10 Questions
What is the process of defining relationships among data to create useful information called?
Data modeling
Why is valuable information important for decision makers?
It improves task performance and efficiency
What percentage of an organization's customer contact data is estimated to be wrong on average?
22%
Which company provides services like credit services, marketing services, decision analytics, and consumer services?
Experian
What is fundamental to the quality of a decision?
The quality of the information used in the decision
What is the main difference between data and information?
Data is raw facts, while information is processed data that has additional value.
How can providing information to customers help companies increase revenues and profits?
It stimulates sales through the free exchange of information.
Using the grocery list analogy, how does arranging data in a certain way add value?
By organizing data using rules and relationships.
In the context of data and information, what does 'aggregated' mean?
Combining data into a summarized form.
How does the free exchange of information help ensure shoppers find better values?
By enabling them to share recommendations and make informed decisions.
Learn about the distinction between data and information, and how data can be transformed into valuable information. Explore examples of raw data and how it can be organized and processed for better insight and decision-making.
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