Data that have been processed and shaped into a form that is meaningful to its users is known as information. Information is considered as a valuable resource required by management in order to run a business organization.
Information can be said to have a number of different characteristics or attributes that can be used to describe its quality. Each of these attributes adds value to information.
There are following different characteristics of information:
Information provided must be accurate and should not contain errors. Information required at all the levels needs to be correct because the father development is based on the available information If the supplied information is not accurate it will spoil the whole development system.
Information is only valuable if it is available on time. If information is made available too early, it may not be relevant. On the other hand, if it is obtained too late, it will be of no use to the recipient.
The information should be complete in respect of the key elements of the problem. Incomplete information may not sometimes solve the purpose.
Information should be to the point and it should contain all the pros and cons of the concerned.
Information must be unambiguous and should be communicated in such a way that it conveys the same meaning to different users.
The information should be reliable. It means it does not depend upon the sample selected method of selection.
Clarity of information is an important attribute of goods information. The supplied information should be clear enough to its intended user and the user should be able to locate the necessary details easily.
The information must be presented in the format which is understandable to all. Moreover, different methods can be adopted to make the presentation as appropriate possible for the intended user.
The information must be consistent. It means it does not change from time to time. A consistent base is to be provided to the information.
Only information relevant to the information needs of the user should be supplied and it should be supplied in compact form.