Information value

Compare with other Characteristic

Characteristic Name:	Information value
Definition:	Quality information should provide a business value to the organization
Dimension:	Usability and Interpretability
Granularity:	Information object
Characteristic Type:	Usage
Implementation Form:	Process-based approach

Verification Metric:

The number of tasks failed or under performed due to the lack of business value delivered by the information

The number of complaints received due to the lack of business value delivered by the information

Validation Metric:

To what extent required capabilities and skills have been implemented to improve the data usage of a task

BackgroundGuidelines

The original definitions given below formed the basis of the consolidated definition of the characteristic.

Definition:	Source:
1) A measure of the degree to which data will produce the desired business transaction or outcome. 2) A measure of the perception of and confidence in the quality of the data; the importance, value, and relevance of the data to business needs.	D. McGilvray, “Executing Data Quality Projects: Ten Steps to Quality Data and Trusted Information”, Morgan Kaufmann Publishers, 2008. More from this source
As a data quality-oriented organization matures, the agreement of usage will move from a small set of “early adopters” to gradually encompass more and more of the enterprise, Ubiquity measures the degree to which different departments in an organization use shared reference data.	LOSHIN, D. 2001. Enterprise knowledge management: The data quality approach, Morgan Kaufmann Pub. More from this source
Data are beneficial and provide advantages for their use.	WANG, R. Y. & STRONG, D. M. 1996. Beyond accuracy: What data quality means to data consumers. Journal of management information systems, 5-33. More from this source

Definition:

Source:

1) A measure of the degree to which data will produce the desired business transaction or outcome.

2) A measure of the perception of and confidence in the quality of the data; the importance, value, and relevance of the data to business needs.

D. McGilvray, “Executing Data Quality Projects: Ten Steps to Quality Data and Trusted Information”, Morgan Kaufmann Publishers, 2008. More from this source

As a data quality-oriented organization matures, the agreement of usage will move from a small set of “early adopters” to gradually encompass more and more of the enterprise, Ubiquity measures the degree to which different departments in an organization use shared reference data.

LOSHIN, D. 2001. Enterprise knowledge management: The data quality approach, Morgan Kaufmann Pub. More from this source

Data are beneficial and provide advantages for their use.

WANG, R. Y. & STRONG, D. M. 1996. Beyond accuracy: What data quality means to data consumers. Journal of management information systems, 5-33. More from this source

The implementation guidelines are guidelines to follow in regard to the characteristic. The scenarios are examples of the implementation

Guidelines:	Scenario:
Continuously asses the relevance and the usefulness of existing data to the organisational goals (Strategic level).	(1)What is the cost of poor quality customer data to the organisation in concern? (2) What revenue can be generated from data?
Continuously asses the usefulness of information based on the tasks at hand (Operational level)	(1) Can we predict our future market share from the existing market information?
Monitor and Measure if the intended goal of the data presentation/Interpretation is achieved	(1) Employee efficiency data is displayed in a dash board to motivate employees. The effectiveness of this display can be measured by examining the efficiency gain of each employee. (2) Has the given sales forecast for the last three years been reasonably accurate compared to actuals.

Information value

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