Information of high quality is:
Relevant
Information should be gathered and used for decision-making, regardless of how intriguing it is. Businesses are frequently chastised for generating excessive amounts of data merely because their information systems can "do it." How do we ensure that information is up to date?
Define the goals of any information reports in detail.
Produce data that focuses on "exceptions," such as difficulties, very high or low numbers, or situations in which limitations have been exceeded.
Up-to-date
If information is to be used, it must be timely. A major retail business manager, for example, requires daily information on how stores are performing and which goods are selling well (or not) so that fast action can be made. Businesses typically need to upgrade or replace their information systems to increase the pace with which information is produced.
Accurate
Information should be devoid of inaccuracies as much as feasible, i.e. the figures should add up. When assumptions or estimations are employed, users of information should be informed.
Accurate data collecting typically leads to accurate information. If information must be exceedingly precise, extra time must be set up for its verification. Businesses must, however, avoid producing "perfect" information; it is frequently more necessary for information to be up-to-date than it is to be flawless.
User requirements are being met.
Different users have various requirements: A managing director doesn't have time to go through large printouts of the previous week's production or sales listings; instead, he or she needs a quick overview of the most important information. Rather of a one-line overview of how things are doing, a quality control supervisor will want extensive information regarding quality testing findings. Encourage users to contribute to the development of the style and structure of information reporting that they require.
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I hope this helps.
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