Measuring Information Value: key information properties and approaches to assessment

The principled evaluation of information is necessary if good decisions are to be made in its management, yet there is little support for the evaluation process. This theoretical work sets out to explore and define the properties of information necessary to enable its evaluation. These consist of Accuracy, Trustworthiness, Usability, Currency, Benefit, Cost and Relevance. In exploring these properties a model of information value is introduced which is then elaborated and underpinned by the development of a model of information use impact. This theoretical analysis supports the authors’ earlier work in which a framework for information evaluation is set out (Darlington, et al., 2008) in the context of information evaluation for engineering enterprises and provides the basis for
understanding how practical evaluation may be undertaken.