Information Value

Information value - Information Quality_ (or alternatively : benefit) in relation to the acquisition and processing costs of information; potential of information to improve decisions by reducing uncertainty.

[Category=Data Quality ]

Source: Martin Eppler, http://www.iaidq.com/main/glossary.shtml , 30-Jan-2009 10:14

Information value : The measure of importance of information expressed in tangible metrics. Information has potential and realised and value. Potential value is the future value of information that could be realised if applied to business processes where the information is not currently used. Realised value is the actual value derived from information applied by knowledge workers in the accomplishment of the business processes.

[Category=Data Quality ]

Source: Larry English, http://www.iaidq.com/main/glossary.shtml , 30-Jan-2009 10:14