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Are you making these information mistakes?
Do you simply have data of your company or do you have accurate information? Data is gathered for a purpose, the goal is to turn data into information and provide a basis for taking action. Did you know, that Information can make or break your business? Do you wonder how? In the words of Peter Drucker - The Purpose of Information is not knowledge. It is being able to take the right action. Hence, Information is valuable because it influences a decision or an outcome. For example, if a manager observes that company's inventory has increased month over month, the manager uses this information to control the inventory and procurement. What is Information? According to Business Dictionary Information is defined as: Data that is : accurate and timely, specific and organized for a purpose, presented within a context that gives it meaning and relevance and can lead to an increase in understanding and decrease in uncertainty