559670-1-19C AID: 8739 | 19/12/2019

Information:

Information is data assimilated in a meaningful form and is primarily used for

decision making purposes. Having the right information is important for effective
decisions and the information must be relevant; accurate and timely.

Characteristics of information:

The following are the characteristics of information:

Relevance: The information must relate and aid in finding a solution to the problem.
The relevant data varies from problem wise.

Accurate: The data collected must be correct and based on facts. It has to be precise.
Information which is relevant but not accurate does not serve the intended purpose.

Timeliness: Information must be available on time for decision making without

which a highly accurate and relevant data has no use.

This case analyze the trade-offs when making analysis of information. During this
analysis trade-offs between relevance and reliability will be identified. As part of case
discussion, the following aspects should be considered:

(a) In order to determine the potentiality of satellite TV, potential factors such as
customer demand those are adaptable to new technology should be determined
by the cable companies. Apart from this, potential cost in adapting the new
technology should be determined. However, the obtaining relevant
information about the customer demand is difficult. Moreover, the reliability
of information so obtained should be judged properly.

(b) There will be a loss in opportunity of going with current market demand, if the
cable companies wait for the success of new technology. Therefore, there will
be a decrease in relevance of information, when there is a delay in obtaining
reliable information.