An information source value is perceived differently by different agents. In this paper, we present a new knowledge representation structure, termed as soft information set (SIS), to provide a parameterized representation of the information values, as perceived by an agent. The properties of SIS are investigated and the notion of relations in SIS is devised. The significance of the proposed SIS in aiding multi criteria decision making is illustrated through real case-studies. © 2019 Wiley Periodicals, Inc.