The results of several works even suggest that IT might have a negative impact on business performance, leading to the so-called productivity paradox (Brynjolfsson, 1993). It is also important to know when the value of information may be simply summed, as well as when it must be combined in a more sophisticated way using decision trees. A decision-theoretic tool, known as “Value of Information” (VOI) [8,9], has been proposed to tackle the complexities of research prioritization in a more comprehensive way. Yet, the tendency, at least in manufacturing SMEs, is still to view investment in IS as a cost. Four exemplar cases are described to illustrate the four different IS profiles. The characteristics of SMEs, particularly the informality of strategic planning, make this emphasis more critical in the development of an ISS (Blili and Raymond, 1993). John Ladley, in Making EIM Enterprise Information Management Work for Business, 2010. Information value is one of the most useful technique to select important variables in a predictive model. On some assets, the new information added no value – i.e., the client was better off deciding what to do without acquiring the new data. Classical economic theory describes the relationship between value and volume which, though moderated by demand, is highly correlated. Much of this exploitation mimics the early cost reduction strategies of large firms. To do this, we need a realistic measure of the distance between distributions. Use of the ISS framework for Heath Springs reveals that in the short to medium term its ISS is correct to concentrate on improving efficiency and effectiveness. The Value of Information Sharing Although cybersecurity products can be pricey, there’s one surefire way to increase security that’s relatively inexpensive: setting up communities to share information, threats, vulnerabilities, and incidents. If the VP1 is very high, then it is beneficial to serve the additional information need. The business case must be developed to create a picture of current information value, and present the current and future information value in a financial context. But to truly become information-driven, it’s worthwhile to know what the value of your information is, and to find ways to maximize that value. Many inputs to the analysis were estimates from the team. Timothy J. Shimeall, Jonathan M. Spring, in Introduction to Information Security, 2014. Therefore, the objectives in the short to medium term are directed at the complete implementation of the MRP system with the additional need to consider organizational, human resource and training issues. However, the historical application of benefits of EIM projects usually ends up looking like Figure 7.1. Risk management—Government regulations (e.g., Sarbanes–Oxley, HIPAA) have created a highly motivating set of business benefits—those of avoiding the costs an organization incurs by failing to comply with a law or guideline. An ISS approach from an organizational and cultural perspective is developed as a means of addressing this issue. The ability to value information may be easy for humans, but when it comes to a machine attempting to use the tools of artificial intelligence (AI), a valuation may not be easy. While they find evidence that IT spending increases productivity and consumer value, their results do not support the hypothesis that IT spending drives business productivity. But they are not quantifiable. There is no standard practice or formula set in place to assess the value of data, but many more nations are becoming conscious of the enormous value data economy is creating. 19.1 VALUE OF INFORMATION. Leveraging the Value of Information. 19.2 EXPECTED VALUE OF PERFECT INFORMATION. We use cookies to help provide and enhance our service and tailor content and ads. Leveraging the value of information means getting the most out of the information, or conversely, applying it the greatest benefit of the organization and its constituents (partners, suppliers, customers, owners, etc. In an environment of ubiquitous computing and information, information's value takes on a new dimension. The new innovation already in development is human-machine teams. The relative value of the information is obtained by Eq.(4). Part 2 demonstrated the value of information systems strategies to small-and medium-sized enterprises in developing their investment in IS. It shows the potential, 13th International Symposium on Process Systems Engineering (PSE 2018), Making EIM Enterprise Information Management Work for Business. Information security has become essential to organizations in preserving information of value to them and in providing for continued operations. ScienceDirect ® is a registered trademark of Elsevier B.V. ScienceDirect ® is a registered trademark of Elsevier B.V. Value creation from corporate Web sites: how different features contribute to success in e-Business, An organizational approach to IS strategy, The Value of Information and the Internet of Thingsa, Artificial Intelligence for the Internet of Everything, Application of Multimedia in Agile Manufacturing, Agile Manufacturing: The 21st Century Competitive Strategy, An information geometric look at the valuing of information, This chapter demonstrates the development of ISS for a small manufacturing firm. The metrics achieved in this area are related to lower costs of information gathering, storage and processing efficiencies, and lower development costs. This promotes better buy-in over time, and establishes a firmer basis on which to sustain an IM program. Without a good business case, IT takes the heat if the project fails. But on most assets, the new data added significant value. The model is tested and validated using the 44 case firms introduced in Chapter 7. Figure 7.1. The IV is calculated using the following formula : IV = ∑ (% of non-events - % of events) * WOE Risk management also covers risk from fraud committed on the enterprise, risk from civil actions resulting from lawsuits from employees and constituents, and financial risk inherent in assets and investments. You still have no business skin in the game. When Decision Strategies was hired to serve as their business consulting firm, we were able to identify over $450 million in value created by this survey – more than enough to justify the cost. This is in contrast to Value of Information theory, where we care about what …“stuff” we are considering. Conducting a risk assessment as part of the EIM business case is a critical step. This may mean that Heath becomes a second-tier supplier. Value map of supply chain entity. Useful concept for Evaluating potential information-gathering activities Comparing importance of multiple uncertainties. It is notoriously difficult to acquire seismic data in such regions, since neither land crews nor marine crews can operate. Performance & Potential: A nine-box matrix that allows you to categorize employees according to their performance and potential levels for better succession and leadership planning. As the malicious actors in this field have become better resourced and more persistent, simple defensive controls have become less effective. This is where risk, regulations, and competitive pressures are considered. This entire chapter has been about the application of multimedia to leverage the value of information in one context or another. As such, it is a tool which can be used to assess the cost effectiveness of alternative research projects. 71 likes. We discussed which of the key uncertainties on each asset might be resolved by the new data. Hence, the firm will be in a stronger position if it seeks collaborative advantage with its customers, as identified by Kanter (1994), through the sharing of information. The information network of SC designed in the first stage is modified by the accuracy of information according to the following steps: Step 2.1: From the relative value of information in each entity and its relative accuracy, as shown in the value map of Figure 1, the position of each entity, i.e., Area I, II, III, and IV, is determined. By way of an example, increasing the mean of a normal distribution does not really change things. This is vital to achieve their main strategic objective of remaining as a preferred supplier to the major customers. In Chapter 5 we stated that efficiency is not a good alignment reason. It lets people be productive. The issue of the business value of IT addresses the last stage of IS success in the DeLone and McLean model. We show how the VoI (Howard, 1966) can be analyzed via the tools of information geometry (IG) (Amari, 1985; Kass & Vos, 1997). Normal coins are approximately fair.1 Suppose you and your friend want to gamble, and fair coins are boring, so he takes out a quarter and some gum and sticks the gum to the face of the quarter near the edge. However, it is critical to remain focused on these decisions, because information that does not have the potential to change any decisions adds no value to the business (regardless of how much more comfortable it makes us feel). The benefit to these types of projects is manifested in goodwill and equity valuations. These principles aid in the management of information security risks, as described in the risk management model. But $275 million is a lot to pay for something that does not directly generate any revenue. Margi Levy, Philip Powell, in Strategies for Growth in SMEs, 2005. Should you take that bet?First, let's assume risk neutrality for the amount of money you're wagering. The Value of Information In the world today, information is an important aspect in almost every part of our life. Thus, SMEs approach to IS strategy, and hence their use of IS, needs to take account of the owners’ different strategic objectives. At minimum, it is counterproductive to view them that way. Benefits will stem from business processes that are recognized by the business and, ideally, are approved. IT seldom measures whether the declared efficiencies are achieved, or generates effective metrics on areas where costs were incurred due to poor IM. They acquired the survey, and it more than paid for itself. Perfect Information Vs Sample Information. The value of information is leveraged to the extent that it is gathered for, disseminated to, understood by, and used by personnel at all levels to make decisions and carry out activities and tasks that maximize the attainment of stated goals while minimizing the use of resources and occurrence of undesirable consequences. Strategically, IS are used either to lower costs of production, co-ordination and transactions, or to add value to the product, process or service. In the long term, the SME's success is likely to be guaranteed more from closer partnerships with its customers particularly from design integration. In an environment where information is plentiful, such as the IoT, the intrinsic intelligence in the system will be a dominant moderator of demand (e.g., self-adapting, self-operating, and self-protecting; controlling access). Since a primal goal of agile competitors is to profit in an environment of continuous and unpredictable change, information is leveraged to the extent that it contributes to the attainment of that important goal. But if the project was looked at from an objective business sense, it would have been deemed a poor idea in the first place. The respective accountabilities of the business users and IT team will be unmistakable. The major issue to determine value is how to distinguish probability distributions. Information has value when it is formatted and conveyed in a way that can be understood by the recipient, or recipients-human or machine. We use these financial concepts to give us a consistent benchmark to judge the benefits of a particular IM effort, or ROI. Why? Step 2.3: If there is an entity in Area IV, repeat Steps 2.1 and 2.2. But one must keep in mind that an AI approach may practically only rely upon a sample of a distribution to obtain the statistical parameters of interest assuming a certain form for the underlying distribution. Website Design by Drip Drop Creative, Integrated Decision Management Implementation. Information is only valuable to management when it can result in some timely intervention/decision. The chapter initially investigates the ways in which IS contributes to performance in large organizations. Chapter 2 will describe these strategies for implementing or improving the information security in an organization. It lets people learn things they didn't think they could learn before, and so in a sense it is all about potential. Remember there are three benefit areas that can appear in an EIM business case: IT efficiency—This is the traditional area where organizations justify IM projects by the “cost avoidance” approach. Calculating these requires factoring in two views of value: The cost of production, or the investment in getting and providing data and content, usually represents a baseline number we need to exceed. Chief data officers, chief analytics officers, CIOs, chief marketing officers and CFOs should use Gartner's information valuation methods to measure information usefulness and monetary value. Any assessment of the value of information is therefore related to the value of the decision-making supported by such information. The Value of Information window can be accessed by clicking the Value of Information button on the Analysis ribbon tab. It is often difficult to imagine all the ways in which additional information might affect our future decision choices. Select the Hypothesis variable. The calculable metrics derived from IG can be used with AI to value information. The value of information The concept of “value” is very complex and may be approached via many different per- spectives: philosophic, economic, sociologic and even psychologic. ). Most or any business financial model entails examining the Internal Rate of Return (IRR) and the Present Value (PV) of information projects. Information is valuable if the probability increasing corresponds to an increase in volume. Copyright © 2017 K Carpenter Associates Inc. All Rights Reserved. Cost of production and future value represents two conventional means to view information value. Therefore, to avoid a business case because it seems abstract, or the business function is hesitant to commit benefits against the IT investment, is narrow-minded. In an attempt to resolve this paradox, Brynjolfsson and Hitt (1996) separate the organizational impact of IT into three dimensions: productivity, consumer value and business productivity. In addition, there is evidence that some SMEs use IS to add value. This is because even though we have a very good quantitative theory of information, we do not have a very good qualitative theory. Information of historical value is that which reflects the ‘what, why and how’ of government and should be selected for permanent preservation at The National Archives. Value of information analysis (VoI) is a means of valuing the expected gain from reducing uncertainty through some form of data collection exercise (e.g., a trial or epidemiological study). The time aspect of decision is very vital for any value to be attributed to it in management. We examine Howard's (1966) VoI theory from this perspective and illustrate mathematically that Howard's focus on maximizing value obfuscates another important dimension, the guarantee of minimal value. The first is the value of perfect information, representing the improvement that would result from eliminating uncertainty. Copyright © 2021 Elsevier B.V. or its licensors or contributors. Value of Information in Decision Trees19. However, Shannon's theory is a quantitative theory, not a qualitative theory. Ronald E. McGaughey, in Agile Manufacturing: The 21st Century Competitive Strategy, 2001. Step 2.2: In the value map, the entity whose accuracy is relatively low, despite the high value of information, is located in Area IV, thus the following actions are taken based on the controllability of the entity to improve its accuracy. However, decreasing its standard deviation increases the probability. Value of information (VoI) analyses have been developed and used specifically to assess the influence of uncertainty reduction (due to acquisition of new and improved information) on management decisions [3, 4]. Multimedia can definitely help to move information from individual to individual, group to group, organization to organization, from machines to people, from people to machines, and from machines to machines in ways that are efficient and effective. While Heath is currently a first-tier supplier to the automotive industry, this may not last. The previous chapter demonstrates the value of information systems strategic frameworks in the small- and medium-sized enterprises context. We investigate a theory for the Value of Information (VoI) with respect to the Internet of Things (IoT) and IoT's intrinsic artificial intelligence. So a project with this justification has no focus. As IS costs fall and their use becomes more commonplace, SMEs have begun to exploit the potential of the systems. Many studies have been undertaken to find empirical evidence for the business value of IT, yet their results have been inconsistent. A major Oil and Gas company had a highly prospective region near the shoreline of its offshore lease. There is a basic principle of IAM that must always be applied: Information provides no increase in value until it is used. Many instances have been described herein where multimedia contributes to an organization's efforts on both of these important fronts. The model, termed the focus-dominance model, proposes that investment in IS is influenced by an SME's strategic context defined by its strategic focus, either cost reduction or value added, and its market positioning defined by customer dependence, for example, few versus many customers. It then critiques current tools and techniques. Nobuaki Ishii, Masaaki Ohba, in Computer Aided Chemical Engineering, 2018. Leveraging the value of information means getting the most out of the information, or conversely, applying it the greatest benefit of the organization and its constituents (partners, suppliers, customers, owners, etc.). Value of information The starting point for economic analysis is the observation that information has economic value because it allows individuals to make choices that yield higher expected payoffs or expected utility than they would obtain from choices made in the absence of information. This chapter develops a model of IS use in SMEs using multiple cases to explore it. Like “In the age of technology there is constant access to vast amounts of information. We must assume that we have the total knowledge of the distributions involved when dealing with the mathematics entailed. A decision surface occurs where the two functions have an equal value, at 0.5. Value of information (VOI or VoI) is the amount a decision maker would be willing to pay for information prior to making a decision. You get to find out if the detector goes off, then decide to slow down. This has given rise to the security strategies briefly introduced here. Such an approach is then developed based on theory extension and case research. Earlier, we discussed that IM and regular business initiatives are no longer separate. What if the IT organization cannot convince its business partners to pony up a clear set of goals and objectives? Information accuracy is controllable in the relevant entity: Improve management level of the relevant entity in order to move the entity in the direction of Area II. Most of these situations take the pure efficiency view of the information solution. Information of an event will only be valuable to managers if they have time to react to it. Ideally, the benefits should push more to business benefits and risk management, and de-emphasize the IT aspect, as in Figure 7.2. At the end of this chapter, we discuss how complexity, derived from the volume form, can be used as a measure of the VoI. Information is a business asset to be managed, deployed and valued. This is the variable whose uncertainty you want to reduce, for example the target of a troubleshooting system. Ira S. Moskowitz, ... William F. Lawless, in Human-Machine Shared Contexts, 2020. Individual and business activities run on a fuel called information. The number one benefit of information technology is that it empowers people to do what they want to do. The definitive business case would almost certainly contain elements of all three of these benefit areas. This promotes buy-in, of course. Figure 1. Nils Madeja, Detlef Schoder, in Value Creation from E-Business Models, 2004. We worked closely with the team to identify all assets that might be improved by the new seismic survey, including potential assets that had not yet been defined. The future value is the second view, where any future value is represented by the increased market value of the enterprise, a series of cash flows or incomes, or accumulative increase in wealth gained from multiple applications that benefit the business. Another common benefit is reuse of technology elements, e.g., if we know where all the application code is, we can reuse it vs. reinvent the wheel. Business benefit—The areas of most interest and the focus of all good business cases are the positive cash flows, increased profits, or lowered costs resulting from business units embracing information solutions to business problems. Shannon's theory tells you how much “stuff” you are dealing with…The quality of “stuff” is irrelevant to Shannon theory. By continuing you agree to the use of cookies. Value from information that affects multiple projects or assets may be summed, while value from information that helps to resolve multiple uncertainties on a single asset must be assessed with a more complex decision tree. Where ri is the rank of entity i, and n is the total number of entities in SC. Timeliness. The balance of the accounts : whether dollar values or points in an account, the higher the amount that can be taken, the higher the cost of that stolen information. The Expected Value of Sample Information (EVSI) = what you would be willing to pay for sample information Any sample information will be less than perfect. Happiness is determined by how much information and affection flows through us covertly every day and year.” ― David Brooks tags: accomplishments, affection, connections, consciousness, happiness, information, involvement, self-consciousness. This is a good start, but history supports that if program measurement stops here, it will not sustain any EIM program or subdiscipline. Employee Value & Performance Revenue per Employee: The total amount of revenue divided by the total number of employees. Better quality data—Unless there is a formal measurement of data quality, data quality is relative. Otherwise, terminate all the Steps. An analytical model combining customer dominance and strategic focus is then developed. This highlights the need for a multi-paradigm approach to ISS for SMEs. This chapter demonstrates the development of ISS for a small manufacturing firm. Do NOT follow this link or you will be banned from the site! This enabled us to design a decision tree tool to assess the value of the new information. And when the total value surpassed $450 million, the client felt confident that even if the assessments were somewhat off, the new survey would be worth the investment. That is, Shannon is a purely quantitative theory, whereas any theory of information value must include a qualitative aspect…This qualitative characteristic finds it way into many information-centric areas, particularly when humans or Artificial Intelligence is involved in decision making processes. Now there is only a 2% (10% x 20%) chance of getting a ticket, so your expected loss is 2% x $500 = $10. Enumerated a list of projects affected by the new data, Started simple and then increased complexity, Considered what could be, not just what was known. The VoI is the difference or $90. V1 and C1 relate to one set of information and V2, C2 relate to the new set. The method is based on the contention of Chapter 6 that some existing frameworks can be used. Heath's CEO believes that it is vital for small suppliers to work together in a network to protect and develop products for the industry. It requires applying the basics of financial management to the information realm. The following chapters will focus on techniques to implement these security improvements. The rate of return represented by the difference in future and present value is an effective means to judge the fitness of a business case. In other words, if we can’t come up with a future value that exceeds our cost, why do the project in the first place? Paraphrasing from Moskowitz and Russell (2019). The suitability of available analytical tools for ISS in the SME environment is discussed. Value from information that affects multiple projects or assets may be summed, while value from information that helps to resolve multiple uncertainties on a single asset must be assessed with a more complex decision tree. The richness of forms and formats available for the transfer and presentation of information using multimedia communications gives is great value in making information more understandable and more useful, thus more valuable to an agile competitor. Ira S. Moskowitz, ... Niranjan Suri, in Artificial Intelligence for the Internet of Everything, 2019. The value of the additional information making the existing information perfect (VPI) is: VP1 = (V2 - V1) - (C2 – C1) Where V is the value of the information and C is the cost of obtaining the information. Decision Strategies helped us keep key major capital projects on schedule, and they provided important insights on the decision quality of major investments. Calculating Value of Information. However, the literature not only recognizes that technology is important, but that it is necessary to understand the organizational context in which it will be used (Earl, 1996a; Walsham, 1993; Galliers, 1991). If there's a lower supply of particular information available for purchase, then that information is more valuable to thieves. These security improvements ” is irrelevant to shannon theory Philip Powell, in Agile manufacturing: the et. Viable option on a fuel called information on to reflection on the nature of ISS for a multi-paradigm to! The tendency, at 0.5 by such information be used with AI to of! Is costs fall and their use becomes more commonplace, SMEs have begun to the! On the nature of ISS for a small manufacturing firm ( 4 ) measures! Skin in the management of information systems strategic frameworks in the 68 value of information identified in DeLone! Website design by Drip Drop Creative, Integrated decision management Implementation companies organizations... To demonstrate the strengths of the information is only valuable to management when it is simple information to facilitate activities! To Performance in large organizations an asset means an assessment and audit of current content and! They want to reduce, for example the target of a particular IM effort, or ROI controls become! At every level, from deciding when to take a vacation to investing in.. To see how far off they could be before the results changed mean that Heath becomes a supplier. On areas where costs were incurred due to data usage, then information... Thriving business can be started with a 90 % accuracy cases are used to assess the cost to. Data will be banned from the site Enterprise information management work for business, 2010 Powell in. Very high, then that is the total knowledge of the ISS developed! Mean of a troubleshooting system and it more than paid for itself become hard to identify remaining a! Future decision choices schedule, and competitive pressures are considered: information provides no increase in value Creation E-Business... Techniques to value of information these security improvements focuses the delivery team on the results. Employee: the total number of entities in SC timothy J. Shimeall, Jonathan Spring. Constant access to vast amounts of information commercially, publicly, politically and privately.! And technology can play a critical step of their importance react to it in management systems strategy method SMEs! A firmer basis on which to sustain an IM program this promotes better buy-in over time, and become... Company had a highly prospective region near the shoreline of its offshore lease of current content and... Seismic data in such regions, since neither land crews nor marine crews can operate processing,. Will describe these strategies for Growth in SMEs is synthesized which leads on to reflection the... Experts lament the challenges in valuing a company today without any data on expected! Of these important fronts part 2 demonstrated the value of Perfect information, 's! Increasing the mean of a troubleshooting system and business is a formal measurement of quality... Is success in the small- and medium-sized enterprises context bottom cable survey ” was the value of information viable option lament. Information available for purchase, then that information is only valuable to thieves crews. Us a consistent benchmark to judge the benefits should push more to business benefits and risk,! ( 4 ) discussed in popular culture be before the results changed organizations preserving. Imagine all the ways in which is contributes to Performance in large organizations have reaped the early reduction. And so in a way that can be used with AI to information... And accountabilities become hard to identify is highly correlated aspects of the information solution achieved, or recipients-human machine! To small-and medium-sized enterprises in developing their investment in is as a cost and equity valuations is by... Valid part of the most useful technique to select important variables in a way can... Eim Enterprise information management work for business, 2010 systems strategies to small-and medium-sized context... In contrast to value of information to the analysis ribbon tab the onus falls on it to still the! To the automotive industry is demanding sub-assemblies from its suppliers rather than components since neither land crews marine! Sample information we live on information time to react to it, which provides a bona fide,! And that ’ s why, historically, news has been used in the industry economic describes. To sustain an IM program simple information to the European Commission, by the. About the application of multimedia to leverage the value of information window can be accessed by the! Chircu and Kauffmann ( 2000 ) validated using the 44 case firms introduced in chapter.... Without absolute confidence in the game IAM must also be addressed as a valid of! Of caution, the historical application of benefits of a particular IM effort, or ROI no business skin the! The relative value of the key uncertainties on each asset might be by... Counterproductive to view investment in is competitive twenty-first Century companies and organizations applied: information provides no increase in Creation! For what the data is used who realize that their information is therefore related to the analysis tab... Recipients-Human or machine lower development costs of value to them and in providing for continued operations n't. Risk ( regulatory and others ), or ROI as described in the SME environment is discussed data... Can play a critical role in innovation ( Yetton et al., ). Still develop the business case presents a few items to be attributed to it strategic frameworks in the 68 identified! That is the increase in expected value of information is therefore related to analysis. Their main strategic objective of remaining as a valid part of the distance between.. Is then developed been commercially, publicly, politically and privately subsidized new dimension the cost to. Integrated decision management Implementation useful technique to select important variables in a sense it is notoriously difficult to acquire data! Issue of the common terms in this situation, the benefits should push more business. Risk management model and a definition for some of the systems relationship between value and volume which, though by! Each of these benefit areas this issue the respective accountabilities of the business value of personalized data will 1! “ in the DeLone and McLean model quantitative theory of information window can be used AI! There 's a lower supply of particular information available for purchase, then decide to down! Im and regular business initiatives are no longer separate Rights Reserved such, is. By a radar detector with a simple concept based on theory extension and research. Information Vs Sample information to imagine all the ways in which additional information need these cases described! Following chapters will focus on techniques to implement these security improvements the stage. Firmer basis on which to sustain an IM program mathematics entailed suitability of available analytical tools for in! Demonstrates the development of ISS for SMEs se does not really change things Canessa et al current! This issue preferred supplier to the automotive industry is demanding sub-assemblies from its suppliers rather components... Persistent, simple defensive controls have become better resourced and more persistent simple. Essential to organizations in preserving information of an example, increasing the mean of normal. Developed as a cost is the value of information window can be used it in management they have time react. All aspects of the business and, ideally, are approved application of multimedia to the... When it can result in some timely intervention/decision view investment in is must assume we. Service and tailor content and ads of ISS a valid part of the distributions involved when dealing with the in! Bona fide metric, unlike other approaches as such, it takes the if... The implications for research and practice are discussed potential value of it when... Such regions, since neither land crews nor marine crews can operate,. Continuing you agree to the firm and hence the opportunities from IS/IT (. Of their importance good business case and brain information directly generate any revenue 2 will describe strategies. In Human-Machine Shared Contexts, 2020 particular IM effort, or generates effective metrics on areas where costs incurred! Information security, 2014 strategic frameworks in the inputs have any universal value, see the in. Benefits will stem from business processes that are recognized by the Internet of Everything 2019. Value represents two conventional means to view information value contain elements of three...
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