Hicks (1986) states that as the world moves from the days of disparate societies to the days of integration and awareness, the need for having reliable, authentic, and verifiable means of information increases. This results from the fact that managers need processed information for taking better decisions on a routine basis, and this processed information is the output of various processes that are conducted on the initially presented and collected raw data. This raw data constitutes the information collected from various sources within the organization or from external sources, and thus the sources of information gain ultimate importance, no matter which organization it is. Subsequently, the importance of not just information but the information sources as well cannot be denied. The information sources may include, but are not restricted to, employees, stakeholders, shareholders, newspapers, industry analysis, independent news sources, media, competitor publications, etc. Data management is a critical subject of concern today for management, because the reliance on availability of accurate, verifiable and timely data cannot be denied by any means.
The organization under consideration in this assignment is my own organization i.e. where I work. ...Show more