Value of information services , Other Management

Assignment Help:

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.  


Related Discussions:- Value of information services

Professionals - information generation process, Professionals: Profess...

Professionals: Professionals, like medical and legal practitioners, need information to pursue their vocations. The physicians cannot afford to ignore new developments in the

Document selection - library management system, DOCUMENT SELECTION: Yo...

DOCUMENT SELECTION: You have seen that acquisition work includes three distinct phases of activities. Document selection is the first phase. There are two aspects in document

Negotiations , Negotiations  One of the most important activities perfo...

Negotiations  One of the most important activities performed by the supply managers is to negotiate agreements or contracts with the suppliers. Although supply management is de

Managerial Innovation, What are the implications of management innovation i...

What are the implications of management innovation in a banking industry

Cataloguing work - library management, Cataloguing Work: The objective...

Cataloguing Work: The objective of the catalogue is to provide nodes tool that give information about all documents available in a library. The catalogue  must be designed to

Define the term sustainable development, In country X unemployment constitu...

In country X unemployment constitutes a national crisis. According to the Central Statistical Office of this country, in 1999, using the expanded definition that counts as unemploy

Explain the crm strategy at harrahs entertainment, Campaign management at H...

Campaign management at Harrah's Entertainment Harrah's Entertainment is the world's largest gaming organization. Through Harrah's Total Rewards programme customers earn credit

Prussian instructions - british museum cataloguing rules, Prussian Instruct...

Prussian Instructions: The Prussian instructions. Rules for the alphabetical catalogues of the Prussian libraries l translated from the 2nd edition, authorized, 1908; with an

Control of contracts, C ontrol of contracts The contract control proce...

C ontrol of contracts The contract control process commences right at the beginning stage of bid document preparation inviting contractors to bid, and proceeds through the con

Need for technical processing - library management, Need for Technical Proc...

Need for Technical Processing: The need for technical processing has been  brought about by a number of reasons/factors. They are:  1) Accelerated  growth of information  r

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd