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Need For Strategic Information For Data Collection

Strategic information in data collection is essential for long-term planning and decision-making, providing accurate and relevant data to managers. It supports resource optimization, performance monitoring, and risk management, while ensuring that data aligns with future goals. The benefits of using strategic information include improved policy formulation, increased accountability, and enhanced business intelligence through better data management.

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0% found this document useful (0 votes)
46 views6 pages

Need For Strategic Information For Data Collection

Strategic information in data collection is essential for long-term planning and decision-making, providing accurate and relevant data to managers. It supports resource optimization, performance monitoring, and risk management, while ensuring that data aligns with future goals. The benefits of using strategic information include improved policy formulation, increased accountability, and enhanced business intelligence through better data management.

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ap.itpcbt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

Need for Strategic Information for Data Collection

Strategic Information (DWM)

In data warehousing and data mining, strategic information is important, accurate, and future-
focused data that is taken from large collections of data (data warehouses) and analyzed (data
mining) to help in long-term planning and big decisions for a company or organization.

Figure 1.1: Strategic Information & Planning Chart

In simple words:

 Its useful data collected and studied from many sources.

 Helps managers see patterns and trends.

 Used for future plans and important decisions, not daily tasks.
Example:
A retail company checks 5 years of sales data in its data warehouse. Data mining shows that sales of
winter jackets are growing 10% every year. This strategic information helps them plan how many
jackets to make next winter.

2. Why Strategic Information is Needed in Data Collection

1. Decision-Making Support

o Provides evidence-based insights for managers and policymakers.

o Reduces guesswork and increases confidence in choices.

2. Resource Optimization

o Helps identify the best allocation of human, financial, and technical resources.

o Avoids waste in data collection by focusing only on necessary and relevant data.

3. Long-Term Planning

o Guides the design of sustainable projects.

o Ensures collected data aligns with future goals and anticipated trends.

4. Performance Monitoring & Evaluation

o Enables tracking progress over time.

o Assists in measuring the impact of strategies or interventions.

5. Risk Management

o Identifies potential threats early.

o Helps create contingency plans based on predictive data.


3. Characteristics of Good Strategic Information

Figure 1.2: Characteristics of Good Strategic Information

 Accuracy – free from errors, reliable sources.

 Relevance – directly linked to the goals of the organization/project.

 Timeliness – available when decisions need to be made.

 Completeness – covers all necessary aspects without gaps.

 Comparability – can be compared over time or across areas.


4. Examples

1. Waste Generation Trends

o Data showing how much waste is produced in the city each year.

o Example: “City produces 5% more waste each year.”

2. Population Growth Forecasts

o Predicting how the population will increase over the next 10 years.

o Example: “Population expected to grow from 1 million to 1.3 million by 2035.”

3. Recycling Rate Statistics

o Percentage of waste that is being recycled.

o Example: “Current recycling rate is 35%, target is 50% by 2030.”

4. Cost Analysis of Waste Treatment Methods

o Comparing costs of landfill, incineration, and composting.

o Example: “Composting costs 40% less than incineration per ton.”

5. Impact Studies on Environment

o Data showing how waste affects air, water, and soil quality.

o Example: “Landfill leakage increased groundwater pollution by 15%.”

5. Benefits of Using Strategic Information in Data Collection

 Improves policy formulation and program design.

 Supports compliance with legal and environmental standards.

 Strengthens accountability and transparency.

 Increases public trust through informed, data-driven decisions.


Benefits of a Data Warehouse (Easy Version)

Figure : DWM at Glance

1. Better Business Intelligence

o Stores all company data in one place.

o Makes reports, analysis, and collaboration easier.

o Helps make smarter and faster business decisions.

2. Saves Time

o No need to check many different systems for data.

o Everyone can access the same data quickly in one place.

3. Better Data Quality


Figure : Data Clean

o Cleans and removes wrong or duplicate data.

o Keeps data accurate, updated, and consistent.

4. Improves Security

o Easier to protect data stored in one central place.

o Allows control of who can access what information.

o Uses encryption to keep data safe.

5. Reduces Costs

o Stores all data on one system instead of many.

o Lowers costs for data management and maintenance.

6. Keeps Historical Data

o Stores years of old data for future study.

o Helps find long-term trends and make better predictions.

Figure : Historical data & Future Predication

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