Information quality (IQ) is a term to describe the quality of the content of information systems. It is often pragmatically defined as: “The fitness for use of the information provided.” Simply put, it is having the right information available at the right time and place and to the right people to run your business. It is required to clear decision-making about what products develop, for what customers, at what cost, through which distribution channels, reducing the uncertainty that a new product/service development always brings with it.
Information quality is a relatively new concept for many organizations. With the increase in data collection and storage and the mining of that data for business uses, the quality of the information produced becomes increasingly important. Bad information can lead an organization to squander resources on ineffective projects, but quality information can identify needs, direct targeted services and create efficiencies in everyday work. Clearly, this is an area worth close attention.