Monday, 19 June 2017

LO1 : Good Information

Explain each characteristic of good information.
Give ONE (1) example for each characteristic.

The characteristic of a good information are:

  • Valid
  • Reliable
  • Timely
  • Fit-for purpose
  • Accessible
  • Cost-effective
  • Sufficiently accurate
  • Relevant
  • Right level of detail
  • From a source in which the user has confidence
  • Understandable by the user
Definition

Valid
  • Information that is correct and can be used for the purpose that is needed
Reliable
  • Internal information which is valid and trusted source
Timely
  • Information from correct time period
Fit-for purpose
  • Information that is relevant to what you need it for
Accessible
  • Information that is store in a way that it can be easily accessed at any time
Cost-effective
  • Information that is worth investing the times money to get to help make business decision
Sufficiently accurate
  • Accurate information help business make the correct decision
Relevant
  • Information that is directly related to business need
Right level of detail
  • Information that have the correct detail
From a source in which the user has confidence
  • The source can be reliable and trusted 
Understandable by the user
  • Information that is used for business purpose need to understandable by end user

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