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Today, in the age of information technology, the computer systems have developed so rapidly and revolved the organizational decision making process. The efficiency and
effectiveness in the organizations, quality improvement and technical changes, have hence, followed. Many of the developing countries have thus turned to employ information systems towards
modernization. Therefore, a better recognition of information and its role in decision making, can serve the managers and
information service holders towards an optimized approach. This paper undertakes the task by defining information concepts, cycle, value, characteristics, classification and its varieties.