Information, by a broad perspective, is basically processed, structured and organised data that is relevant to a particular situation. It gives context to other data and allows efficient decision making in various situations. For instance, a single consumer’s sale in a restaurant is relevant data-this becomes information only when the company is able to identify which is the least popular or most popular dish. In other words, all the relevant information must be available at the time of decision making as opposed to when the decision is made.
This is further exemplified when people use search engines. A search engine allows users to find what they are looking for by searching for certain keywords. People use these search engines to seek information on their products, certain services and certain companies. Similarly, information processing is a major tool used to gather relevant data that is then used in decision making.
Another important point regarding defining information is when there is a lack of a standard definition of ‘obtaining information’. For instance, one may say that information is obtaining information ‘about’ something while another may say that it is about obtaining information about something. Thus, it may be said that if you are considering obtaining information about anything, you are probably thinking of the concept of obtaining information ‘about’ something. So, when considering the factors that affect decision making, you should include both types of sources of information because no single source can provide complete information about a particular subject. Thus, the sources of information should be considered as whole in a generic sense as opposed to a partial sense. This helps make decision making less uncertain.