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Data, Information & Knowledge


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data
Business __________ theft involves stealing proprietary business INFORMATION such as research for a new drug or a list of customers that competitors are eager to acquire.
Information
Data converted into a meaningful and useful context
Knowledge
A blend of previous experience, insight, and data that forms organizational memory
The process of data to information to knowledge
01012014 and 31122014 are examples of random numbers so they have no meaning…
Encoding
reducing the size of data through the use of a code system, e.g. S, M, L, XL
Value Judgement
The decision that has to be made when the person in charge of the data input needs to make a decision on how to encode the data, e.g. 6 foot 1 inch being converted into M, L or XL
Managers
They need information to help them with the running of an organisation.
Responsible for:
Higher level management
Resources
Equipment needed within a system that is used to produce the output. Can be used over and over again without being used up.
up-to-date
A report showing out of stock items that was printed on Monday would not be useful after the delivery on Wednesday because it will no longer be __________ .
Accurate
Data needs to be __________ as errors can occur through using data that isn't. An example of this would be sending customers the wrong items, or misspelling the name of a customer or supplier
Complete
Data needs to be __________ as many problems can arise if it isn't. An example of this could be sending an incomplete order out because items had been left off the order
These are:
Costs of obtaining good quality information
Data acquisition
the process of sampling signals that measure real world physical conditions and converting the resulting samples into digital numeric values that can be manipulated by a computer.
Data Collection
The costs for this area include:
Processing and Maintenance
The costs for this area include:
Quality of Information
This is measured by:
Accuracy
'Credit card statements must have the correct rate of interest applied to the balance otherwise customers will complain and the card company could be prosecuted'.
Relevance
'A group has asked their record company for a breakdown of their royalties for all months over the last three years and the record company only gave them the total royalties for each year.…
Completeness
'A customer may ring up and order some goods and the sales person may say that they will be delivered the next day. The salesperson may say that they will be delivered the next …
Understandable
Data needs to be __________ as it needs to be interpreted in the way it is meant to. Tables and charts can help to make more detailed information clearer to read.
Targeted
Data that is well __________ will help to improve decision making. It means that managers will be able to use reports and diagrams that only show them the information they need to see so …
Confidence
There needs to be user __________ in the information. If a sales person is looking at the stock system and it is saying there are 5 of an item in stock when the sales pe…
On-line information sources
These can include Intranets and the internet
CD-ROMs
Information can be found using disks called __________ that contain the required information.
Non-ICT information sourced
These can include newspapers, journals, paper invoices, maps, letters, directories and manuals.