AI Summary & Key Takeaways
AI InsightInformation is of aright kind if it is desired, needed, accurate, timely and feasible.
📌 3 Key Takeaways
Abstract
Information is significant for all types of decisions. In case of management and business decisions it is the basic input of the decision making process. Uncertainty involved in business life increases the need for iufotmationin order to reduce uncertainly and converl the opportunities to benefits. Accuracy of the decisions in busirrcss life art highly conelated with the availability, accessibility, accuracy, clarity and timeliness of information. Apart fromthese attributes, quantifiability of the information is also very important especially to evaluate the alternative courses of actions in decision making process.The pulpose of this paper is to discuss the importance of quantitativeinformation iu management informatiolt system which occupies a significantportion of the required information. However. in managerial decision making process lresides quantitative information, the importance of qualitativeinformation can not be ignored. Whether quantitative or qualitative, intbrmation is always valuable if it is a right kind of information. Information is of aright kind if it is desired, needed, accurate, timely and feasible.
Özet
Information is significant for all types of decisions. In case of management and business decisions it is the basic input of the decision making process. Uncertainty involved in business life increases the need for iufotmationin order to reduce uncertainly and converl the opportunities to benefits. Accuracy of the decisions in busirrcss life art highly conelated with the availability, accessibility, accuracy, clarity and timeliness of information. Apart fromthese attributes, quantifiability of the information is also very important especially to evaluate the alternative courses of actions in decision making process.The pulpose of this paper is to discuss the importance of quantitativeinformation iu management informatiolt system which occupies a significantportion of the required information. However. in managerial decision making process lresides quantitative information, the importance of qualitativeinformation can not be ignored. Whether quantitative or qualitative, intbrmation is always valuable if it is a right kind of information. Information is of aright kind if it is desired, needed, accurate, timely and feasible.