The correct answer is:
It should be produced if its cost is less than the increased revenue it leads to.
All information should bring greater benefits than the cost of producing it, otherwise it is not worth producing, however accurate it is. Such information can be derived from many sources and would only be produced by a computer if that were the most efficient way of doing it.
Management information is a generic term for information, of all types, given to the people who are in charge of running the business. Operating information is management information relevant to the day-today decision making and running of a business - this can be contrasted with strategic management information, which would assist with longer term strategic decisions.. |
