MGT 300 CHAPTER 6 : VALUING ORGANIZATIONAL INFORMATION

LEARNING OUTCOMES :

  1. Describe the broad levels, formats, and granularities of information.
  2. Differentiate between transactional and analytical information.
  3. List, describe of each the five characteristics of high quality information
  4. Impact of low quality information on an organization and the benefits.
  • ORGANIZATIONAL INFORMATION
Image result for levels formats and granularities of information
LEVELS, FORMATS, AND GRANULARITIES OF ORGANIZATIONAL INFORMATION.



Image result for TRANSACTIONAL INFORMATION VS ANALYTICAL INFORMATION

TRANSACTIONAL INFORMATION VERSES ANALYTICAL INFORMATION
  • THE VALUE OF QUALITY INFORMATION
-CHARACTERISTIC OF HIGH QUALITY INFORMATION
  1. ACCURACY : Measurements is their quality og being true or correct, event in small details.
  2. COMPLETENESS : The information must have being complete. For example is the address complete including street, city and state.
  3. CONSISTENCY : is aggregate or summary information in agreement with detailed information.
  4. UNIQUENESS : is each information must have their own uniqueness to ensure the customer easy to remember this information.
  5. TIMELINES : The information that is current at the time of publication, consider publication, creation and revision dates.


  • EXAMPLES OF LOW QUALITY INFORMATION
Related image

  • UNDERSTANDING THE COSTS OF POOR INFORMATION 
            - The four primary sources of low quality information include :
  1. Online customers intentionally enter inaccurate information to protect their privacy.
  2. Information from different systems have different entry standards and formats
  3. Call center operators enter abbreviated or erroneous information by accident or to save time
  4. Third party and external information contains inconsistencies, inaccuracies and errors.
         
        - Potential business effects resulting from low quality information include :
  1. Inability to accurately track customers
  2. Difficulty identifying valuable customers
  3. Inability to identify selling opportunities
  4. Marketing to nonexistent customers
  5. Difficulty tracking revenue due to inaccurate invoices
  6. Inability to build strong customer relationship. 
                                                                        Image result for thank you emoticon   

Comments

Post a Comment

Popular posts from this blog

MGT 300 CHAPTER 11 : CUSTOMER RELATIONSHIP MANAGEMENT

Image
LEARNING OUTCOMES : Compare operational and analytical customer relationship management Identify the primary forces driving the explosive growth of the customers relationship management Define the relationship between decision making and analytical customers relationship management Summarize the best practice for implementing a successful customer relationship management system CUSTOMER RELATIONSHIP MANAGEMENT (SCM) -CRM enables a organization to :  *provide better customer service  *make call centers more efficient  *cross sell products more effectively  *simply marketing and sales processes  *discover new customers RECENCY, FREQUENCY, and, MONETARY VALUE -Organization can find their most valuable customers through 'RFM' stand for Recency, Frequency, and Monetary value.    *How recently a customers purchased items (Recency)    *How frequently a customers purchased items (Frequency)    *How much a customer spends on each purchase (Monetary)
Read more

MGT 300 CHAPTER 10 : EXTENDING THE ORGANIZATION SUPPLY CHAIN MANAGEMENT

Image
LEARNING OUTCOMES : List and describe the components of a typical supply chain Define the relationship between decision making and supply chains management  Describe the four changes resulting from advance in IT that are driving supply chains Summarize the best practices for implementing a successful supply chain management system BASICS OF SUPPLY CHAIN -Supply chain has three main links : *Materials flow from suppliers and their upstream suppliers at all levels *Transformation of materials into semi finished and finished products through the organization's own production process. *Distribution of products to customers and their downstream customers at all levels -Organizations must embrace technologies that can effectively manage supply chains INFORMATION TECHNOLOGY'S ROLE IN THE SUPPLY CHAIN VISIBILITY  -Supply chain visibility is the ability to view all areas up and down the supply chain. Changing supply chains requires a comprehens
Read more