Cost of Information

 Cost of Infomation 

Main Components of Information Cost:

1. Collection Cost – Expense of gathering raw data.
   Example: Surveys, forms, data entry, etc.*

2. Processing Cost – Cost of converting raw data into useful information.
   Example: Using computers, software, and human effort.*

3. Storage Cost – Expense of keeping data safe for future use.
   Example: Hard drives, cloud storage, data centers.*

4. Transmission Cost – Cost of sharing information between users or systems.
   Example: Internet charges, networking devices.*

5. Security Cost – Cost to protect information from unauthorized access or loss.
   Example: Antivirus, firewalls, backup systems.*

6. Maintenance Cost – Expense to update and maintain information systems.
   Example: Software updates, technical support.*

7. Hardware cost - This is normally a fixed or one time cost over a relvent range. in Case of compute rbased information system,with the develpment in technology - hardware costs are coming down drastically.

8. System analysis design and implemenation cost -  This is also a one time cost. This function includes formulating a methodology for overall electronic data procssing procedure. This should include the cost for preparation of progrms and purchase of software. 

9. Cost for space and environmental control factors : This is cost may vary from time to time. Examples of this cost are floor space are conditioning power congrol units, generator, sequrity