Good Information Should Have All These Factors

1043 Words5 Pages
Good Information should have all These Factors:
Valid – Correct Information and not fake. Also means that Logic. (Of an argument) so constructed that if the premises are jointly asserted, the conclusion cannot be denied without contradiction. An very good example of valid is information that you can trust such as information supplied to you by a governing body. Valid financial information would be tax rates supplied to companies from the Governments Tax Office.

Reliable – Consistent information that is valid and can be trusted. Also means that is it highly trusted and that people believe the information it has. Reliable information if information that you can rely on as being correct. It will be from a valid and trusted source. An example of reliable information would be information from your sales department that is supplied to the financial department on the sales figures for last month. As this comes from an internal information source it is reliable and can be trusted.

Timely – It’s done at the right time and it’s relevant at the moment. Also means that the information is useful at this moment in time and will be reliable. Timely is another important characteristic of good information. Timely information is information that is from the correct time period. If a company wants to analyse current profit and loss then they will need to access current sales figures and not the sales figures from 10 years ago. We can also say that timely information is information that is
Get Access