Strength and Flexibility Rock Solid Solutions
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Information Quality
Information quality problems are all around us:
- A customer does not receive an order because of incorrect shipping
information.
- Products are sold below cost due to wrong discount rates.
- A manufacturing line is stopped because parts were not ordered due to
inaccurate inventory information.
- A well-known US senator gets stopped at an airport (twice) because his
name is on a government “do not fly” list.
- Many communities cannot run an election with results that people trust.
- Financial reform has created new legislation such as Sarbanes-Oxley.
What is Information Quality?
Simply put, it is having the right information, at the right time and place, to the right
people to run your business.
Information is vital for any function: sales, marketing, procurement, manufacturing
and planning, shipping, finance, human resources, etc. All companies depend on
information for:
- Management decision support
- Completing transactions
- Operations
- Supply chain management
- Customer satisfaction
Industry experts say the cost associated with poor quality information is greater
than 10-20% of revenue. Does your company have the quality of information
needed to run its business?
Fundamental Principles
Treat information as an asset:
- As an asset, information has value in the same way the facilities of an
enterprise have value.
- Quantify the value of the information to make informed decisions about
investing in information quality.
- Understand and manage the risk associated with information.
- Maximize the value of the information asset.
- The value of information can be quantitatively measured based on the
degree to which it supports the business processes and business
objectives.
Manage information as a resource:
- Information is a resource and is essential to performing business
processes and achieving business objectives.
- Apply proven management principles that have been applied to financial,
inventory, facilities, and human resources.
- Information is a product of any company’s business processes, just as the
products a company sells are products of its manufacturing processes.
Our Mission
- To help companies improve customer satisfaction, increase revenue, and
decrease costs by managing information as both a resource (a source of
help) and an asset (a source drawn on by a company for making profit).
- To promote and integrate the deliberate and intentional management of
information and data into all aspects of business.
- To leverage innovation and best practices from other industries, functions,
and disciplines and apply them effectively to information quality and value.
See the services page and explore this site for more information on how we can help.
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Look for
Danette’s book
published by
Morgan
Kaufmann.
Available at your
favorite book
seller.