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Quality of information, and information management GapFill
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In order to make the correct decisions based on information, the information must be (true), up to date and unbiased – we must have a full, overall picture. It’s difficult to satisfy all of these criteria without spending huge amounts of (and, therefore, money) checking things, but we should do the best we can.
For information to be high quality, the following conditions must be met:
– whether we can trust the information to be correct.
– whether we have the complete story, with information about all sides.
– whether we are confident that the information is correct.
– can we contrast and compare the data to another, similar, example?
Having quality information is important to in order for them to make informed decisions about a company, such as whether to invest. Those managing and making important decisions at the top of the need to have large amounts of up-to-date and accurate information. Knowing this information allows the business to stay , explore new sales opportunities and develop new growth strategies. If the information used to make important decisions is inaccurate, biased or incomplete, then those business decisions will be wrong and the business could lose , customers and staff.