What is the Value of Information?

We have all heard it and most likely have even said it: "If I knew then what I know now, I would have done it differently". It all comes down to information. Access to it and effective application of it.

The ability to manage and mitigate business risk depends on the quality of available information. However, there comes a point in the traditional decision making process when it's decision time and decisions are based on what is presented. This can be a turning point based on several key factors:

•    Access to additional information is no longer readily available.
•    The cost to obtain additional information becomes prohibitive.
•    The time needed to obtain additional information extends beyond the decision time frame.
•    The perception that additional information would not alter the decision.

As our professional consulting explores past decisions and discusses their outcomes with business leaders, we find that additional information really does have value. The value placed on the information is significantly based on the final outcome. When the result is not what was expected, which happens more often than most companies will admit, the needed information that would have altered the decision becomes invaluable.

So what if access to ‘perfect’ information was readily available, in real time, and came with a very small price tag? Two major forces are currently at work that make this an increasing reality in the pursuit of business sustainability:

•    Growing Eco Awareness: The 2000s will probably be remembered in ‘sustainability’ history as the birth of mainstream social and eco awareness, with a significant shift in the knowledge of the general public and the corresponding response of the business world.

•    Rapidly Evolving Technology: For the first time in the history, the internet and social media provides individuals, communities, businesses, and non-government organizations the ability to connect in meaningful discussion from anywhere in the world in real time.

Why make decisions that don’t result in the way you intended when access to the information you need is easily available? Taiga Company has resources available to leverage technology to engage business stakeholders and get your company on a path to greater business sustainability.