Information

Information is a data relevant for a particular situation, process and organise, so as to help decision makers to take effective decisions by reducing the uncertainty associated with the decision situation. when we talk of organisational resources of business organisation we think about money, manpower and material which are the resources of any organisation. Since organisations are open and dynamic, they have to adapt themselves according to their environment, the changes in an organisation are brought about by managerial decisions. The decisions made by management depends on the information about the organisation as well as about the environment. The information like who all are various vendors, competitors and other firms that have captured the market is very important information for an organisation.

Need for information
Information is data relevant to a particular situation, process and organised as to help DSS (decision support system) to make decisions. Information is needed because-

• We process data to present it in a form which is most suitable for the decision.
• Timely available or relevant information give competitive advantage.
• The flow of information controls performance of various organisational activities.
• Information helps to perform various task within an organisation in a planned manner.
• We need to understand decisions and their content for design of an effective information system.
• Information reduces the uncertainty associated with decisions, thereby minimise dissociative risks.

Types of Information

1. Strategical information
2. Tactical information
3. Operational information

1. Statistical information- It is used at the very top level of management within an organisation these are chief executives or directors who are responsible to take decisions for a long-term so it is a long-term, long-range planning driving to achieve the result.

2. Tactical information- It is the tactical planning and decision that take place within the guidelines set by strategic plans. These tactical plans will be very specific. They deal with such matters like who is doing what and within what specific budget and what time scale. It is a short term, short-range planning involving various skills.

3. Operational information- It is the lowest level of information based on the tactical plan. The working in an organisation implements operational plans. Results of operational plans will be passed upward to let the tactical planner evaluate their plans. So it is the day-to-day logistics and routine operation.

DSS- Decision Support System
MIS- Management Information System
OAS- Office Automation System