2.3 - quality of information

Question 1

2.3 - quality of info spec points

Answer 1

2.3 Quality of information, i.e.:
* characteristics (e.g. valid, bias, reliable,
comparable)

• importance of good quality information to
  stakeholders (e.g. innovation, agility, improved
  strategic decision making and focus)
• consequences of poor quality information on
  stakeholders (e.g. misinformation, reputational
  damage)

Learners should know about the characteristics of
information.
This should lead to an understanding of why it is
important holders of information have access to good
quality information and the impacts when information
quality is poor.

Question 2

valid information

Answer 2

correct
up to date
complete information that fits it purpose

example- end of year financial data

Question 3

Biased:

Answer 3

information that present a one-sided perspective

Question 4

Reliable:

Answer 4

info is from a trustworthy source that can be verified and confirmed to be correct

Question 5

Relevant:

Answer 5

if it is appropriate for the required purpose. irrelevant info = incorrect decision making

Question 6

Accurate:

Answer 6

if it carefully selected and entirely correct

Question 7

Positives of Good Quality info

Answer 7

information that is accurate, valid or reliable can lead to better strategic decision, meeting deadlines and innovation.

Question 8

Disadvantages of bad quality info

Answer 8

information that is biased inaccurate or out of date may lead to negative consequences such as loss of customer trust fines and legal challenges