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The best-managed organizations increasingly recognize that information is a key asset - perhaps the most valuable...

The best-managed organizations increasingly recognize that information is a key asset - perhaps the most valuable strategic asset they possess. By focusing on the information rather than the technology, these organizations are finally realizing the full potential of their investments in IT and optimizing business performance.

a.         Explain the four primary traits that determine the value of information.

b.         Describe a database, a database management system, and the relational database model.

c.         Identify the business advantages of a relational database.

Business   Operations-Management   
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Answer #1

Answer 1- The four traits that determine the value of information are -
1) Information type- There are two types of business informations- Transactional and analytical.

a) Transactional information - All the transactional business information such as sales receipt, packing slip is important for daily operations of business.

b) Analytical information -Analytical data is collected form of data that helps in decision making.

2) Information timeliness - Timeliness is a feature of information that depends on situation.
There two types of information timeliness

a) Real-time information - It is immediate and updated.
b) Real-time system- It is information provided on request.

3) Information quality - The information must be precise, accurate, relevent, compelte, unique, consistent

4) Information governance - Data governance - It means overall strategy with data.

Answer 2- Database - A data base is an information base used to easily access or manage information about transaction, events etc.

Data Base Management System- A database management system is a software that helps in altering data in a computer base.

Relational Database Model- It represents the database as a collection of various types of data such as tables, graphs, attributes, degree etc. which can be easily accessed and altered.

Answer 3- Advantages of Relation Data Base Model-

1) Accuracy
2) Flexibility
3) Easy access by multiple users
4) Secure
5) Organized

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