K201 lecture

K201 lecture - Chapter 6 Organizational information 1....

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Chapter 6 Organizational information 1. Information granularity- refers to the extent of detail within the information (fine and detailed or coarse and abstract) - Levels - Formats - Granularities The value of transactional and analytical information 1. 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 2. Analytical information- encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks The values of Timely Information 3. Timeliness is an aspect of information that depends on the situation - Real-time information- immediate, up-to-date information - Real-time system- provides real-time information in response to query requests 4. Real-time systems help organizations make faster and more effective decisions The value of quality information 5. Business decisions are only as good as the quality of the information used to make the decisions 6. The five characteristics of high quality include: -Accuracy -Completeness -Consistency -Uniqueness -Timeliness Understanding the costs of poor information 1. The four primary sources of low quality information include: -Online customers intentionally enter inaccurate information to protect their privacy -Information from different systems have different entry standards and formats -Call center operators enter abbreviated or erroneous information by accident or to save time -Third party and external information contains inconsistencies, inaccuracies, and errors
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2. Potential business effects resulting from low quality information include: -Inability to accurately track customers -Difficulty identifying valuable customers -Inability to identify selling opportunities -Marketing to nonexistent customers -Difficulty tracking revenue due to inaccurate invoices -Inability to build strong customer relationships Understanding the benefits of good information 3. High quality information can significantly improve the chances of making a good decision 4. Good decisions can directly impact an organization’s bottom line Chapter 7 Relational Database Fundamentals 1. Information is stored in databases -Database- Maintains information about various types of objects (inventory), events (transactions0, people (employees), and places (warehouses) 2. Database models include: -Hierarchical database model- information is organized into a tree-like structure (using parent/child relationships) in such a way that it cannot have too many relationships -Network database model- a flexible way of representing objects and their relationships -Relational database model- stores information in the form of logically related two-dimensional tables Entities, entity classes, and attributes 3. Entity- a person, place, thing, transaction, or event about which information is stored - The rows in each table contain the entities 4. Entity Class (table)- a collection of similar entities
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K201 lecture - Chapter 6 Organizational information 1....

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