Under the viewpoint of strategic information systems data and information plays a vital role in effective decision making as it requires timely, accurate and relevant information. Where the relevant information required are not available at the appropriate time, there is bound to be poor planning, inappropriate decision making, poor priority of needs, defective programming or scheduling of activities. For any organization to perform its decision making more efficient and effective it’s mandatory to plan their activities over short period of time with effective information. Information is supposed to be created through the discipline of enquiry and research with peer moderation to ensure validity and societal influence. The knowledge to be created or established must be stored to ensure continuity of reason, and adaptive academic pursuit. The stored information must then be recalled at will and be disseminated for use in taking decisions, which are in the interest of the society at large.
http://informationr.net/ir/7-1/paper114.html
At the end of 20th century the businesses are becoming more complex, global and knowledge driven therefore managers need to ensure that their company is continuously improved and innovated by latest information in order to give other firms a competitive edge. The use of strategic information is a critical success factor for successful management while relevant and timely information helps the managers in making accurate decisions. Irrelevant facts and information makes decision making ineffective and hence affects the overall performance of the organization.
Determine the criteria to be applied when selecting data and information to support decision making.
Decision making is basically a process of finding all possible solutions to a problem in various situations fulfilling the demands of the organization. This process includes recognizing the problem and stating it clearly, determining the significance of the problem, gathering data and information relevant to the conditions associated with the problem, generating criteria for and developing alternative solutions, evaluating the alternative solutions and choosing from among them then planning, implementing, monitoring, and evaluating the selected alternative(s) and determining if the problem still exists and deciding on future action
http://www.sorach.com/decision.html
The general criteria to be applied when selecting data and information to support decision making is to select the best possible options which are determined by the context and objectives of the organization. Two types of criteria exist in order to select data and information; Hard and Soft criteria. Hard criteria are conditions which must be satisfied in order to have a useful decision, such as budget or time constraints. Soft criteria are conditions which require subjective assessment, and therefore can be more difficult to apply. Examples are level of organizational disruption and employee satisfaction.
Fruitful decisions are based on true facts, reliable information, verifiable data and sufficient time is required to review various kind of options and their implications. Decisions based on intuition are not usually defended and face many hurdles in the long run when implemented. Step-by-step decision making proves to be successful if the decisions are taken in proportion with time and effort and documenting and analyzing each step critically. This helps in clarify thinking process and ensure sustained progress towards efficient and effective decisions.
http://www.preciousheart.net/chaplaincy/Auditor_Manual/9probslv.pdf
The internal environment of an organization is also a supporting pillar for efficient and effective problem-solving and decision making. The communication between the participants of an entity must be open, candid and direct and its operations must facilitate the sharing of information for problem solving and making a decision.
Using information systems in the decision- making process should be a positive exercise. That is, the system should help managers at all levels make better decisions, more efficiently, to the benefit of a greater number of people, and to improve the organization.
Evaluate the impact of management information to an organization
http://www.ehow.com/about_5673049_impact-management-information-system.html
Information Management is the collection and management of information from one or more than one sources and distributing it to one or more audiences. Over the years may organizations have made technology decisions and acquisitions that impact organizational information systems on the basis of their beliefs and recommendations from other stakeholders of the organization. The end result of this approach has dramatically increased the importance of strategic information systems.
Effective information management and use of relevant information is recognized as a key national priority to many developed countries as it helps its organizations to enable and link employees. Management information has impacted the organizations in several significant ways. Firstly it has the capability to share information between all levels and divisions of the organization. Secondly it enables the employees to empower themselves and play a greater role in serving the end consumer which consequently results in the profitable operations of the organization as a whole. Finally, it eliminates unnecessary redundancy and repetition of effort.
If management information systems are implemented and used in a correct manner, they can give a great deal of throughput and accuracy to an organization and surely provide it with a competitive advantage. When the employees of an organization are served with accurate information they feel more empowered which results in more efficient service to its consumers. Finally, the more appropriate the usage of a company`s information management system the more it results in productive and beneficial business decisions that have tremendous positive impact on the organization`s bottom line.
Determine the legal responsibilities in sharing, sourcing and storing information
http://www.bbbonline.org/UnderstandingPrivacy/library/whitepapers/valueofinfosharing.pdf
Information-sharing: Sharing information should basically support business decision making or propel innovation. It allows businesses to understand the needs of the customers correctly and fulfill them rapidly and effectively. It also provides customers to access a wide range of affordable products and services, brings a lot of efficiency in the functionalities of the organization and facilitates the detection and prevention of frauds and other crimes.
The legal responsibilities in sharing, sourcing and storing information by an organization include the collecting of information from various sources which may consist of information regarding research and development, problems and its solutions. Then storing the collected information in libraries and classifying it according to its types and attributes. Organization and standardizing of the stored information must be done based on the importance and usage of that particular piece of information and finally retrieval of information from a library in response to a retrieval request so as to provide the required information to the user who requested for it.
http://choo.fis.utoronto.ca/fis/respub/dlc95.html
Mobilizing the various kinds of knowledge information within an organization enhances its performance and functionalities and makes it an intelligent organization. The basic functionalities of acquiring, organizing, storing, sharing and sourcing information must increase an organizations capacity to harness its information resources and energize organizational growth. Identifying information needs, acquiring information, organizing and storing information, developing information products and services, distributing information, and using information helps in suggesting new strategies for maximizing the value of information and for reinvention of information professionals, be they librarians, information providers, information technologists, or information scientists.
