High value information for managers in organisations

Ammuthavali Ramasamy,Nor'ashikin Ali

doi:10.52650/ejcsit.v7i1.110

Abstract

Due to information overload, information management for managers in organisations is a big task. To avoid information overload and to retain the right information for reuse, an effective mechanism for evaluating information is required. Various tools and strategies are presented in an attempt to obtain information's "value." This study examines the topic of information overload, the definition of information value, and associated research on the value of information in many fields to resolve this issue. The Bayesian Theorem and information characteristics are used to offer a framework for evaluating information.

Highlights

There are many challenges in managing information in organisations
Value of Information (VOI) will assist managers to judge the crucial information at work and reduce information overload
VOI is built on a Bayesian statistical framework, in which probability indicates degrees of belief regarding the likelihood of a parameter's possible values [18]

Summary

INTRODUCTION

There are many challenges in managing information in organisations. At present, organisations are dealing with ever-increasing volumes of information. As the senior staff in the organisations have difficulty performing their major tasks due to being overloaded [1] They are constantly plagued with fundamental questions such as how much information and what piece of information needed for the decision-making process. To assess the VOI, Borgonova and Cillo [6] employed probabilistic models that quantified the risk metric, whereas Zhao [3] employed a Bayesian Network These VOI approaches aimed to offer the right information, in the correct format and quantity, at the right time, to the right person, and for a reasonable price, in order to represent the nature of information and aid in value measurement. Ammuthavali & Nor’ashikin, High value information for managers in organisations electronic Journal of Computer Science and Information Technology (eJCSIT), Vol 7, No 1, 2021

RELATED WORK

Information Overload

Information Value

Review on VOI measurements

INFORMATION CHARACTERISTICS

INFORMATION EVALUATION MEASUREMENT

Bayesian Analysis

Naïve Bayesian Classifier

Findings

CONCLUSION