Welcome to MIM Online Information Industries Class. This blog will enable us appreciate ICT and server as a platform to explore one aspect of web 2.0. Please let us keep our discussion focus on the topics and assignment given.
FREE, FEE-BASED AND VALUE-ADDED INFORMATION SERVICES
Information is a necessary requirement in any business organization, for making good decisions that will enhance achieving the desired goals of an organization. Today, the World Wide Web is a relevant information base, containing a large amount of information relevant and irrelevant depending in on users needs. Research interviews have shown that millions of dollars are spent in trying to acquire information. Large sums of money are spent in trying to acquire this information which is not likely to be relevant due to the method used in searching for the information. Different websites that supply information make it available in different methods. Three types of information service providers are available on the internet e.g, the free information Web sites, Fee-Based Web sites and the Value-Added Information Services. The free web sites have available information but lack archives. Seeking information here takes so much time considering the various amount of relevant and irrelevant information. The fee based web sites request for fees before resources can be harnessed from such sites. The value added information services also offer current and up to date information. The availability of archives makes this site better than the other two. In trying to get online information regarding an organization, it usually takes time simply because there is so much reference to go through. One query leads to 100’s of other keywords. Sometimes frustration sets in since the user is not likely to find what he/she is looking for. From researches conducted, the information that business people need is not actually on the free web e.g 81% of available information on the free web have no archives. High quality business information is not available on the free web and any manager depending on such information on the free web puts his or her enterprise at risk. Going online to source for information is due to the fact good decisions must be made. In most cases information gotten from the web are usually applied in decision making. Comparisons have been made of the three methods of acquiring information from the web and the value-added services have been seen to produce the most adequate of information. A good example of a value- added service provider is the Factiva value-added information services. This online service provider gives effective answers to question that bother major business enterprises in a manner that saves cost and time. This service provider has a primary purpose of supplying information. Engaging their services helps users to make decisions that are more informed, intelligent, reliable, efficient, rich, comprehensive that can easily be customized to bring solutions in any enterprise.
REFERENCE
Free, Fee-Based and Value-Added Information Services. Contributions from Mary Ellen Bates. Edited by Donna Anderson, April 2002.
DAVID AKANDE MIM/EDUC/17671/2007-2008
CRITIQUE
Nigeria is still a traditional society where technology is yet to be fuuly embraced and the use of INTERNET facilities is still not considered as very vital in making business decisions. A number of problems are not likely to make the use of researching for ONLINE resources possible e.g
1. The unavailability of internet facilities is first and foremost a major problem in using internet resources.
2. Connecting to the internet could be very slow which tends to discourage users.
3. Power failure is a factor that discourages informed user organizations from using these facilities.
4. Most people still see the use of internet facilities as a means of sending only mails, chatting and even a fashion that will soon fade away.
5. Inadequate knowledge of relevant information service providers.
6. Inadequate funding in some organizations which may enable them engage the services of consultants in problem-solving.
DAVID AKANDE MIM/EDUC/17671/2007-2008
THE ECONOMIC VALUE OF INFORMATION
Information is valuable to any individual, organization and institution. In order to understand how to value information, the meaning of the word value must be understood. Value could mean use, material worth, or a commodity that has a price. 1. In terms of use, information is valuable because of the content of knowledge which the recipient feels it has. The value of information here only considers it use and not the exchange required to pay for the information.
2. In considering the material worth of information, the number of users comes into consideration. It has been observed that there has been an increase of information users over the years. People engaged in generating information have considerably increased and an increase in revenue has also been observed.
3. In terms of commodity, most electronic information commodities have to be purchased. Information has been viewed as a unique commodity which cannot be consumed. Information that has been used by one particular user can be sold over and over again to different individuals. Price is an accepted measure of value and a reliable indicator of exchange is used to rate the value of information.
Information should not only be valued in terms of those using it, or the amount of people providing it but should be valued based on the cost implication i.e money paid to get information that can reliably bring about a solution to a problem.
DAVID AKANDE MIM/EDUC/17671/2007-2008
CRITIQUE
1. People pay for information commodities in Nigeria. For example, the use of computers and other software has increased over the years.
2. The amount of people seeking for information online is also on the increase but for the fact that most users don’t know how to seek for the correct and reliable information.
3. Even if information generates revenue for the country, the percentage would be very small.
4. I also want to agree that relevant information should be paid for.
1. Free-based web sites are free but are not working property in Nigeria as a result poor infrastructure 2. Free based websites lack standardization and it is impossible to aggregate searches; hence researchers go from site to site looking for information and may not achieve result at the end of the day, thereby wasting their precious time. 3. Free web sites do not offer substantial archives of information and our research need may be current or retrospective. 4. Fee based websites charge fees to access information, but Nigerians are living below poverty level, struggling to eat and meet up with basic necessities of life and not access to information 5. Researchers are required to pay electronically in fee based website by using their credit card and we have not developed to the level of using credit cards to settle payments in Nigeria and most of the fee based websites do not offer the ability to pay by purchase order. 6. Fee based websites offer high value information which are not available on free based websites, but Nigerian are ignorant of value added information service. 7. Fee based websites have pre formatted materials collections and usually provide archive of materials dating back to a year or more but are limited in focus. 8. Valued added business information services offer high quality information from a wide variety of sources. 9. Value added business information services have extensive archives of information. 10. Value added business information offer powerful tools that enable researchers to search hundreds of sources of current and archives simultaneously.
1. Free-based web sites are free but are not working property in Nigeria as a result poor infrastructure 2. Free based websites lack standardization and it is impossible to aggregate searches; hence researchers go from site to site looking for information and may not achieve result at the end of the day, thereby wasting their precious time. 3. Free web sites do not offer substantial archives of information and our research need may be current or retrospective. 4. Fee based websites charge fees to access information, but Nigerians are living below poverty level, struggling to eat and meet up with basic necessities of life and not access to information 5. Researchers are required to pay electronically in fee based website by using their credit card and we have not developed to the level of using credit cards to settle payments in Nigeria and most of the fee based websites do not offer the ability to pay by purchase order. 6. Fee based websites offer high value information which are not available on free based websites, but Nigerian are ignorant of value added information service. 7. Fee based websites have pre formatted materials collections and usually provide archive of materials dating back to a year or more but are limited in focus. 8. Valued added business information services offer high quality information from a wide variety of sources. 9. Value added business information services have extensive archives of information. 10. Value added business information offer powerful tools that enable researchers to search hundreds of sources of current and archives simultaneously.
1. Free websites usually do not offer substantial archives of information 2. The advantage of free based websites over free websites is that it offer high-valued information. 3. The advantage of free websites is that its free access to information. 4. A drawback of fee-based websites is that they encourage adhoc purchases of information. 5. Value added information services offer high quality information than free and fee based websites. 6. Value added information services may be expensive for an ordinary Nigerian seeking for high quality of information. 7. Value added information services enables business to make informed and effective decisions. 8. The only way to download an article from fee based sites is to submit a credit card number. 9. Much of the information business people want and need is not available on free websites. 10. Any manager making decisions based only on information that is publicly available on the web may be putting his or her enterprise at risk SHADRACH WETSAM. MIM/EDU/10172/2007-2008
ECONOMIC VALUE OF INFORMATION 1. There are no accepted standard ways of approaching the value of information. 2. People attach different values to information. 3. Value of information denotes solely an expression of how useful it is to the recipient. 4. Informational value is relative to utility of decision maker. The utility which recipient feels information has is the value he/she attaches to it. 5. Information is an unusual kind of economic good. It is not bought and sold in stores like apples, cars, or DVD players, mainly because people can easily share or replicate information. 6. Information has economic value because it allows individuals to make choices that yield higher expected result or expected utility than they would obtain from choices made in the absence of information. 7. With accurate information, individuals can make sound decisions that allow them to adjust their actions to the situation at hand. Criticism 1. Markets do not always create and disseminate information as efficiently as other kinds of goods and services because it is hard for businesses to control access and charge all users. 2. Not all information has utility in some context 3. Information comes from many sources, but the value of publicly provided information is often underestimated. Solution The government can step in and provide information, like other economic goods that private markets do not provide.
David, David as much as I agree with the challenges you have highlighted. What do you then when all secondary school students have to register for NECO, WAEC, JAMB online. To apply for any job in Nigeria you must do so online, even the jobs in federal government agencies like Custom, CBN, etc are making that a requirement too.
THE ECONOMIC VALUE OF INFORMATION Information is a precious valuable tool to both private and public sector. Any individual or governmental organization in trying to achieve its aims and objectives needs information. Good information leads to good decision making when it is properly used. Information becomes worthy or a commodity that brings economic value, awareness to the society.
Because of the value of information to the society, the world move from its early stage of oral tradition into digital age through globalization of information, starting from the developed countries, leaving behind the third world countries practicing to reach that level of development. The value of information can be seen in terms of use, material worth, or a commodity that require a price. 1. In terms of use, the value of information denotes solely an expression of how “useful” it is to the recipient. Information value is relative to utility to a decision maker. Information value is to be determine solely by the utility which the recipient feel he has. 2. The material worthy of information generated a tremendous number of users which must be put into due consideration. This has helped to increase in economic value of government and individual. 3. As a commodity, information in electronic devices can be sold or purchased in a market place. Many form of electronic information are commodities. Information has been viewed as a unique commodity in that information is not consumed in its use and thus can be exchanged as well as used many times. 4. People who have money purchase information commodities in the country, for example, software packages, computer network services etc.
Critique
1. Because of the value of information, people spend lots of money to obtain them. 2. In seeking for information, people take the risk of travelling far and wide in search of it. 3. Some information providers do not provide adequate information to users.
SHADRACH CHRISTOPHER WETSAM. MIM/EDU/10172/2007-2008
free fee-based and value added information services-due they work in Nigeria? These information services are not effectively utalised in Nigeria due to various inconsistencies and irregularities in our national polices .This led to mishandling in adquate ssupply of technologically advanced information facilities like computer network facilities .Another issue is lack of internet awarenes by most Nigerians, and this precipetate cyber phobiac attitude . More over, information inertia makes it very difficult to enable these services operate successfully, becouse reseachers and organisations rely on manual, local and non on-line information sources which do not require any extra specialisationand skills in accessing them.
FREE,FEEBASED AND VALUE ADDED INFORMATION SERVICES-DO THEY WORK IN NIGERIA? These information services are not effectively utilised in Nigeria due to various inconsistencies and irregularities in our national policies.This led to the inappropriate handling of the technologically advanced information facilities like computer network facilities.Another issue is lack of internet awareness by most Nigerians,this precipitate cyberphobiac attitude.More over,information inertia makes it very difficult to enable these services operate succesfully,becouse most organisations and Nigerians reseachers prefer local, manual and non online information sources which do not require any extra specialisation and skills in accessing them DANBABALE AMINU MIM/EDUC/11763/2007-08
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FREE, FEE-BASED AND VALUE-ADDED INFORMATION SERVICES
Information is a necessary requirement in any business organization, for making good decisions that will enhance achieving the desired goals of an organization.
Today, the World Wide Web is a relevant information base, containing a large amount of information relevant and irrelevant depending in on users needs.
Research interviews have shown that millions of dollars are spent in trying to acquire information. Large sums of money are spent in trying to acquire this information which is not likely to be relevant due to the method used in searching for the information.
Different websites that supply information make it available in different methods. Three types of information service providers are available on the internet e.g, the free information Web sites, Fee-Based Web sites and the Value-Added Information Services.
The free web sites have available information but lack archives. Seeking information here takes so much time considering the various amount of relevant and irrelevant information.
The fee based web sites request for fees before resources can be harnessed from such sites.
The value added information services also offer current and up to date information. The availability of archives makes this site better than the other two.
In trying to get online information regarding an organization, it usually takes time simply because there is so much reference to go through. One query leads to 100’s of other keywords. Sometimes frustration sets in since the user is not likely to find what he/she is looking for.
From researches conducted, the information that business people need is not actually on the free web e.g 81% of available information on the free web have no archives. High quality business information is not available on the free web and any manager depending on such information on the free web puts his or her enterprise at risk.
Going online to source for information is due to the fact good decisions must be made. In most cases information gotten from the web are usually applied in decision making.
Comparisons have been made of the three methods of acquiring information from the web and the value-added services have been seen to produce the most adequate of information.
A good example of a value- added service provider is the Factiva value-added information services. This online service provider gives effective answers to question that bother major business enterprises in a manner that saves cost and time. This service provider has a primary purpose of supplying information. Engaging their services helps users to make decisions that are more informed, intelligent, reliable, efficient, rich, comprehensive that can easily be customized to bring solutions in any enterprise.
REFERENCE
Free, Fee-Based and Value-Added Information Services. Contributions from Mary Ellen Bates. Edited by Donna Anderson, April 2002.
DAVID AKANDE
MIM/EDUC/17671/2007-2008
CRITIQUE
Nigeria is still a traditional society where technology is yet to be fuuly embraced and the use of INTERNET facilities is still not considered as very vital in making business decisions. A number of problems are not likely to make the use of researching for ONLINE resources possible e.g
1. The unavailability of internet facilities is first and foremost a major problem in using internet resources.
2. Connecting to the internet could be very slow which tends to discourage users.
3. Power failure is a factor that discourages informed user organizations from using these facilities.
4. Most people still see the use of internet facilities as a means of sending only mails, chatting and even a fashion that will soon fade away.
5. Inadequate knowledge of relevant information service providers.
6. Inadequate funding in some organizations which may enable them engage the services of consultants in problem-solving.
DAVID AKANDE
MIM/EDUC/17671/2007-2008
THE ECONOMIC VALUE OF INFORMATION
Information is valuable to any individual, organization and institution. In order to understand how to value information, the meaning of the word value must be understood.
Value could mean use, material worth, or a commodity that has a price.
1. In terms of use, information is valuable because of the content of knowledge which the recipient feels it has. The value of information here only considers it use and not the exchange required to pay for the information.
2. In considering the material worth of information, the number of users comes into consideration. It has been observed that there has been an increase of information users over the years. People engaged in generating information have considerably increased and an increase in revenue has also been observed.
3. In terms of commodity, most electronic information commodities have to be purchased. Information has been viewed as a unique commodity which cannot be consumed. Information that has been used by one particular user can be sold over and over again to different individuals. Price is an accepted measure of value and a reliable indicator of exchange is used to rate the value of information.
Information should not only be valued in terms of those using it, or the amount of people providing it but should be valued based on the cost implication i.e money paid to get information that can reliably bring about a solution to a problem.
DAVID AKANDE
MIM/EDUC/17671/2007-2008
CRITIQUE
1. People pay for information commodities in Nigeria. For example, the use of computers and other software has increased over the years.
2. The amount of people seeking for information online is also on the increase but for the fact that most users don’t know how to seek for the correct and reliable information.
3. Even if information generates revenue for the country, the percentage would be very small.
4. I also want to agree that relevant information should be paid for.
DAVID AKANDE
MIM/EDUC/17671/2007-2008
1. Free-based web sites are free but are not working property in Nigeria as a result poor infrastructure
2. Free based websites lack standardization and it is impossible to aggregate searches; hence researchers go from site to site looking for information and may not achieve result at the end of the day, thereby wasting their precious time.
3. Free web sites do not offer substantial archives of information and our research need may be current or retrospective.
4. Fee based websites charge fees to access information, but Nigerians are living below poverty level, struggling to eat and meet up with basic necessities of life and not access to information
5. Researchers are required to pay electronically in fee based website by using their credit card and we have not developed to the level of using credit cards to settle payments in Nigeria and most of the fee based websites do not offer the ability to pay by purchase order.
6. Fee based websites offer high value information which are not available on free based websites, but Nigerian are ignorant of value added information service.
7. Fee based websites have pre formatted materials collections and usually provide archive of materials dating back to a year or more but are limited in focus.
8. Valued added business information services offer high quality information from a wide variety of sources.
9. Value added business information services have extensive archives of information.
10. Value added business information offer powerful tools that enable researchers to search hundreds of sources of current and archives simultaneously.
Henry Nwagboso
MIM/EDU/16508/2007/2008
1. Free-based web sites are free but are not working property in Nigeria as a result poor infrastructure
2. Free based websites lack standardization and it is impossible to aggregate searches; hence researchers go from site to site looking for information and may not achieve result at the end of the day, thereby wasting their precious time.
3. Free web sites do not offer substantial archives of information and our research need may be current or retrospective.
4. Fee based websites charge fees to access information, but Nigerians are living below poverty level, struggling to eat and meet up with basic necessities of life and not access to information
5. Researchers are required to pay electronically in fee based website by using their credit card and we have not developed to the level of using credit cards to settle payments in Nigeria and most of the fee based websites do not offer the ability to pay by purchase order.
6. Fee based websites offer high value information which are not available on free based websites, but Nigerian are ignorant of value added information service.
7. Fee based websites have pre formatted materials collections and usually provide archive of materials dating back to a year or more but are limited in focus.
8. Valued added business information services offer high quality information from a wide variety of sources.
9. Value added business information services have extensive archives of information.
10. Value added business information offer powerful tools that enable researchers to search hundreds of sources of current and archives simultaneously.
MIM/EDU/16508/2007/2008
1. Free websites usually do not offer substantial archives of information
2. The advantage of free based websites over free websites is that it offer high-valued information.
3. The advantage of free websites is that its free access to information.
4. A drawback of fee-based websites is that they encourage adhoc purchases of information.
5. Value added information services offer high quality information than free and fee based websites.
6. Value added information services may be expensive for an ordinary Nigerian seeking for high quality of information.
7. Value added information services enables business to make informed and effective decisions.
8. The only way to download an article from fee based sites is to submit a credit card number.
9. Much of the information business people want and need is not available on free websites.
10. Any manager making decisions based only on information that is publicly available on the web may be putting his or her enterprise at risk
SHADRACH WETSAM.
MIM/EDU/10172/2007-2008
ECONOMIC VALUE OF INFORMATION
1. There are no accepted standard ways of approaching the value of information.
2. People attach different values to information.
3. Value of information denotes solely an expression of how useful it is to the recipient.
4. Informational value is relative to utility of decision maker. The utility which recipient feels information has is the value he/she attaches to it.
5. Information is an unusual kind of economic good. It is not bought and sold in stores like apples, cars, or DVD players, mainly because people can easily share or replicate information.
6. Information has economic value because it allows individuals to make choices that yield higher expected result or expected utility than they would obtain from choices made in the absence of information.
7. With accurate information, individuals can make sound decisions that allow them to adjust their actions to the situation at hand.
Criticism
1. Markets do not always create and disseminate information as efficiently as other kinds of goods and services because it is hard for businesses to control access and charge all users.
2. Not all information has utility in some context
3. Information comes from many sources, but the value of publicly provided information is often underestimated.
Solution
The government can step in and provide information, like other economic goods that private markets do not provide.
Henry Nwagboso
MIM/EDU/16508/2007/2008
David, David as much as I agree with the challenges you have highlighted. What do you then when all secondary school students have to register for NECO, WAEC, JAMB online. To apply for any job in Nigeria you must do so online, even the jobs in federal government agencies like Custom, CBN, etc are making that a requirement too.
THE ECONOMIC VALUE OF INFORMATION
Information is a precious valuable tool to both private and public sector. Any individual or governmental organization in trying to achieve its aims and objectives needs information. Good information leads to good decision making when it is properly used. Information becomes worthy or a commodity that brings economic value, awareness to the society.
Because of the value of information to the society, the world move from its early stage of oral tradition into digital age through globalization of information, starting from the developed countries, leaving behind the third world countries practicing to reach that level of development.
The value of information can be seen in terms of use, material worth, or a commodity that require a price.
1. In terms of use, the value of information denotes solely an expression of how “useful” it is to the recipient. Information value is relative to utility to a decision maker. Information value is to be determine solely by the utility which the recipient feel he has.
2. The material worthy of information generated a tremendous number of users which must be put into due consideration. This has helped to increase in economic value of government and individual.
3. As a commodity, information in electronic devices can be sold or purchased in a market place. Many form of electronic information are commodities. Information has been viewed as a unique commodity in that information is not consumed in its use and thus can be exchanged as well as used many times.
4. People who have money purchase information commodities in the country, for example, software packages, computer network services etc.
Critique
1. Because of the value of information, people spend lots of money to obtain them.
2. In seeking for information, people take the risk of travelling far and wide in search of it.
3. Some information providers do not provide adequate information to users.
SHADRACH CHRISTOPHER WETSAM.
MIM/EDU/10172/2007-2008
free fee-based and value added information services-due they work in Nigeria? These information services are not effectively utalised in Nigeria due to various inconsistencies and irregularities in our national polices .This led to mishandling in adquate ssupply of technologically advanced information facilities like computer network facilities .Another issue is lack of internet awarenes by most Nigerians, and this precipetate cyber phobiac attitude . More over, information inertia makes it very difficult to enable these services operate successfully, becouse reseachers and organisations rely on manual, local and non on-line information sources which do not require any extra specialisationand skills in accessing them.
DANBABALE AMINU
MIM/EDUC/11763/2007-08
FREE,FEEBASED AND VALUE ADDED INFORMATION SERVICES-DO THEY
WORK IN NIGERIA?
These information services are not effectively utilised in Nigeria due to various inconsistencies and irregularities in our national policies.This led to the inappropriate handling of the technologically advanced information facilities like computer network facilities.Another issue is lack of internet awareness by most Nigerians,this precipitate cyberphobiac attitude.More over,information inertia makes it very difficult to enable these services operate succesfully,becouse most organisations and Nigerians reseachers prefer local, manual and non online information sources which do not require any extra specialisation and skills in accessing them
DANBABALE AMINU
MIM/EDUC/11763/2007-08
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