ISOM Quiz II Chpt 6
Terms
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- 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
- Transactional Information
- encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks
- Analytical Information
- Business _______are only as good as the quality of the _______used to make the decisions
- decisions; information
- The five characteristics of high-quality information include
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Accuracy
Completeness
Consistency
Uniqueness
Timeliness - The examples of sources of low-quality information include:
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Call center operators enter abbreviated or erroneous information by accident or to save time
Information from different systems that have different information entry standards and formats
Third party and external information contains inconsistencies, inaccuracies, and errors
Online customers intentionally enter inaccurate information to protect their privacy - Potential business effects resulting from low-quality information:
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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 – which increases buyer power - You never want to find yourself using _______to help you make a bad decision ______
- technology; faster
- ________ information can significantly improve the chances of making a ____ decision
- High quality; good
- Good decisions can directly impact an organization's ______ _____
- bottom line