Why Must Data Be Timely to Make Information Useful? Explain

question 48

Essay

Why must data be timely to make information useful? Explain with an example.

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Definitions:

Disaster Risk

The potential loss or damage that could result from the interaction of natural or human-made hazards with vulnerable conditions.

Suppliers

Businesses or individuals that provide goods or services to another entity along a supply chain, playing a vital role in production and distribution processes.

Multiple Suppliers

The strategy of sourcing a particular product or service from more than one supplier to reduce supply risk.

Supply Disruption

An unexpected event that interrupts the normal flow of goods and materials in a supply chain, potentially leading to stockouts, increased costs, or delivery delays.