Information on Why Information Technology Needs to Manage Quantitative Data
In a broad sense, information is structured, processed and organised data. It gives meaning to data and helps decision making. For instance, a single consumer’s sale at a restaurant is statistical data this becomes relevant information if the business can identify which dish is the most popular or least Popular. This is information that can in theory be used to forecast demand. In practice, however, this sort of forecasting remains beyond the reach of most businesses.
However, businesses do recognise the importance of measuring output data regularly to check on progress or identify areas for improvement. The measurement of output data also makes it easier to compare between different enterprises and to control changes. A company that sells widgets might be able to sell widgets on the Internet but if it cannot measure the quality of those sold it is pointless-and, potentially, damaging to its profits. Similarly, an enterprise may be able to measure its production efficiency but not its service quality. If it cannot measure output and compare performance against competitors, then it has no way of controlling errors or ignoring good performance.
To make use of the Ordinal Data model in the context of information technology, therefore, it is essential to develop and maintain adequate measurement tools to capture and present quantitative data as well as methods to measure and control the quality and quantity of the data produced. For instance, it is important to have a process whereby the chief customer is defined so that all of the activities associated with her sales can be measured and all decisions about the production, selling, marketing, research and development, and administrative functions of the enterprise can be appropriately monitored. Likewise, it is essential to make use of appropriate techniques to measure and control the dimensions of the processes and activities of the enterprise. For example, if the chief customer is defined so that all of the activities associated with her purchase of widgets can be measured and all decisions about the production, selling, marketing, research and development, and administrative functions of the enterprise can be appropriately monitored, then it is important to make use of suitable techniques to measure the quality of the products manufactured and the extent to which customers are satisfied with them.