2.3

• Valid Information


  Correct, up-to-date and complete information that fits its purpose
• Biased Information


  Technically correct, but slanted, information that presents a one-sided view
• Relevant Information


  Information should be appropriate for the required purpose
• Accurate Information


  Information should be carefully selected and entirely correct
• Reliable Information


  Information from a source that can be verified and confirmed to be correct
• Information Quality


  • The quality of information that an organisation uses will have a significant impact on further processes and decisions
• Reliable information received by the management team


  Can lead to informed decisions with higher chances of success
• Good quality research information


  Can lead to innovation and better understanding
• Good quality sales information


  Leads to strategic decisions and planning ahead
• Accurate cost projection information


  Means that projects will stay within their budget
• Accurate time expectations

  Makes sure that the projects will be completed on time
• Biased surveys with inaccurate results


  Lead to misinformed decisions and not responding to customer needs
• Inaccurate stock information


  Leads to inaccurate delivery dates, customers being unhappy and too much or little stock
• Out of date information received by management


  Can lead to the business missing out on opportunities and a possible fall in profits
• Inaccurate data


  Has led to poor reviews online resulting in a loss in customer trust, customers, reputation and financial issues
• Inaccurate time expectations


  Lead to projects taking longer, costs rising, stakeholders being unhappy and possible project failure