Data, Information, and Knowledge

Data consists of raw ______, such as an employee number

Information is a collection of data organized and processed for additional ______

Knowledge is the awareness and understanding of a set of ______

Valuable information helps decision makers achieve their ______ goals

Accessible information should be easily accessible by authorized ______

Complete information contains all the important ______

Decision makers must always balance the value of information with the cost of producing it. Information should be relatively ______ to produce.

Flexible information can be used for a variety of purposes. For example, information on how much inventory is on hand for a particular part can be used by a sales representative in closing a sale, by a production manager to determine whether more inventory is needed, and by a financial executive to determine the total value the company has invested in inventory. Information should be ______.

Relevant information is important to the decision maker. Information showing that lumber prices might drop might not be ______ to a computer chip manufacturer.

Reliable information can be trusted by users. In many cases, the reliability of the information depends on the reliability of the data-collection method. A rumor from an unknown source that oil prices might go up might not be ______.

Information should be secure from access by unauthorized users. Information should be ______, not complex.

Timely information is delivered when it is needed. Knowing last week's weather conditions will not help when trying to decide what coat to wear today. Information should be ______.