OKIS Lecture 3

Management > Organisational Knowledge and Information Systems > What is information?

What is information?

"Information is seriously undervalued and underused as a corporate resource"

(Evernden, 2003)

As the quote suggests, information has value, not just in the sentimental sense but in the monetary sense. There are many areas in business, such as consultant reports and brands, where people will pay for the information because of what they can gain from it.

In business, it can be argued that data is a collection of facts and information is organised collections of data. It meets a management and process needs if the following elements are in order:

• Relevant
• Timely
• Accurate
• Reliable

Information is quite a unique resource, with a number of properties:

• It is repeatable - unlike a raw material, for example, information can be used again and again, in a number of different situations. More information can be learned from the implementation of the original piece of information, suggesting that it can be enhanced
• It can become obsolete - it can become out of date, such as telex numbers, or its value can be diminished if competitors gain access

Generalised model

Simplified example

Uses of information

Problems to address

Goals and questions

Recognition and administration