Characteristics of good quality information can be defined as an acronym ACCURATE. These characteristics are interrelated; focus on one automatically leads to focus on other.
Accurate
Information should be fair and free from bias. It should not have any arithmetical and grammatical errors. Information comes directly or in written form likely to be more reliable than it comes from indirectly (from hands to hands) or verbally which can be later retracted.
Complete
Accuracy of information is just not enough. It should also be complete which means facts and figures should not be missing or concealed. Telling the truth but not wholly is of no use.
Cost-beneficial
Information should be analysed for its benefits against the cost of obtaining it. It business context, it is not worthwhile to spend money on information that even cannot recover its costs leading to loss each time that information is obtained. In other contexts, such as hospitals it would be useful to get information even it has no financial benefits due to the nature of the business and expectations of society from it.
User-targeted
Information should be communicated in the style, format, detail and complexity which address the needs of users of the information. Example senior managers need brief reports which enable them to understand the position and performance of the business at a glance, while operational managers need detailed information which enable them to make day to day decisions.
Relevant
Information should be communicated to the right person. It means person which has some control over decisions expected to come out from obtaining the information.
Authoritative
Information should come from reliable source. It depends on qualifications and experience and past performance of the person communicating the information.
Timely
Information should be communicated in time so that receiver of the information has enough time to decide appropriate actions based on the information received. Information which communicates details of the past events earlier in time is of less importance than recently issued information like newspapers. What is timely information depends on situation to situation. Selection of appropriate channel of communication is key skill to achieve.
Easy to Use
Information should be understandable to the users. Style, sentence structure and jargons should be used keeping the receiver in mind. If report is targeted to new-comer in the field, then it should explain technical jargons used in the report.
Reference:
Murtala, L (2012) ACCA: Training course notes [online]. Available at: http://accalecturenotes.blogspot.com/2011/03/characteristics-of-good-quality.html [Accessed 28 October 2014].
