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Types and Quality of Information Explained

The document outlines four types of information: factual, analytical, subjective, and objective, each serving different purposes in understanding and interpreting data. It also highlights five important attributes that enhance the quality of information: promptness, accuracy, precision, completeness, and unambiguity. These attributes are essential for effective decision-making and ensuring that information meets the needs of users.

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Shreya Dikshit
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118 views8 pages

Types and Quality of Information Explained

The document outlines four types of information: factual, analytical, subjective, and objective, each serving different purposes in understanding and interpreting data. It also highlights five important attributes that enhance the quality of information: promptness, accuracy, precision, completeness, and unambiguity. These attributes are essential for effective decision-making and ensuring that information meets the needs of users.

Uploaded by

Shreya Dikshit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

INFORMATION- Types

TYPES OF INFORMATION
• Factual
• Factual information is information that solely deals with facts. It
is short, non-explanatory, and rarely gives in-depth background
on a topic.
• Analytical  
• Analytical information is the interpretation of factual
information.  What does the factual information mean?  What
does it imply?  This is the type of information that researchers
generate in their studies. 
• Subjective
• Subjective information is information from only one point of
view. Opinions are always subjective. 
• Objective
• Objective information is information that is understood from
multiple viewpoints and presents all sides of an argument.
5 Important Attributes that adds Value to the Quality of Information

• (a) Promptness in availability and updation:


Decision is to be taken within a time frame and therefore,
information must be available within the desired time frame. It is
well said ‘Information delayed is information denied’. Some types of
information are required peri­odically and should be made available
to the user regularly and timely so as to avoid delay in decision
making.
The other types of information needs are sudden and irregular. Such
needs arise as and when a business opportunity or threat is
perceived. Updating of information is, thus, a regu­lar activity in any
good information system.
• (b) Accuracy:
Accuracy is the degree of the absence of error in the process of
generation of information.
However, increasing the accuracy may have a cost. It is, therefore,
necessary to determine the acceptable levels of ac­curacy for each
type of information.
• (c) Precision:
• Precision is an important virtue of good quality in­formation.
Too much of information sometimes results in dumping of
important information in the heap of details that may not be
required at a particular point of time.
• Excessive detail of informa­tion results in information overload
causing what is now being termed as Information Fatigue
Syndrome
(d) Completeness:
• Information communicated to a manager should be complete
and meet all his needs. Incomplete information can be
misleading and may result in wrong decisions. That is why, a
man­ager must insist on his involvement in defining the
information that shall be made available to him.
(e) Unambiguity:
• Clarity of information is an important attribute of good
information. Information must be unambiguous and should be
communicated in such a way that it conveys the same meaning
to different users

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