of information can be used to target resources such as money or personnel in a section of a business that could help and provide the product with a competitive advantage to other companies.

By having information it enables companies to gain an advantages over its competitors. By having information, it can allow businesses to find gaps in a particular market allowing the market to be filled for that particular niche. For example, the market research may suggest that many people like to buy shampoo in large bottles to place in dispensers rather than smaller bottles, which are more compact and able to carry around easier. The company would look into this information and be the first to produce dispensers allowing them to gain an advantage in the market and increase their sales.

Valuable information allows a manager or companies to spot trends on the market. This can be an advantage. They spot trends by analysing sales figures over many years.

It is said that information is of good quality it is up to date, accurate and complete.


Information has dependencies on how accurate it is depending on what it is used for. A bank needs to give the account balance accurate to the nearest penny or account holders may face inappropriate decisions with overspending and will be fully justified when complaining to the bank. Also exam results need to be accurate, normally to the nearest 1% is sufficiently accurately.

Accuracy of information is very important. For example, is a stock manager has inaccurate values on stocks, it could lead to the ordering of wrong amounts which can lead to financial problems for a store. Another example is the gas or electric readings. If there is inaccuracy in the reading, the gas company can bill the customers too much.

It is known that inaccurate data can have life-threatening consequences. These can be a fault on a plane with the sensors that are providing the captains inaccurate readings of height or fuel levels. This can lead to a crash due to inaccurate readings.

Up To Date

Decisions can be wrong if information is not up to date. Most reports require a date so that it is known how old the report is. In some circumstances a time will also be needed. The wrong decision might be made if there was no date as different reports that might get mixed up in the decision-making process being unaware that the information is not up to date.

Keeping information up to date

Useful information must be up to date to remain useful. But keeping data up to date will affect the cost of producing it. The costs come from: - Collection of up to date data. - The manual importing of the data into the system. - Deletion of the data that is not up to date (Out of date data).

It is advised that organisations have computer systems implemented so that it is ensured that the changed in data can be collected easily. It can be time consuming and very complicated since changes can include altering marital status, a change in surname or a change in the address and phone number. For example, when a patient visits a clinic or hospital the receptionist normally does a basic data check to ensure that data is up to date on the database. A downfall to keeping this data up to date is that sophisticated hardware might be needed. This can cost a fortune but an advantage is that data can be processed faster. An organisation normally catches the changes in addresses, contact details or even payment details by providing a form with invoices. The form gets filled in by the customer and then is manually entered into the computer by the organisation receptionists. If there is an update in payment information, it will need to be declared to the organisation and changed or the organisation will not be able to process payments. It is mostly relevant by producing the form while producing an invoice, as it is not cost effective is printouts are given weekly when none or little data needs to be updated.

Another use of up to date data includes mail marketing. Names and addresses need to be up to date so that mail can be addressed to the correct people. If the data is not updated, it can be cost ineffective resulting in loss of profits for maintaining the out dated details. When a person moves house, a system needs to be in place so that the details can be deleted, added or even edited so that the date can be constantly up to date. Examples are details that needs to be deleted when no longer current and new names to be added.

The data protection act states that all information must be up to date. A school must keep all of the information about its students up to date just in case an emergency arises where the parents need to be called.


The information gathered needs to be complete. Complete information allows decision makers to decide more accurately. If there was a incomplete information, there can be decisions made that can be devastating. For example if a store manager has market research results but has a product which is targeted for men but the information given has the amount of people that use it but is not complete since it doesn’t contain the amount of men that have got or tried the product. With that information, a fair decision cannot be made since the information is incomplete and slightly irrelevant with the study. Another example can be a letter. If a letter has the first line of address bit no postcode or zip code, then there is a high amount of addresses that the letter can be posted to and is not specific for one address. Once again this is incomplete data.

Ideally it is a requirement to have all the relevant and complete information needed to make a final decision. In reality information is rarely complete but there is enough information provided for the situation to make a fair decision for the product or item for a business.

Business | Systems

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