Making Better Use of Information: Aiming Towards "True North"
Published in International Journal of Management and Decision Making, Vol. 4 (4), pp.367-38I.
'If I only had the right information, I could make an informed decision'. How often have you heard that comment? With the information technology currently at our disposal, one would think that the right information would be available and that all decisions would be sound. However, users must still determine what data provides valuable information and what are the limitations of the soundness of a decision. What has been missing from most decision models is prediction awareness, as well as a 'true north' compass reading for the organization, based on goals that reflect the system within the organization and that within which the organization operates. We propose that it is easier to identify what information is needed to stay on course (true north) then make that information available to all decision makers, who can then make more holistic informed decisions when such a compass reading exists.
Kathryn A.S. Lancaster and William J. Bellows. "Making Better Use of Information: Aiming Towards "True North"" Accounting Faculty Scholarship (2003).
Available at: http://works.bepress.com/klancast/5