Quality and value of information & Information overload
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The document discusses the quality and value of information in management information systems, emphasizing that effective decision-making relies on dimensions such as utility, satisfaction, error, and bias. It also covers the concept of information overload, which occurs when the volume of input exceeds processing capacity, leading to negative consequences like stress and delayed decision-making. Finally, it suggests strategies to manage information overload, including focusing on essential sources, summarizing data, filtering messages, drawing inferences, and routing information effectively.
Quality and value of information & Information overload
- 1. Management Information Systems Quality and Value of Information Information Overload Prepared By: Mohammed Jasir PV Asst. Professor NBS, Koratty Contact: 9605 69 32 66
- 2. Quality and value of information
- 3. Quality and Value of information • The quality and value of information can be described as how it contributes for effective decision making • The quality of information is high, if it creates managerial impact leading to attention, decision and action
- 4. Value of Information • Timeliness • Presentation • Accuracy • Completeness • Integrity
- 5. The quality of information can be measured on the four dimensions • Utility • Satisfaction • Error • Bias
- 6. 1)The utility Dimension • The utility dimension has four components namely the form, the time, the access and the procession • If the information is presented in the form of manager requires, then its utility increases • If it is available(time) when needed, the utility is optimized • If the information is easily and quickly accessible through the online access system, its utility gets an additional boost • If the information is processed by the manager who needs it, then its utility is the highest.
- 7. 2) Satisfaction Dimension • The degree of satisfaction would determine the quality of the information • If the organization has a high degree of satisfaction, then one can be safe in saying that information systems are designed properly to meet the information needs of the managers at all the levels
- 8. 2) Error Dimension The error creep in on account of various reasons, namely: • An incorrect data measurement • An incorrect collection method • Failure to follow the prescribed data processing procedure • Loss of data or incomplete data • Poor application of data validation and control systems • A deliberate falsification • The data should be avoided of errors, care should be taken that the information is processed after ensuring the correctness of the data in terms of time and the number of document, and the transactions in the period
- 9. 4) Bias Dimension • The procedure of communicating the information should be such that the system is able to detect the degree and the nature of the bias and correct the information accordingly
- 11. Information Overload • It is a term popularized by Alvin Toffler • Information overload occurs when the amount of input to a system exceeds its processing capacity • It is simply the inability to digest and apply all of the information provided • It results in anxiety and stress, delay in decision making, lack of job satisfaction, waste of time and working longer hours
- 13. Information Overload • It refers to difficulty of a person can have understanding an issue and making decisions that can they caused by the presence of too much information • It is a situation where a manager is given too much information and as a result his is confused and cannot make optimal decisions • Information overload occurs when the amount of input to a system exceeds its processing capacity
- 14. Causes of Information Overload Too much information Difficult to manage information Irrelevance or unimportance of information Multiple sources of information Lack of time to understand information Information Overload
- 15. Causes of Information Overload • Increasing new information • Duplication and transmission • Increase channels of incoming information (e.g. telephone, e-mail, instant messaging) • Historical information • Contradictions and inaccuracies • A low signal-to-noise ratio • A lack of comparing and processing
- 16. Causes of Information Overload • A rapidly increasing rate of new information • The ease of duplication and transmission of data across the Internet • An increase in the available channels of incoming information (e.g. telephone, e-mail, instant messaging) • Large amounts of historical information to dig through • Contradictions and inaccuracies in available information • A low signal-to-noise ratio • A lack of a method for comparing and processing different kinds of information
- 17. Tips to solve information overload problem 1. Focus and specialize in one thing 2. Take Control 3. Follow only valuable sources 4. Unsubscribe from most of the unwanted subscription 5. Organize the time
- 18. Techniques of Managing Overload 1. Data summarizing 2. Message modification or filtering 3. Inferences 4. Message routing
- 19. Data Summarizing • Reduction of data to a meaningful and concise form • Summarization reduces the amount of data transmission with out changing the essential meanings of the original message
- 20. Data Summarizing • Reduction of data to a meaningful and concise form • Summarization is a commonly used method of data reduction and it refers to the reduction of data to a meaningful and concise form • Summarization reduces the amount of data transmission with out changing the essential meanings of the original message
- 22. 2. Message modification or filtering • It refers to the removal of unwanted and irrelevant data so as to make the information more useful to the recipient • Under this method the meaning of the message is altered before it is transmitted • In order to prevent information overload, the data can be reduced to a manageable size through the process of filtering
- 24. 3. Inferences • Process of reaching a conclusion based on facts or evidence • “Conclusion based on facts“ • “This must be either a new pencil or one which has not been used a lot” “a long pencil with an eraser” • “This must be either an old pencil or one which has been used for a long period” “a small pencil without an eraser”
- 26. “The boy is crying” “The boy is hurt in knee” The boy must have fallen
- 27. 3. Inferences • Process of reaching a conclusion based on facts or evidence • Inferences are drawn form a large volume of data and these inferences are transmitted or communicated in the organization instead of original data • This process reduces the volume of data considerably • Inferences may be based on quantitative data such as statistical inference or may be more subjective • The quality of inference depends on the ability and skill of the person who makes the inference The boy is crying The boy is hurt in knee The boy must have fallen
- 28. 4. Message Routing • The message should be distributed to only those persons or departments which really require information to make decision or initiate an action
- 29. 4. Message Routing • The message should be distributed to only those persons or departments which really require information to make decision or initiate an action Eg: Copies of purchase order should be sent to production, distribution and billing sections because these departments have to take direct action based on this order. The copy of purchase order need not be sent to marketing department since they do not require information containing in the order
- 30. THANK YOU