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AS level Information Communication TechnologyThe Value & Importance of Information
Information, particularly exclusive information to which no other has access, is a valuable commodity. Many businesses often build up mailing lists of potential customers. These names and addresses are stored on a computer database possibly with other information about the person, such as how much they earn. The company then used this mailing list to send out direct-mail using mail merge this is a program that merges names and addresses into a letter, It can be selective: selecting only certain names and addresses according to a certain criteria. Computer data is also valuable that most businesses would go bankrupt if they lost all the data stored on their computers. Companies also sell their mailing lists to other companies. Storing data on customers in a data base enables businesses to target specific customers and to analyse purchases to predict likely customer demands. This means they can maintain appropriate stock levels and operate efficiently so their prices will be competitive. Getting information illegally: Information can be so valuable that many companies may take illegal steps to spy on their revivals. Read Page 4 of Information Communication Technology Mott & Leeming (The 'dirty tricks' campaign that BA tried to keep hidden). How good is information: Information must be kept up-to-date, accurate and relevant. We can take steps to ensure information is good enough for the purpose required:
The Usefulness of DataData ceases to be of value when it is out of data. People move, grow old, die or change their buying habits and their interests. Date-stamping is important, so that people don't rely on out of date information. Constantly keeping information up to date is expensive. What would be the cost of maintaining a web site for a business whose stock and prices change daily? The law requires that personal data is up-to-date and accurate as possible. It is a very expensive business gathering and keeping information up-to-date.
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