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Designing Information Systems to Optimize the Accuracy-Timeliness Tradeoff

Author

Listed:
  • Donald P. Ballou

    (School of Business, SUNY--Albany, Albany, New York 12222)

  • Harold L. Pazer

    (School of Business, SUNY--Albany, Albany, New York 12222)

Abstract

It is well known, of course, that the assessment of this month's economic activity will improve with the passage of time. The same situation exists for many of the inputs to managerial and strategic decision processes. Information regarding some situation or activity at a fixed point in time becomes better with the passage of time. However, as a consequence of the dynamic nature of many environments, the information also becomes less relevant over time. This balance between using current but inaccurate information or accurate but outdated information we call the accuracy-timeliness tradeoff. Through analysis of a generic family of environments, procedures are suggested for reducing the negative consequences of this tradeoff. In many of these situations, rather general knowledge concerning relative weights and shapes of functions is sufficient to determine optimizing strategies.

Suggested Citation

  • Donald P. Ballou & Harold L. Pazer, 1995. "Designing Information Systems to Optimize the Accuracy-Timeliness Tradeoff," Information Systems Research, INFORMS, vol. 6(1), pages 51-72, March.
    • Handle: RePEc:inm:orisre:v:6:y:1995:i:1:p:51-72
    DOI: 10.1287/isre.6.1.51
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    Citations

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    Cited by:

    1. Dominikus Kleindienst, 2017. "The data quality improvement plan: deciding on choice and sequence of data quality improvements," Electronic Markets, Springer;IIM University of St. Gallen, vol. 27(4), pages 387-398, November.
    2. Janvrin, Diane & Mascha, Maureen Francis, 2014. "The financial close process: Implications for future research," International Journal of Accounting Information Systems, Elsevier, vol. 15(4), pages 381-399.
    3. Even, Adir & Shankaranarayanan, G. & Berger, Paul D., 2010. "Managing the Quality of Marketing Data: Cost/benefit Tradeoffs and Optimal Configuration," Journal of Interactive Marketing, Elsevier, vol. 24(3), pages 209-221.
    4. Debabrata Dey & Zhongju Zhang & Prabuddha De, 2006. "Optimal Synchronization Policies for Data Warehouses," INFORMS Journal on Computing, INFORMS, vol. 18(2), pages 229-242, May.
    5. Klein, Barbara D., 2001. "Detecting errors in data: clarification of the impact of base rate expectations and incentives," Omega, Elsevier, vol. 29(5), pages 391-404, October.
    6. Juha-Miikka Nurmilaakso, 2014. "Coordination costs and ICT investments: an economic analysis," Netnomics, Springer, vol. 15(2), pages 57-67, September.
    7. Donald Ballou & Richard Wang & Harold Pazer & Giri Kumar Tayi, 1998. "Modeling Information Manufacturing Systems to Determine Information Product Quality," Management Science, INFORMS, vol. 44(4), pages 462-484, April.
    8. Xiao, Yu & Lu, Louis Y.Y. & Liu, John S. & Zhou, Zhili, 2014. "Knowledge diffusion path analysis of data quality literature: A main path analysis," Journal of Informetrics, Elsevier, vol. 8(3), pages 594-605.
    9. Roman Lukyanenko & Andrea Wiggins & Holly K. Rosser, 0. "Citizen Science: An Information Quality Research Frontier," Information Systems Frontiers, Springer, vol. 0, pages 1-23.
    10. Mustapha Bouachouch & Fatima Ouazzani Chahdi, 2015. "The Effect of Information Exchange on Inter-Functional Coordination within Hospital Supply Chain: Case of Moroccan University Hospital," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 5(1), pages 107-126, January.
    11. Klein, B. D. & Rossin, D. F., 1999. "Data quality in neural network models: effect of error rate and magnitude of error on predictive accuracy," Omega, Elsevier, vol. 27(5), pages 569-582, October.
    12. Craig W. Fisher & InduShobha Chengalur-Smith & Donald P. Ballou, 2003. "The Impact of Experience and Time on the Use of Data Quality Information in Decision Making," Information Systems Research, INFORMS, vol. 14(2), pages 170-188, June.
    13. Bettina Distel & Holger Koelmann & Ralf Plattfaut & Jörg Becker, 2022. "Watch who you trust! A structured literature review to build a typology of e-government risks," Information Systems and e-Business Management, Springer, vol. 20(4), pages 789-818, December.
    14. Roman Lukyanenko & Jeffrey Parsons & Yolanda F. Wiersma, 2014. "The IQ of the Crowd: Understanding and Improving Information Quality in Structured User-Generated Content," Information Systems Research, INFORMS, vol. 25(4), pages 669-689, December.
    15. Roman Lukyanenko & Andrea Wiggins & Holly K. Rosser, 2020. "Citizen Science: An Information Quality Research Frontier," Information Systems Frontiers, Springer, vol. 22(4), pages 961-983, August.

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