Lecture Notes on Information

Introduction

• Welcome students, this is the second lecture of ISKA
• Today's topic: Information

Data and Information

• Data: Raw form, not useful in decision-making
• Information: Processed data, useful for decision-making
• Definition of Information:
  • "Information is processed or organized data presented in a meaningful context, which can be used for decision-making."

Various Forms of Information

• Information can be presented in various forms:
  • Verbal
  • Written
  • Pictures
  • Graphs
  • Tables

Attributes of Information

1. Availability and Timeliness

   • Information must be available when required
   • Without availability, information is useless

2. Purpose or Objective

   • Information should have a clear purpose
   • Without a purpose, information turns into mere data

3. Nature and Form

   • The way information is presented (verbal, written, etc.)
   • Format should be simple, relevant, and highlight important points

4. Speed

   • The speed of communication should match the time taken by the recipient to understand

5. Completeness and Adequacy

   • Information must be complete and adequate for decision-making

6. Reliability

   • Information sourced from a reliable source is crucial
   • Success or failure in making decisions depends on it

7. Quality

   • Information should be free from bias

8. Value of Information

   • Determining the value of information contributing to decision-making

Business Value of Information

• Understanding information as a business asset
• Classification of information at different levels:
  • High Level (Strategic Level)
  • Middle Level (Tactical Level)
  • Low Level (Operational Level)

High Level (Strategic Level)

• Make decisions about the future of the company

Middle Level (Tactical Level)

• Implement decisions made at the high level

Low Level (Operational Level)

• Manage daily activities

Conclusion

• Different definitions and attributes of information
• Classification and business role of information
• Pay attention to key points highlighted in the lecture
• Self-study is essential

Thank You

• See you in the next lecture!