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The Quality of Data and Information




Data can be thought of as having five basic characteristics that measure its quality. These five characteristics are accuracy, completeness, relevance, timeliness, and auditability.

Accuracy means freedom from errors. Hopefully, the data edit processes of an information system will detect and reject inaccurate data. It is possible, however that, inaccurate data may go undetected, as if, for example, $10.00 rather than $100.00 is entered.

Completeness of data is needed to ensure that valid information is derived from the data. Each piece of data received may be completely accurate, but if only half of the data are received then any information derived from the data may be invalid.

Relevance means that the data must pertain to the decisions at hand to be useful. A common complaint of managers today is that they receive too much data instead of just the information they need to make decisions.

Timeliness of data is important for decisions that involve rapidly changing conditions. Operational decisions about what must be done today to keep the business running require timely data.

Auditability of data refers to the ability to verify the accuracy and completeness of the data. For example, in accounting systems that help people manage the assets of the company, auditability is an important characteristic.

Because information is derived from data, these same five characteristics apply to it. Useful information can vary widely in the value of each of its quality attributes. For example, with market-intelligence information, some inaccuracy and incompleteness is acceptable, but timeliness is essential. For example, market intelligence may warn us that our competitors are about to make a major price cut. The exact details and timing of the price cut may not be as important as being warned far enough in advance to plan how to react. On the other hand, accuracy and completeness are critical for data used in accounting for the use of company assets such as cash, inventory, and fixed assets.

Active Words and Phrases:

diverse різноманітний valid дійсний
to compile складати, упорядковувати to pertain належати, мати відношення до
account рахунок to involve включати (в себе), утягувати
order замовлення to verify перевіряти, підтверджувати
invoice рахунок-фактура assets активи, капітал, фонди
check out каса в магазині самообслуговування to derive виводити
to acquire придбати fixed assets нерухоме майно; основний капітал
relevant доречний inventory інвентаризація; опис; управління запасами
auditability можливість бути перевіреним intelligence розвідка
to reject відкидати, відхиляти point-of-sale terminal термінал у пункті продажу

Ex. III. Answer the following questions:

1. What is the difference between data and information?

2. Where do business facts come from?

3. What kind of procedures are common to business and daily life?

4. What are basic characteristics of data?

5. What does “accuracy” mean?

6. Why is completeness of data necessary?

7. What do managers often complain of?

8. What kind of decisions require timely data?

9. What does the term “auditability” refer to?

10. What are the basic characteristics of information?

Ex. IV. Arrange the words in the correct order to make sentences:

1. various, Sources, business, and, facts, are, of, diverse.

2. from, freedom, error, Accuracy, means.

3. decisions, data, require, Operational, timely.

4. systems, help, of, accounting, people, to manage, the assets, the company, In.

5. is, raw, Data, a collection, facts, of, which, are, from, made, conclusions.

Ex. V. Fill in the gaps with the words from the box:

inputting, order, processing, to verify, involves, valid, relevant

 

1. Data processing to convert data into information …… the following activities: input, process, store, and output.

2. Before …… data may need to be converted into machine-readable form.

3. The data …… may involve performing some mathematical operations on the data.

4. Data must be edited …… its validity and completeness.

5. A data entry clerk may enter a customer’s …… using some type of computer terminal.

6. Quantity and cost data must be numeric, names must be alphabetic, otherwise data is not ……

7. A lot of managers complain that the data they receive is not always …… to the situation.





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