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However, you asked about information, and not just data, and that complicates the question a bit more, since we can assert rules about data value formats, structures, completeness, etc., but the word "information" conveys not just the data values, but also the understanding and perception of how that data is used within the numerous business processes. Therefore, one way to define information quality is the assurance that the information meets the needs of the consuming business processes.
When information quality is high, the business processes (and not specifically the applications implementing those processes!) run they way they are supposed to run, without significant effort expended on issue detection, diagnosis and correction. Given that, when information quality is high, time is spent doing what is supposed to be done, and when information quality is low, time is spent on figuring out how to get done what is supposed to be done. Successful organizations achieve their business objectives in the most optimized manner, and therefore, I would say that maintaining "high quality" information is at least one success factor for any organization.
More on data and information quality
This was first published in December 2007
Data Management Strategies for the CIO
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