Improving information for decision makers 3 / 8

High Quality Information

Information is data, processed in such a way that it has meaning to the person who receives it; this can then be used to improve the quality of decision making.

The provision of high quality information is of the utmost importance within organisations and can lead to:

  1. greater customer insights

  2. new business models and revenue streams

  3. operational efficiencies offering significant cost savings as well as improved products and service for customers

  4. quicker more reactive decision making

  5. early warning of potential problems

  6. customised products specific to a customer needs.

Improving information for decision makers

Understanding a business's data needs and collecting data in a deliberate and targeted manner facilitates the provision of improved information.

This benefits of improved information for decision makers includes the following:

  • Enhanced data transparency

  • Enhanced performance - The ability to monitor data points in real-time helps decision-makers take corrective action immediately

  • Market segmentation and customisation

  • Improved decision-making

  • New products and services

  • Operational gains

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