ISOM Lecture 5 - T r ansactional information encompasses...

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10-7-10 Transactional information – encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks –examples include withdrawing cash from an ATM, making an airline reservation, purchasing stocks Analytical information – encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks –examples include trends, sales, product statistics, and future growth projections –analytical information is based on transactional information •Business decisions are only as good as the quality of the information used to make the decisions • The five characteristics of high-quality information include –Accuracy –Completeness –Consistency –Uniqueness –Timeliness • The examples of sources of low-quality information include: 1.Call center operators enter abbreviated or erroneous information by accident or to save time 2.Information from different systems that have different information entry standards and formats 3.Third party and external information contains inconsistencies, inaccuracies, and errors 4.Online customers intentionally enter inaccurate information to protect their privacy •Potential business effects resulting from low-quality information
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