1. Business Information

1. Business Information The Oxford Dictionary definition of “information” reads:
“facts told, heard or discovered about sb/sth; knowledge: give/provide/pass
on/receive/ obtain/collect information on/about sb/sth.”
Data becomes information after it has been received and analysed/processed
by the recipient. Data processing may involve classifying, selecting, sorting,
analyzing, etc.
Business information is any information, which relates to business organizations
and their activities. This includes information about business in general, as well as
information generated by and about individual organizations.
Business information should be:
 Clear
 Concise
 Complete
 Relevant:
o to the subject matter
o to the recipient
 verifiable
 timely
 cost-effective
 appropriately communicated
Information is the living blood of any organization, making possible the
coordination and regulation of organizational activities both internally
(coordination and records of activities, bookkeeping, information on staff, etc.)
and externally (keeping records of transactions with suppliers, customers and
contractors, reports to investors, outside agencies like the State Revenue
Department, local government agencies, etc.).