7. Information, Management, and Decision Making: Attributes and Relevance

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Summary
Information is crucial for effective management and decision-making. Its attributes—accuracy, timeliness, relevance, completeness, consistency, clarity, accessibility, and cost-effectiveness—ensure that decisions are based on reliable and pertinent data. Various types of information, including descriptive, diagnostic, predictive, prescriptive, operational, strategic, tactical, and competitive, support different aspects of decision-making and organizational management. By leveraging the right type of information, organizations can enhance their decision-making processes, improve performance, and achieve their strategic objectives.

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