The Components of Information

The purpose of this paper is to lay out a quick and meaningful classification of information, useful to the operating manager. Information can be defined as everything that is communicated, but my focus is on that portion of information that has value for the businessman. It has been noted that presently over 25% of the GNP is absorbed in the production, processing and distribution of information (Salop, p. 240). The data for this paper, found in the appendix, consisted of a list of over 80 adjectives, describing various aspects of information. These were boiled down to ten key descriptors, which were in turn divided into two major divisions. The method used to boil the list down was, of course, a priori, or perhaps more accurately, eyeballing and, hopefully, meditation.