FIT9123 Lecture 1: FIT9123 Lecture : : FIT9123 Lecture : FIT9123 Lecture : FIT9123 Lec
19 Nov 2018
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Document Summary
Huge investments in is, yet timely and relevant information is not produced most of the times. Business managers making decisions based on power and politics instead of data. 6 characteristics of information (picolli, 2008), information has : Sunk costs (money lost because of redesigning a software) Technical - accuracy and efficiency of the bis. Semantic - success of information in conveying the intended meaning. Effectiveness - effect of information on the receiver. Organizational hierarchy (is it centralized or decentralized?) Series of steps necessary to complete a business activity. Consists of stakeholders such as end-users, managers etc. It says that these four components are interdependent. Changes made in one component affects other components. Transactional - cost savings because of reduction in work force and travel costs. Informational - improve accuracy, timeliness and easy access to information. Strategic - improves customer relations, provides new products and gives an edge over competitors. Information quality which measures completeness, accuracy, relevance and.
