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Information Analysis:
Information analysis is done for improving the authenticity and usability of information. This is done by specialists in the concerned subject areas keeping in view the requirements of the potential users of the information. The generally accepted process of information analysis includes such activities as:
• Selection
• Evaluation
• Validation
• Standardisation
• Summarisation
• Synthesis
Generally, all these operations require considerable subject expertise on the part of the analyst. The outcome is that the analysed data are more reliable and, therefore, more usable.
The information analysis process also opens the way to new knowledge, through the synthesis of information, and to an appreciation of gaps in knowledge. Such analysis has been the preserve of Information Analysis Centres (IACs) and Data Analysis Centres. One of the best examples of such centres is Cambridge Crystallographic Data Centre. It is worth noting at this point that the information analysis process, demanding as it is of human expertise, is inevitably expensive. Many of the information analysis centres face economic pressures and the services are expensive and so do not attract many users.
Impact of demand forecasting on supply chain management
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