Cost of information ( Paul Cooper)

Information incurs costs in many different ways:

Data collection is data colected directly. Companies who want to respond to requests for information often have to ooffer prizes to guarantee adequate responses.

Data entry is data which is keyed in, this takes time and a person has to be payed to do it. there are automatic processes to enter data, however these still need people to operate the systems.

Data processing this is processing the inputted data. this requires hardware and software resources. large scale processing could take up large parts of the companies ICT resources.