1. QUALITIES OF INFORMATION
Accuracy. How accurate is the information or
how much error does it contain?
Reliability. How dependable is the information?.
It is related to how the information was
obtained, e.g. the quality of
the source of the information.
Completeness. Does it contain all the important
facts?

2. CONT...
• Verifiability. Can the correctness of the
information be checked?
• Relevance. How pertinent is the information
to the question or decision?
• Timeliness. How up-to-date is the
information?
• Simplicity. How complex or detailed is the
information?

3. CONT...
• Cost. How much did it cost to produce the
information?

4. CONCLUSION
• Data-Information-Knowledge-Wisdom
• Knowledge consists of knowing which action
alternatives are available and what information is
required before one can decide on a specific course of
action.
• knowledge often includes rules to validate new
information, algorithms by which to obtain or derive
• information, frameworks that indicate what types of
information are relevant in which context, information
about the information and its structure (meta
information) etc.

5. Expertise
• expertise, consists of more detailed and validated
(proven) knowledge in a selected area e.g. a car
mechanic is supposed to have a lot of specific
• knowledge about the functioning of a motor car
and its engine.
• Expertise has the connotationof being specific to
a more restricted (often quite technical) domain,
but also deeper or more detailed than
knowledge.

6. Wisdom
• wisdom is the combination of knowledge with
experience,
• The issue of representing higher levels of
information e.gwisdom is also still very much
the subject of current research.
• No computer has (yet?) been able to generate
original wisdom. But then, so have few
humans!

7. Uses of Information systems
• In finance and accounting, information
systems are used to :
• forecast revenues,
• plan business activities,
• manage financial resources
• audit the performance of the organisation.

8. Cont...
• In sales and marketing, information systems
are used to :
• determine the potential market for new
products
• plan advertising campaigns and predict sales
revenues
• determine product prices and manage
customer relations.

9. Other Benefits
1. Enhanced global competitiveness
2. Capture market opportunities
3. Support corporate strategy
4. Enhance worker productivity
5. Improve quality of goods and services
6. Shorter product life cycle
7. Easier business growth
8. Automation of decisions

10. Cont...
• Reduce costs
• Increase revenue
• Increased accuracy