17-2 Information and the manager o Data: raw facts such as the number of customers o Information: data arranged in a meaningful fashion Good information possesses these attributes Information Quality: measures information accuracy and reliability o Timeliness: information is needed when managerial action is taken a Real Time Information reflects the current condition o Completeness: manager has the information to act o Relevance: information matches the managers specific needs at hand a Irrelevant information does not apply " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 200017-2 Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Information and the Manager ⚫ Data: raw facts such as the number of customers. ⚫ Information: data arranged in a meaningful fashion. Good information possesses these attributes: ◆ Information Quality: measures information accuracy and reliability. ◆ Timeliness: information is needed when managerial action is taken. ◼ Real Time Information: reflects the current condition. ◆ Completeness: manager has the information to act. ◆ Relevance: information matches the managers specific needs at hand. ◼ Irrelevant information does not apply