Value of information services , Other Management

VALUE OF INFORMATION SERVICES:

At the outset, it must be emphasised that there is no consensus of opinion among information scientists and professionals regarding the "concept of value of information". Neither is there any agreement on the extent to which information has a quantitative value. Also, it is necessary that we distinguish carefully between value and cost. It may be possible to determine the cost incurred in operating an information service, that is to say, its purchase price, staff time, hardware and software costs, etc., but this does not reflect the true value to the users. A great deal of effort has been made in on attempt to produce some realistic way of assessing the value of information services. The fact remains that information cannot, in general, be evaluated in the same way as other resources. Therefore, the value of information, unlike that of more tangible resources, is simply not quantifiable. It must be mentioned that information has no intrinsic value. Its value depends upon its context and its use by particular users on particular occasion, and the,value of information to its users is not possible to determine in advance. We should remember in particular that it is usually only meaningful to speak of a piece of information having value to a specific user in a specific context. Estimates of value differ according to the time, place, and personality of the person (or culture of the group) making the estimate as well as the intrinsic properties of the phenomenon being judged. It must be stated that all judgements of value must be based on the subjective deliberations of a person or group., The degree to which judgements may be, considered objective is bound with measurement and units of measurement.  

Posted Date: 10/23/2012 8:06:19 AM | Location : United States







Related Discussions:- Value of information services , Assignment Help, Ask Question on Value of information services , Get Answer, Expert's Help, Value of information services Discussions

Write discussion on Value of information services
Your posts are moderated
Related Questions
Gestalt Alphabetisation   Ranganathan was following the Gestalt Aplhabetisation to a severe degree in the earlier editions of CCC up to the 3rd edition published in 1951. In th

QUESTION CASE STUDY Tesco began in 1919 with one man, Jack Cohen, a market stallholder selling groceries in London. TESCO was formed out of a merger with T.E. Stockwell f

You have just been appointed as Public Relations Director of a service sector organization and first assignment is to make a crisis communication plan. The subsequent elements s

Definition of Quality Quality  can  be  simply  defined  as  the  measure  of  excellence.  When  a product is manufactured, the customer always looks for its quality, features

QUESTION 1 (a) State 5 criteria which should be taken into consideration when planning a safe place of work. (b) Briefly describe them. QUESTION 2 (a) Define a safe

Guidelines for conducting a competitive negotiation  The most important rule in conducting a complex negotiation is that you should have done the planning for it and you should

Question 1 What is quorum? How is it related to clustering? Question 2 Explain round robin DNS. Discuss its efficiency Question 3 What is VMware server? How does i

Question: There is no one specific method of categorizing organization theories. However, it is generally accepted that: (a) The Type 1 theorists, also known as the classica

A pplying Six Sigma business strategy to project management processes When an organisation would like to introduce the Six Sigma for the new management strategy, the following

Links in InformationTransmission Chain: i)  Sources of Generation: As discussed in Unit 1, the researchers and their employing oreganisations are responsible for generating in