Mis Lecture 8 Information
Transcript of Mis Lecture 8 Information
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Information, Knowledge,Bussines
Intelligence
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Information concept
Characteristics Of Information
Improves rep of an entity
Update the level of knowledge Has a surprise value
Reduce uncertainty
Aids in decision making
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The quality of information could be called
good or bad depending on the mix of these
characteristics
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Information Presentation
Presentation is an art.
The data may be collected in the best possible manner and
processed analytically ,bringing lot of value in the information.
Communication of information is also important. The information and then sends reports to the various
receivers, which is decoded or interpreted by the receiver at
the destination.
A good MIS communicates the information without noise ordistortion to the user.
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The degree of communication is affected by the method of
transmission ,the manner of information handling and the
limitation and constraints of a receiver as the information
processor and the organization as the information user.
The degree of communication can improved by message
routing .
This principle here is to distribute information to all those
who are accountable for subsequent action and decision
making.
It helps to spread of info to appropriate quarters.
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Bias Information
While choosing the appropriate method of communication
should take care that information is not biased.
The presentation of information may create bias and may
influence the user.
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Information A quality Product
Information is a product of data processing.
The quality of information is measured by a manager based
on degree of motivation provides for an action and the
contribution it provides for effective decision making
Quality of information ( Four Dimensions are:-)
1. Utility
2. Satisfaction
3. Error4. bias
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The utility dimension has four facets-
The Form
The Time
The Access
The Possession
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The common key for measuring the quality could be
satisfactory of the decision maker.
An error is the third dimension of the quality. It may be
because various reasons,
1) An incorrect data measurement
2) An incorrect collection method
3) Failure to follow the prescribed data processing procedure
4) Loss of data or incomplete data5) Poor application of data validation and control system
6) A deliberate falsification.
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Parameter Impacting Quality
Impartiality
Validity
Reliability Consistency
Age.
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Classification of Information
Action Versus No action Information
Recurring Versus Non- recurring Information
Internal Versus External Information Planning Information
Control Information
Knowledge.
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More Classifications are
Organization information
Database information
Functional or Operational information.
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Method of Data and Information
Collection
Observation
Experiment
Survey
Subjective estimation
Transaction Processing Purchased fromoutside
Publication
Government agencies.
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Value of the Information
The decision maker feels more secured when you get
additional information in the time of uncertaininty or a risk.
The information is called Perfect Information. It wipes out all
the risk and uncertain situation.
The decision theory stipulates that the value of the additional
information is the value of the change in the decision
behavior resulted by the information, less the cost of
obtaining the information . If the additional info does not any
change in the decision behavior then the value of the
additional info is zero.
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Value of the Information
The value of the additional information making the existing
information perfect(VPI)
VPI=(V2-V1)-(C2-C1)
Where Vis the value of the information and C is the Cost of
obtaining the information.V1and C1 relate to one set of
information V2,C2 relate to the new set. If VPI is very high
,then it is beneficial to serve the additional info need.
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General Model Of a Human as an Information
Processor
A manager or a decision maker uses his sensory receptor,
normally eyes and ears to pick u information and transmit
them to brain for processing and storage. The result of this
processing will be a response which may be a decision , an
action or a least a recognition of the event for future use.
Hence manger is said to be information processor.
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Method Of filtering
It is observed that when too much of info is
overloaded then the manger will have constraints to
take decision hence you need a method of filtering.
In method of filtering it can be of frame of referenceto your knowledge and experience.
And universally acclaimed normal decision
procedure. Or db from proven methods. Such break
even analysis, Pricing selection technology etc.
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Mangers' Individual Difference
The manager's may come to some decision in a given
situation but they may not follow the same decision process.
This is because of the cognitive style of each manager.
Each manager has his own style, a method to perceive the
data, organize and process the same as per his frame of
reference, confidence in the decision procedures and the time
available for the decision making.
The managerial ability, skills and tools pay a considerable role
in the cognitive style of the manager.
These styles affect the information system design and the
satisfaction of the manager.
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Summary of Information Concepts
and their Implications
Understanding of information concepts is very important and
relevant to the system designer and the information user. The
concepts are summarized as follows:
Filtering
The system designer should provide an
appropriate filtering mechanism so that the information is
not suppressed and relates to the frame of reference of the
user.
Care should be taken in the process that the certain valid
information does not get blocked or over emphasized.
A filtering process is used to select and suppress
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Summary of Information Concepts
and their Implications
Simon Model and is Application
The designer should attempt to provide such
information that it clearly defines the problem space
and also takes cognizance of the user's knowledge.The design of the system should be such that an
appropriate mix of these two sources should yield a
decision, leading to a solution of the problem.
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Codes and Representation
The system designer should evolve such coding system that is
easy for the users of the code to interpret.
Secondly, the designer should report the data in such a
manner that the user can grasp it quickly.
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Highlighting
The designer should provide the information in such a way that thesignificant differences between the targets and the achievements,the standards, so that they become easily noticeable by the userwithout search.
Statistical Analysis
The designer should provide the information in such a way that theinformation not only represents something meaningfully but alsoaids in the statistical analysis by the user. The information shouldprovide the additional results such as variance, correlation,coefficients, and futuristic estimates and give a measure ofstatistical significance for the user to consider while decisionmaking
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Format
The designer should present the information in the form or
format which is complete in all respects and in which all data
is processed as per the frame of reference of the user. The user should not be required to do additional processing
with other data set through the computer systems or mentally
by using the data set from the memory.
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Referencing and Adjustment
The designer should evolve a system in such a way that it covers the
valid system boundaries and provides a reference to an acceptable
point (the year, the product, the norm, the standard, the
knowledge), giving a facility to make an adjustment to results orstatus which the information provides
Cognitive Style
Each user has his own style of resolving or reconciling his internal
view and an understanding of the problems or environment versus
the actually perceived or seen or as it exists.
In line with his individual style, he also evolves a process of the
decision making which is personal to him.
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Learning Theory
The designer should appreciate that the user inadvertently is
learning through the information and is building his
knowledge set. Hence the information should be such thatthe user is not overload with the supply of information which
is already known to him.
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Feedback Loop
The designer should provide the information feedback loop,so that the user understands that the process of decisionimplementation is smooth and the results are evaluated with
references to the norms or the expectations, giving the user asufficient motivation to change, amend or act.
Perceived Value of Data
Some data or information may not have a value or animportance in the current operations of the business butsome time in the future or in a different context some value isperceived for the information. The designer would keep thisdata out of the current processing and reporting.
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Information Absorption
The designer should provide only that amount of information
which the user to grasp and use. Any additional information,
beyond the ability of the user's absorption, will be ignored or
go unnoticed without any response.
Individual Differences
The information needs of different managers will differ based
on individual human processing ability and cognitive style.
The designer should support all such needs effectively by
making the separate information reports.
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Organization and Information
Management through decision making is a common feature to
all the organization.
Depending upon the levels in the organization, the nature and
the complexity of the job is determined.
The MIS should acknowledge the problem and difficulties in
various methods of the data gathering and their sources in
the organization.
The people organization, the business organization, the
business organization and the infrastructure of the
organization has an influence on the nature, the type and the
quality of information.
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MIS and the Information Concepts
The goal of the MIS should be to provide the information
which has a surprise value and which reduces the uncertainty.
The designer of the MIS should take care of the data problems
knowing that it may contain bias and error by introduction of
high level validations, checking and controlling the procedures
in the manual and computerized systems
While designing the MIS, due regard should be given to the
communication theory of transmitting the information from
the source to the destination.
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The presentation of information plays a significant role in
controlling the noise and distortion which might interrupt,
while communicating information to the various destinations.
The principles of summarization and classification should be
carefully applied giving regard to the levels of management.
The utility of information increase if the MIS ensures that the
information possesses the necessary attributes.
The information is a quality product for the organization.
A failure to do so would result in a wasteful expenditure in the
development of the MIS and poor usage of investment in the
hardware and software.