The value of information: The value of information depends substantially
on the context in which it is used, and who the users are. Because of the
central importance of context, the value of information to a given set
of users is very hard to determine in advance.
Information management can help users make choices, and help them clarify
particular problems, by:
Selection: of information relevant to the user's context Improve
the signal-noise ratio - restrict what is given to only the most appropriate
and most relevant
Organization: formatting, grouping, classifying
Analysis: evaluation, validation, comparison, synthesis, interpretation
Judgement: establish the meaning of the information in the user's
context Improving ease of use: allow easy browsing, and guide the users
through any formal structure
Characteristics or attributes that are added to data or information that make
them more useful to users than they were at the start of the process.
A taxonomy of factors shaping information value:
Weight. Factors prompting the recipient to treat the information
so seriously that he or she will act on it.
Relevance, timeliness, presentation format, the media used, the messenger
Truth: The confidence the user places in the information. Accuracy,
validity, comprehensiveness, degree of confidence of users
Guidance: Extent to which the information points the way to what
action is needed in particular conditions. Contribution to Problem awareness,
diagnosis, identification of options and alternatives, identification of
solutions, and predictiveness
Accessibility: availability of information to potential users
when needed in a form they can use Knowledge of location, ease of access,
ease of use, understandability, selectivity
Scarcity - value of information which is new, or not freely available
Originality, creativity, and the extent to which original sources are tapped
