Based on Structure:
Based on structure, information can be classified into detailed information, summarized information, sampled information, and aggregated information.
Detailed information
Detailed information contains very specific details about a particular object, person, place, company, or an issue. For instance, information regarding the performance of a company over the years would provide detailed information about the company. However, using this information, one cannot make assumptions or arrive at conclusions about other companies. Thus, this type of information provides all the information about a particular aspect.
Summarized information
Summarized information comprises an outline of the total information. It is a summary of several items. Such information cannot be used for drawing conclusions about a single entity in the group. For instance, the average amount received as pocket money by a teenager in Mumbai maybe Rs. 500 per month. However, there will surely be many teenagers in the city who receive several times this amount as pocket money; at the same time there will be many others who do not get any pocket money.
Sampled information
Sampled information is a type of information which is obtained by examining a set of items that are randomly selected. For instance, a product is tested in the market by distributing it to a set of customers selected from a larger population. The information obtained from such a test is called sampled information. This information assumes that the sample (i.e., the limited set of people selected for testing) taken truly represents the population under consideration.
Aggregated information
Aggregated information comprises every single bit of information about all the entities in a group. This information is very detailed in nature and is gathered from various data sources. Such information is gathered in huge quantities. Aggregated information is different from detailed information. Detailed information provides the details of only a particular entity in a group while aggregated information provides details about all the entities in a group. For instance, an industry report on the automobile industry would include the performance and contribution of the industry to the economy, the various players in the industry, their individual performance and respective contribution to the industry, etc. This is aggregated information as one can find information about the automobile industry as a whole as well as detailed information about individual players in the industry.
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