INFORMATION - Characteristics

Headings are grouped for easy learning :-

1. Validity – Information should suit the requirements of system and user e.g. data provided in liters may not prove worthy if organization requires data in kilograms.
2. Quality – Correct and acceptable data only can serve the purpose for which it was meant for.
3. Reliability – Data must be worth trust e.g. A survey report must be truthful, then only it can help to solve problems.
   
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4. Frequency – Gap of period between generation of information must be as per requirements of specific personnel. A daily report, for example, is required by accountant for all the transactions entered in day book, but P&L A/c and balance sheet are presented fortnightly or monthly. Thus frequency may depend upon data and level of operation.
5. Redundancy – Duplication of data in a single report becomes a necessity sometimes e.g. Sale bill may contain total amount both in figures and words. Thus whenever redundancy is required, information should be provided in that form.
6. Completeness – Information should be complete in all respects e.g. sale of organization in a particular city may be more than outlet in other city but performance comparison should also take into consideration population level, consumer status and other relevant factors.
7. Meet the purpose – Information should be according to the requirements of purpose e.g. in an automobile industry if only time of check-in and check-out of cars is recorded but not driver detail and model no. then it may not serve purpose for PDI (Pre Delivery Inspection) in-charge.
   
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8. Rate – Measure of information must be as per nature of information e.g. bananas are measures in dozens and apples in kilograms.
9. Timely – Information must be provided at a required time because beyond a certain point of time it becomes useless e.g. market rate of particular shares if belongs to two days earlier, it is of no use, since market rates change within a click of second.
10. Cost – Procurement of information involves cost. But cost of information must be analysed with respect to benefit derivable from information.
11. Format – Compatibility of information should be as per requirements e.g. balance sheet required for income tax filing purpose may be different from that which one is required for obtaining term loan from bank. Thus format of information, both providing and requiring should be as per desired format.