Quality of information refers to its fitness for use or its
reliability. Some attributes are discussed follows:
•
Timeliness:
•
Timeliness means that information must reach the recipients
within the prescribed time frame.
•
Timely information can ensure correct executive action at an
early stage.
•
The characteristic of timeliness, to be effective, should
also include current information.
2)
Accuracy:
•
Accuracy is another key-attribute of management information.
•
It means that
information is free from mistakes and errors, is clear and accurately reflects
the meaning of data on which it is based.
•
It conveys an accurate picture to the recipient, who may
require a presentation in graphical form rather than tabular form.
3)
Relevance:
•
Relevance is yet another key attribute of management
information.
•
Information is said to be relevant if it answers specifically
for the recipient what, where, who and why? In other words, the MIS should
serve reports to managers, which are useful, and the information helps them
make decisions.
4)
Adequacy:
•
Adequacy means information must be sufficient in quantity.
•
MIS must provide reports containing information, which is
required in deciding processes of decision-making.
5)
Completeness:
•
The information, which is provided to a manager, must be
complete and should meet all his needs.
•
Incomplete
information may result in wrong decisions and thus may prove costly to the
organization.
6)
Explicitness:
•
A report is said to be of good quality if it does not
require further analysis by the recipient for decision-making.
•
Thus the reports should be such that a manager does not
waste any time on the processing of the report, rather he should be able to
extract the required information directly.
7) Exception based:
•
Top managers need only exception reports regarding the
performance of the organization.
•
Exception reporting principle states that only those items
of information, which will be of particular interest to a manager, are
reported.
•
This approach results
in saving precious time of the top management and enables the managers to
devote more time in pursuit of alternatives for the growth of the organization.
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