Good Information (P2)

When relating to a small business they need to think about getting good information very differently. My poster here you can find how I explained the Characteristics of good information.

Valid and Reliable

Valid and reliable information is crucial as a small business cannot afford to receive information that is falsified not being able to trust the information given when it is needed most. For example a small business has found research and information from years ago, this data may no longer be reliable for use in the current market such as buying trends from 5 years ago.
 

Accessible

Good information in a small business needs to be accessible as they do not have the resources or money to be able to invest in a high amount of information research. Most likely a small team or 1 person will research this information and they need information that is easy to get.

Timely and Relevant

Again with the small amount of resources a small business will have, they need the information to be relevant to the subject they are trying to research. The information also needs to be up to date because they cannot research this information multiple times as funds will simply not allow it.

Cost effective

The most important factor for a small business will be the cost of the information they are receiving, there is no point the business reaching a topic that they firstly cannot afford or will not give the information they need or deserve for the cost.

Understandable

The same factors apply when relating to the understandable information. A small business cannot simply just waste money on information they cannot understand or does not make sense. This would not be an efficient investment and could lead to their demise.