MODULE : AIN1501
,AIN1501 EXAM
REVISION
SUMMARY
Pass this module easily with this
excellent revision summary. No need
to make notes as this is all done for
you. Just read, understand and get a
distinction.
, Stuvia.com - The study-notes marketplace
AIN 1501
TOPIC 1:
NATURE OF INFORMATION AND
INFORMATION SYSTEMS
Study Unit 1: Information
Data Raw materials
Information Set of facts or data organised
Information is data that have been processed.
The creation of information
Activity
Data
Information
Knowledge
Decision Making
Characteristics of information
ACCURATE: Information should be without any errors
Information should be checked to ensure
correctness.
ACCESSIBLE: Information should be easily available to users to
meet their needs.
UP-TO-DATE: Information needs to include the latest possible
information and recording time of data should be
minimised.
DETAIL: Information should contain all the important facts, but
no more than that are necessary.
FLEXIBILITY: Information is flexible if it is usable for more than one
purpose
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, Stuvia.com - The study-notes marketplace
AIN 1501
RELEVANCE: Information should be relevant to the needs of the
users
COST-EFFECTIVENESS: The value of information should always be
balanced with the cost of producing it.
RELIABILITY: Information is reliable if you can depend on it.
Reliability depends on the source of information.
TIMELY: Information should be delivered when it is needed
FORMAT: Information should not be overly complex and should
be supplied in the required format.
Internal users of information External users of
information
Management Sales Managers Shareholders
Financial Managers Marketing Managers Suppliers
Production Purchase Manager Customers
Managers
Staff Managers Employees Financial Institutions
Government Possible
future employees
Internal users of information
Internal users use information to assist them in performing their
daily tasks.
internal source or external source
Examples of Internal users on what information they need:
MANAGEMENT:
Internal information:
❖ Information about their budgets and products to carry out their
financial planning and make informed decisions.
External information:
❖ Forecasting information on the economy, as well as on interest and
exchange rates.
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,AIN1501 EXAM
REVISION
SUMMARY
Pass this module easily with this
excellent revision summary. No need
to make notes as this is all done for
you. Just read, understand and get a
distinction.
, Stuvia.com - The study-notes marketplace
AIN 1501
TOPIC 1:
NATURE OF INFORMATION AND
INFORMATION SYSTEMS
Study Unit 1: Information
Data Raw materials
Information Set of facts or data organised
Information is data that have been processed.
The creation of information
Activity
Data
Information
Knowledge
Decision Making
Characteristics of information
ACCURATE: Information should be without any errors
Information should be checked to ensure
correctness.
ACCESSIBLE: Information should be easily available to users to
meet their needs.
UP-TO-DATE: Information needs to include the latest possible
information and recording time of data should be
minimised.
DETAIL: Information should contain all the important facts, but
no more than that are necessary.
FLEXIBILITY: Information is flexible if it is usable for more than one
purpose
Page 1
Downloaded by: Emgee |
Distribution of this document is illegal
, Stuvia.com - The study-notes marketplace
AIN 1501
RELEVANCE: Information should be relevant to the needs of the
users
COST-EFFECTIVENESS: The value of information should always be
balanced with the cost of producing it.
RELIABILITY: Information is reliable if you can depend on it.
Reliability depends on the source of information.
TIMELY: Information should be delivered when it is needed
FORMAT: Information should not be overly complex and should
be supplied in the required format.
Internal users of information External users of
information
Management Sales Managers Shareholders
Financial Managers Marketing Managers Suppliers
Production Purchase Manager Customers
Managers
Staff Managers Employees Financial Institutions
Government Possible
future employees
Internal users of information
Internal users use information to assist them in performing their
daily tasks.
internal source or external source
Examples of Internal users on what information they need:
MANAGEMENT:
Internal information:
❖ Information about their budgets and products to carry out their
financial planning and make informed decisions.
External information:
❖ Forecasting information on the economy, as well as on interest and
exchange rates.
Page 2
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Distribution of this document is illegal
