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Information As A Resource (Group 4)

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10 views16 pages

Information As A Resource (Group 4)

Uploaded by

mariel.cereno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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information as a

resource
Presenters: Julie Lara G. Cereno and Larribel
Villaflores
Information can be simply defined as “facts about something or someone that are
provided or learned”. Facts are considered relevant truths which had been
validated and identified. Data are considered facts; therefore, processed data are
considered information as they are organized in such a way that they have
additional value behind the value of the facts themselves. Unlike other
organizational resources, information is considered:

1. Expandable
Information can be expanded without compromising its integrity. In fact, by
having additional information, much more can understand from it.

2. Compressible
Although expanded information can give a more detailed explanation, it may not
always needed. An example of this is in news site. Instead of barrage of details,
news site would often give one-liner headlines that provide enough information
about the news.
3. Diffusive
Gossip or rumors can be spread easily. Unfortunately, the same
applies to any kind of information — be it true or not.

4. Sharable
Since information can easily spread, it is considered sharable as
well. Information can be kept calling it a secret. However, once a
person decides to tell it to someone, then he or she will no longer
have control over it.
Information is not all different from other resources.
Similar to how physical resources are managed,
information is considered valuable and also has a life
cycle. It begins with transforming raw materials into a
finish product — processing data to come up with
valuable information.

Information can also be available in different grades


and types, and prices can be measured in monetary
equivalent. There are two options in acquiring
software applications online: a free or trial version or
a full version.

Free versions have limitations in functionality. To


maximize the full range of functions of a certain
application, one should pay a certain amount
depending on the type of upgrade needed. A certain
software can have personal edition and enterprise
editions, among others which cost more as the
functions become broader in scope.
And just like physical resources, the cost of
information can be controlled through various
accounting techniques. An example is the price
difference of DVD movies in different countries like
the Philippines and the U.S. DVD prices are
controlled based on the region codes set by each
country.

Just like physical resources, managing information


is just as important as managing any other
resource in the organization related activities,
technologies, and personnel are also important
such as people, money, and equipment.
Valuable Information Information is said to be
valuable if it has the following Characteristics
(Stair & Reynolds, 2016):

→ Açcurate •Accurate information is error-free. In


some cases in accurate information is generated
because inaccurate data was processed.
Analysts call this as “garbage-in-garbage out.”
By typing “parts of a computer” in the search
bar, Google gives you a list of several websites
which contain the information you are looking
for. However, how do you determine which are
accurate and which are inaccurate! Usually, it is
better to trust sites that are formal in nature
rather than informal ones such as blogs or
Formal Information vs. Informal Information

Formal Information
Informal Information

-It is official and authoritative.


-It is more casual, and less
authoritative.
-It is meant to be taken seriously and
is presented in a formal manner.
-It is presented in a less formal
manner.
-It is usually more carefully prepared
and verified than informal
-It is possibly less reliable
Information, and it’s accuracy and
reliability should also be higher.
Formal Information for your research work could
come from technical websites as well as academic
websites. Pieces of informal information can still be
considered accurate as long as they provide enough
reference and the data can later be verified from
the said references. Nowadays, the use of wiki’s has
become a norm when it comes to information
research. The most popular wiki today is Wikipedia
org. The question, however, is: How accurate is the
content in Wikipedia. org?
1.Complete
-Complete information contains all the important facts.

2. Economical
-Information should be relatively economical to produce. Decision-
makers must always balance the value of information with the cost
of producing it.

3. Reliable
• -Reliable information can be depend on. In many cases, the
reliability of information depends on the validity of the data
collection method.
4. Flexible
-Flexible information can be used for different purposes.
Depending on the situation, personal information can be used for
a variety of ways.

5. Relevant
-Relevant information is important to the decision-maker.
6. Simple
-Information should also be simple, not overly complex. Sophisticated and
detailed information may not be needed. Complex information may sometimes
lead to confusion which could result in inaccuracy of detailes.

7. Timely
-Timely Information is delivered when it is needed. This is true in the case of
whether predictions, stock market forecasts, and traffic management.

8. Verifiable
-This means that information can be checked for correctness and authenticity.
Most authors include references, bibliography, or citations in their works to
enable readers to verify the content.
9. Accessible
-Information should be easily accessible by
authorized users to be obtained in the right format
at the right time to meet their needs.

10. Secure
-Information should be secure from access by
unauthorized users.
Value of Information

Information is considered valuable mainly for business purposes as


businesses depend on it to produce quality products and services .
This helps organizations become globally competitive and be up to
date with the latest trends and technology. Valuable Information
helps managers make good decisions which is why valuable or
useful information is called Knowledge.

Some pieces of Information have entertainment value, and some


have business value, but regardless of the source of value, people
are willing to pay for Information.
Information as a Resource has 4
Characteristics

1.Zero- marginal Cost


The cost of producing the first copy of an Information good
may be substantial, but the cost of producing additional
copies is negligible.

2. Non-rivalrous
Simultaneous consumption of information by consumers is
possible.
Information as a Resource has 4
Characteristics

3. Non-exclusive
Exclusion is not a natural property of information goods, though it
is possible to construct exclusion artificially. However, the nature
of information is that if it is known, it is difficult to exclude others
from its use.

4. No transparency
To evaluate the information, the information must be known, so
one has to invest in learning how to evaluate it.
Thank you for
listening!!

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