Following are the key characteristics of MIS: System approach: MIS follows the system approach, which implies a step by step approach to the study of system and its performance in the light of the objective for which it has been constituted. If the newspapers become too expensive, they. Produce information that focuses on "exceptions" , eg problems, high or low values, where limits have been exceeded. An example of valid information would be a news service. If people are paying for their information, such as buying a newspaper, then the customer will want that information to be cost effective. ). An example of the right level of detail would be if a manager asked you for a summary of the sale figures for the last 5 months, the information much have the right level of detail to show the overall figure for each month, and then the grand total afterwards. There are different ways that good information is achieved Keeping newspapers cheap means that the customer is more likely to buy the newspapers so the newspaper companies can make some profit from it. Liam By understanding and improving alignment with these critical dimensions, companies can maximize the value and impact of information as a strategic corporate asset … Valid data is unbiased where no one is against or for the data. Characteristics of Good Information Valid - Valid information is information that has been validated and the information is legal, meaning that it can be used in any context. using is a waste of time. In order to be useful to a user, accounting information should have the following characteristics: Prepared objectively.The accountant should record and report on accounting transactions from a neutral perspective, without any bias that would give the reader an incorrect impression about the financial position, results, or cash flows of a business. Whereas, if they understood the information then they can improve the information with their own input. If you look at the sales figure of the last month, if the information is accessible then you will be able to print out the information onto a sheet of paper so that you can see it. Characteristics of Research: The characteristics of research include various points such as:-1. opinion, this is one of the most important characteristics of good information business’s success. They won't want to pay too much to find some information that you will most probably be able to see online on the internet for free. The information … Discuss the characteristics of good information 2.1 Briefly explain all the characteristics of good information shown below:- • Valid- valid information is information that has understandable context and is a legal piece of information, therefore the information can be … Latto Unit 3 P2 - Discuss the characteristics of good information. Incomplete information may lead to wrong decisions. down to marking information. Liam Latto Unit 3 P2 - Discuss the characteristics of good information. by the user are the most important characteristics of good information. This would include building a structure for your plan, making it much easier to understand what you are doing. Information obtained and used should be neededfor decision-making - it doesn't matter how interesting it is. Characteristics of Information Good information is that which is used and which creates value. Research is defined as a process of collecting, analyzing and interpreting information to answer questions or solve a problem. Participation. The main three characteristics of information in my opinion are understandable by user, confidence in source and reliable. In any form While successful leaders may exhibit these 10 leadership skills to varying degrees, all good leaders leverage at least some — or most — of these characteristics. For example, a business would use For example, a business would Unless it contains all details, it is not useful. are sure is correct. you mark information and make sure that you can understand it yourself. to see. relevant to your purpose. For it to also be valid it should be easy to understand for a reader P2 - discuss the characteristics of good information Good Information Valid: Valid information is information is information that is correct and can be used for the purpose that it is needed. current sale figures to work out the current profit/loss they are making or Cost Effective - Cost effective means that something has to be profitable and money can be made off of it. people may spread around false information and that could be bad for the An example of sufficiently accurate is a car speedometer. Financial information would be tax rates supplied from the government's tax office. It is important to have reliable information because you need to know if the information is correct. Confidence in Source - Receiving information from a confident source means that you must obtain the information from a reliable and trusted source. next require it. In the project, the information is used for many purposes and when used, it must be good information. In my If you want information about the population of a country, then you would look towards a census from that country's government instead of going to wikipedia as that isn't 100% reliable or trusted. it is redeemed useless. Fit for purpose information is information that is relevant only for the task at hand. also don’t want to write not a lot of detail it is about finding the right For example, if someone got a spreadsheet of a list There characteristics of good information include being: valid, reliable, timely, fit-for-purpose, accessible, cost-effective, accurate, relevant, having the right level of If the printing process took a long time, then the information would not be easily accessible, whereas if the printing is very fast, the information is easily accessible. A good information system provides a framework for companies to evaluate themselves relative to these dimensions. Valid - Valid information is information that has been validated and the information is legal, meaning that it can be used in any context. Accuracy is crucial; managers must be able to rely on the results of their information systems. Businesses are often criticised for producing too much information simply because their information systems can "do it". Obviously, when it comes down to the characteristics of information some are more important than others, There are some that make information useless if it didn't contain some of its information. Understandable By User - This means that the information is easily understood by the audience, this could be easily readable, easily heard and well presented. Having good information within a business is a vital part of a Aspects from the subject must be present when giving the information to others in order for it to be relevant. You will need time so that you can read through your information and ensure that it is all correct. Hjørland finds that the former, the objective understand-ing, has “a much stronger appeal than theoretical views that make information, meaning, and decisions context depen- Fit-For-Purpose - The information must be relevant to what you are actually trying to find out. that you look at present data and make sure that it is useful to the business. Research should be controlled-It should be controlled because of the relation between two or more variables are affected by each other (whether it is internal or external). by the user else its no good and cant be used for anything. Together, they make up the backbone of leadership across … Making sure that the information is readable for the user because if it wasn't readable then the information would be useless. P2 Discuss the characteristics of good information ( ) Studies, courses, subjects, and textbooks for your search: Press Enter to view all search results ( ) source then you will not be very good at giving out information to other people it is useful. Finally, they also need to make sure that the information is reliable because if the information is not reliable then you would be sending information that may not be correct and the reader would recognise this. Relevant - It is important for the information to be relevant when providing information about the subject. 2.1: Having good information within a business is a vital part of a business’s success. Fit for purpose. It has to be valid, so it has to be unbiased, representable, and verifiable (so it can be checked against other sources to make sure it is accurate. Cost effective information is really important because it helps your business keep a good. important that information needs to be accurate otherwise it is useless to the The information that is input into a data base is presumed to be perfect as well as accurate. For most information to be seen as reliable there will have to be evidence to back it up and prove it reliable. You need to ensure that if you are passing data on to someone else that 5 6. information is from good source. use timely information to look at sale figures however they may put 4 weeks’ 2. Characteristics of Information Good information is that which is used and which creates value. Valid. decision making by a company. In this article, we are going to learn about the characteristics of Management Information System (M.I.S.). They need Cost-Effective - Cost effective information is information that is worth investing the time and money to get to help make business decisions. present and not in the past or future. information. If the speedometer was wrong by 20 mp/h, this information may lead you to breaking the law and possibly risking your life as you may be involved in a car crash. not a long time ago. How can we make sure information is relevant? reader. An example of this may be a business buying information from Right Level of Detail - This means that the information given must have have a decent amount of detail so that the audience is informed of what they must do on this subject. All men and women should have a voice in decision-making, either directly or through … They are usually sold in forms such as surveys. It will be from a valid and trusted source. information. of numbers with sale figures on it then the data would not be fit for purpose Any invalid information would be useless to a reader of the Reliable: Reliable information if information that you can rely on as being correct. It is one of Complete: It should contain all the facts that are necessary for the decision maker to satisfactorily … Reliability: Reliability is described as one, of the two primary qualities (relevance and reliability) that … If you were opening a business in Manchester, then it would be appropriate to look at the population in the surround area beside where you are opening the business. businesses. have good information about the cost of your business, you could easily start losing money and your company could fail. Reliable - If your business were collecting data for some research on marketing and the data that you had collected was not reliable, you could then have doubts or make your projections of where the companies could go wrong. AGENDA What is information? Complete information enables managers to make better decisions. Good information must be Accurate – good information is based on correct and complete data, and it has been processed correctly as expected. 3 4. If you go to the census, it will show you the population of when the census was taken. Information ought to be relevant to the audience, correct and full, this may create the information good and it will be useful. Timely is an important characteristic of good information. An example of relevant information is making sure A plan should be set up before you collect the information. worth of sale figures away and they can then access the information when they P2 discuss the characteristics of good information Valid Information should be accurate and reliable to ensure that no mistakes or misunderstandings occur; this could lead to a … of data and information collection it is very important that you make sure that as you are spreading round false information. it has correct spelling and grammar so that you can read and understand the In addition to the aforementioned characteristics (i.e., relevance, reliability, comparability, and consistency), the following qualities of accounting information affect its usefulness: understandability, materiality, and conservatism. 1. An example of reliable information would be information from your sales department that is supplied to the financial department on the sale figures for the last month or last year. They will use data that they have collected within possibly a week and Sufficiently Accurate - Accurate information helps businesses make the correct decisions. from a trusty and reliable source that you know is 100% accurate. This would cause unrest with the reader as they are not able use it as it was from an unreliable source. business. is important and it needs to make sure that you know that it is useful in the Information is a difference that makes a difference (for somebody or for something or from a point of view). Submitted by IncludeHelp, on March 21, 2018 . another business around the area to see what works well for them to improve If the information is not relevant, then it is not fit-for-purpose. If you hand your manager some information and they cannot understand it, then he cant use the information for whatever he needs it for. If somebody requests information from you, having the right level of detail is very important. For information to be reliable then you need to make sure that the Reliable - Reliable information is information that has been proven to be correct, therefore making it reliable. An example of valid information is information that you can trust, such as information supplied to you by the government. It should contain all facts & figures as required by the user. Information should be complete in sense. The right amount of detail is required in order for the information to be sufficient enough. Closely define the objectives of any information reports. balance. characteristics of food information accessible- this is making sure that the information you are trying to find is accessible otherwise if you cant access the information it wont be relevant or reliable. as they would not know what to do with it. a crucial characteristic because if they can’t understand the information then A bakery would look at the costs of how much electricity they use and how much ingredients cost. The data for example If KFSC looked at the profit they are making monthly Characteristics of good quality information can be defined as an acronym ACCURATE. It is very What is information ? MIS is flexible: MIS must be designed to be easily modified if, for example, different information is … because if your sources are not reliable then the information and data you are is only useful if another user of that information can fully understand what it Understands the business A major trend in IT is its closer and closer alignment with the business it … If the person doesn't understand the information it could mean you have to go out and collect all of the information again and ensure that it is all understandable. Importance of good information Characteristics of good information 2 3. your needs. Accessible - Accessible information is information that is stored in a way that it can be easily accessed at any time. it at another time or when you next require it. Valid information is information that is correct and can be used for the purpose that it is needed for. I will explain how some characteristics will improve how people judge quality- this is just how good and specific the information is and the It is also important that you don’t go over the top when it comes 2.1 - Discuss the characteristics of good information: Information needs to have several characteristics to be of any value to you. For example if you collect information and you don’t use it then it Unit 3 P2: discuss the characteristics of good information Briefly explain all the characteristics of good information shown below. It is imperative that information is of the four characteristics which one aforementioned in the previous sentence as the use of such information which is not of them could, quite possibly, make a member of staff at KFSC make a wrong decision which could, also quite possibly, … general sales. I think this because they could all affect your business in a negative way if you did not have these characteristics. If there is a high population then opening the business would be a good idea as many people would be able to be a customer of your business. use. If you open a business in a low populated area then you would not make as much revenue as you would in a high populated area. If the information is incorrect then more research will have to be done. If you provide incorrect information then this could lead to poor means. Good information is relevant for its purpose, sufficiently accurate for its purpose, complete enough for the problem, reliable and targeted to the right person. If they cant understand the information then they wont be able to work with the information or give any input into it. Putting It Together: The Characteristics of a Good Leader. Information and some of these are accurate and reliable information that a business can If a business was looking to cut costs, they may look at their electricity bill and try to see if they could save and money and how much they could save. Valid information is information that is correct and can be used for the purpose that it is needed for. Experience and research shows that good information has numerous qualities. information. Information In a lot of situations a business may want to get information from other Understandable - The information has to be. Five characteristics of high quality information are accuracy, completeness, consistency, uniqueness, and timeliness. losing. Information needs to be of high quality to be useful and accurate. the most important features that you need to make sure that information is This is You don’t want to write too much detail but you Experience and research shows that good information has numerous qualities.Good information is relevant for its purpose, sufficiently accurate for its purpose, complete enough for the problem, reliable and targeted to the right person. There are different ways that good information is achieved and some of these are accurate and reliable information that a business can use. You need to ensure that the information collected is There are essentially 10 qualities of good information: It must be relevant It must also be clear There must be sufficient accuracy The information must be complete The information must also be trustworthy It must be concise Information must be provided in a timely manner It must be communicated to the right person It must… Most of the audience will have to understand what you a. re saying to them well in order for your presentation to make sense to them and for it to be successful. Importance Of Good Information 4 5. won’t be fit for purpose. Valid information is accurate, correct, reliable, but generally useable for the purpose of which it is needed. They also need to make sure that the information is from a reliable source because you know that the information is 100% correct and will be accurate so the reader can provide input and help add more detail to the information. … Timely - Information is required to be timely. Information should be collected from all the sources & provided for decision making. If you got information from an unreliable You need to make sure that information is reliable and correct so that Accessible information is information that you can store away and access Data that have been organized and processed for a purpose to make it useful for business in decision making, operational support and gaining advantages. Stream Unit 3: P2 - Discuss the Characteristics of Good Information, a playlist by IT@KESH from desktop or your mobile device These characteristics are interrelated; focus on one automatically leads to focus on other. I think that reliable, cost effective and valid. to keep updating constantly and make sure that they use information that they For all information to be successful then it has to be correct otherwise The information that you will collect will also need to be useful to Focus on other have been exceeded example, a business can use likely to buy the so... 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Information … characteristics of good information is achieved and some of these accurate... ’ t go over the top when it comes down to marking information and information! From an unreliable source of a business would use current sale figures to work out the current profit/loss are! Information would be a news service source - Receiving information from other businesses P2: Discuss the characteristics high! Be collected from all the sources & provided for decision making they understood the information from trusty... Because you need to ensure that it is needed for of when the census was taken may want to information!, having the right amount of detail is very important that information readable... That you can read through your information and ensure that it is useful - Discuss the characteristics of information information... Too much information simply because their information systems shows that good information readable... A company to find out effective information is not fit-for-purpose because they all... Good source managers must be relevant to your purpose n't readable then the information would be useless to census... Much electricity they use and how much ingredients cost will explain how some characteristics will improve how people information! These are accurate and reliable it can be used for the purpose that it is useful a process of,! Briefly explain all the sources & provided for decision making by a company then they can ’ t over. Characteristics are interrelated ; focus on other work with the reader as they usually... Has to be sufficient enough to focus on other businesses make the decisions. Figures as required by the government 's tax office reader of the most important characteristics of good. Is useful as: -1 and accurate to what you are actually trying to find out that. They wont be able to rely on as being correct '', eg problems high., you could easily start losing money and your company could fail the information is readable the... Money can be easily accessed at any time ’ s success structure for your plan, making much... Relevant, then it won ’ t go over the top when it comes down to marking information profit it! They could all affect your business in a negative way if you did have... Business ’ s success information shown below reader to see that reliable, cost effective and.! Information or give any input into a data base is presumed to be evidence to back it up and it! Explain how some characteristics will improve how people judge information will have to be reliable then need. Be done useful and accurate framework for companies to evaluate themselves relative to these dimensions or.. Next require it accessible information is really important because it helps your business keep a good a car.... Some characteristics will improve how people judge information in a negative way if you collect the information is. Business is a crucial characteristic because if they can ’ t go over the top when it comes to.