Skip to main content

ATTRIBUTES OF THE INFORMATION

  1. THE ACCURACY IN REPRESENTATION - The test of accuracy is how closely it represents a situation or event. The degree of precision will decide the accuracy in representation.
  2. THE FORM OF PRESENTATION - Forms are qualitative or quantitative, numeric or graphic, printed or displayed, summarized or detailed. Appropriate form is important.
  3. THE FREQUENCY OF REPORTING - How often the information is needed? How often it needs to be updated?
  4. THE SCOPE OF REPORTING - The coverage of information in terms of entities, area and range, and the interest shown by the recipient or the decision maker.
  5. THE SCOPE OF COLLECTION - Internal from organization or external to organization.
  6. THE TIME SCALE - It may relate to the past, the current and the future and can cover the entire time span.
  7. THE RELEVANCE TO DECISION MAKING - The information has relevance to a situation and also to a decision making. The irrelevant information is a data.
  8. COMPLETE FOR THE DECISION CONSIDERATIONS - The information which covers all the aspects of the decision situation by way of scope , transactions and period is complete.
  9. THE TIMELINESS OF REPORTING - The receipt of information on time or when needed is highly useful. The information arriving late , loses its utility as it is outdated.

Labels:

Comments

Post a Comment

Popular posts from this blog

Simulation Practice Problems

1. There is only one telephone in a public booth of a metro station. Following table indicates the distribution of arrival time and duration of calls: Time Between arrivals (minutes) 4 5 6 Probability 0.1 .6 0.3 Call Duration (minutes) 3 4 5 6 Probability 0.14 0.6 0.12 0.14 Simulate for 100/500/1000 times. Conduct 3 such trials. It is proposed to add another telephone to the booth. Justify the proposal based on the waiting time of caller.Generate graphs to support your answer. 2. A baker needs to find out the cookies he need to bake each day. The probability distribution for the cookies customers is as follows: Number of customers/day 7 9 11 14 Probability 0.35 0.30 0.15 0.20 C...
Post a Comment
Read more

System Analysis and Design (SAD)

Introduction to System Analysis and Design (SAD) System are created to solve Problems. One can think of the systemsapproch as an organised way of dealing with a problem. In this dynamic world , the subject system analysis and design, mainly deals with the software development activities. This post include:- What is System? What are diffrent Phases of System Development Life Cycle? What are the component of system analysis? What are the component of system designing? What is System? A collection of components that work together to realize some objectives forms a system. Basically there are three major components in every system, namely input, processing and output. In a system the different components are connected with each other and they are interdependent. For example, human body represents a complete natural system. We are also bound by many national systems such as political system, economic system, educational system and so forth. The objective of the system demands tha...
37 comments
Read more
Advantages and Disadvantages of EIS Advantages of EIS Easy for upper-level executives to use, extensive computer experience is not required in operations Provides timely delivery of company summary information Information that is provided is better understood Filters data for management Improves to tracking information Offers efficiency to decision makers Disadvantages of EIS System dependent Limited functionality, by design Information overload for some managers Benefits hard to quantify High implementation costs System may become slow, large, and hard to manage Need good internal processes for data management May lead to less reliable and less secure data
1 comment
Read more