Information is an important part of an organization. It is through this a manager makes business decisions. Even if the information is transmitted efficiently and interpreted correctly, it may not be used effectively. The quality of information is determined by how it motivates manager’s action and contributes to effective decision making.
The quality of information is high, if it creates mangerial impact leading to attention,decision and action. The quality of information can be measured on the four dimensions, viz utility,satisfaction,error,bias.
1)The utility Dimension:-
The utility dimension has four components namely the form,the time,the acess and the pocession. If the information is presented in the form the manager requires, then its utility increases. If it is available when needed, the utility is optimized. If the information is easily and quickly accessible through the online acess system., its utility gets an additional boost. Lastly if the information is possesed by the manager who needs it, then its utiliy is the highest.
2)Satisfaction Dimension:-
Another key for measuring the quality of information is by satisfaction. The degree of satisfaction would determine the quality of the information. If the organiztion has a high degree of satsfaction, then one can be safe in saying that information systems are designed properly to meet the information needs of the managers at all the levels.
3)Error Dimension:-
An error is third dimension to meaure the quality of information. The error creep in on account of various reasons, namely:
- An incorrect data measurement
- An incorrect collection method.
- Failure to follow the prescribed data processing procedure.
- Loss of data or incomplete data.
- Poor application of data validation and control systems.
- A deliberate falsification.
The data should be avoided of errors, care should be taken that the information is possesed after ensuring the correctness of the data in tersms of time and the number of doucment, and the transactions in the period.
4. Bias Dimension:-
If the information is processed out of a biased data it will have a bias. The procedure of communicating the information should be such that the system is able to detect the degree and the nature of the bias and correct the information accordingly.
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