Without information, an organization cannot use its other resources efficiently and effectively. In order to make a strategy it is vital that the organization possess the intangible asset of knowledge and information…
extremely important for several industries’ and as they have a huge amount of critical and sensitive information which is valuable to the organization and its stakeholders and the information is such that it can be easily manipulated or tampered with. While organizations have a reactive approach to such systems, that is they recognize the need for such systems only after they have incurred a loss of valuable information, smarter companies use a proactive approach and develop systems before hand to mitigate the damage that the company faces due to loss and corruption of such data. (Maybelline , 2010)
For an organization to ensure that its objectives become a driver for its survival and profitability information is of paramount importance. It is the fundamental requirement and a business deeply depends on knowledge and information no matter how big or small a company is or what its information requirements are, all information or raw data lies in the organizations computer system which is highly prune to being violated and misused if proper security measures are not adopted. (Gabrielson,1994)
For Example an Insurance Company’s can improve the quality of the products it provide to its customer if they have in depth information on the customer base that they are serving to. The more knowledgeable they are about an organization, the easier it will be for them to provide products that satisfy consumer needs. Information like the number of children within each household that the insurance company caters to can provide them with an idea to come up with insurances for college students, or savings funds for young children. The information that Insurance companies have is vital to their profitability. They hold important information such as social security numbers and other information of their customers which need to protect against infiltration and corruption as any leakages in such data can cause damage to the company’s reputation.
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