Podcast
Questions and Answers
What is the key difference between data and information according to the text?
What is the key difference between data and information according to the text?
Which characteristic of information is associated with top management decision-making according to the text?
Which characteristic of information is associated with top management decision-making according to the text?
What is the primary source of information for middle management according to the text?
What is the primary source of information for middle management according to the text?
Which skill does the text suggest managers need for IT decision-making?
Which skill does the text suggest managers need for IT decision-making?
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Which characteristic of information is associated with a longer time horizon?
Which characteristic of information is associated with a longer time horizon?
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What assumption about the nature of information does the text suggest?
What assumption about the nature of information does the text suggest?
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What can result from poor spending in an organization?
What can result from poor spending in an organization?
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What is a consequence of failing to consider IS strategy?
What is a consequence of failing to consider IS strategy?
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Which of the following is NOT listed as a skill managers need for IT decisions?
Which of the following is NOT listed as a skill managers need for IT decisions?
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What is the relationship between data and information?
What is the relationship between data and information?
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Which of the following can result from inefficient business processes?
Which of the following can result from inefficient business processes?
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What can misalignment between business goals and organizational systems lead to?
What can misalignment between business goals and organizational systems lead to?
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What is a key difference between things and information according to the text?
What is a key difference between things and information according to the text?
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Which of the following is NOT a characteristic of information according to the text?
Which of the following is NOT a characteristic of information according to the text?
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What is the key difference between information technology (IT) and information systems (IS) according to the text?
What is the key difference between information technology (IT) and information systems (IS) according to the text?
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What skills do managers need to make effective strategic business decisions concerning information systems?
What skills do managers need to make effective strategic business decisions concerning information systems?
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Which of the following is a key assumption about the nature of information according to the text?
Which of the following is a key assumption about the nature of information according to the text?
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Study Notes
Data, Information, and Knowledge
- Data: simple observations about the world, endowed with relevance and purpose
- Information: data that has been processed and endowed with human mediation, characteristics include:
- Easily structured
- Often quantified
- Easily transferred
- Mere facts
- Knowledge: information from the human mind, includes reflection, synthesis, and context, characteristics include:
- Hard to structure
- Difficult to capture on machines
- Often tacit
- Hard to transfer
Characteristics of Information Across Levels
- Top Management:
- Time Horizon: long (years)
- Level of Detail: highly aggregated, less accurate, more predictive, summarized, integrated, often financial
- Decision Making: extremely judgmental, uses creativity and analytical skills
- Middle Management:
- Time Horizon: medium (weeks, months, years)
- Level of Detail: less aggregated, more accurate, less predictive
- Decision Making: relatively judgmental
Failing to Consider IS Strategy
- Leads to:
- IS that fail to support business goals
- IS that fail to support organizational systems
- Misalignment between business goals and organizational systems
- Consequences:
- Breakdown in servicing customers
- Sales decline
- Damaged reputation
- Poor spending (overspending or underspending)
- Inefficient business processes
Skills Managers Need for IT Decisions
- Visionary role
- Structural
- Creativity
- Curiosity
- Confidence
- Focus on business solutions
- Flexibility
- Informational and Interpersonal
- Project management
- Analytical
- Organizational Planning
- Leading
- Controlling
- Communication
- Listening
- Information gathering
- Interpersonal skills
Economics of Information vs Things
- Information:
- Doesn't wear out but can become obsolete or untrue
- Is replicated at almost zero cost without limit
- Does not physically exist
- When sold, seller may still possess and sell again
- Price based on value to consumer
- Things:
- Wear out
- Are replicated at the expense of the manufacturer
- Exist in a tangible location
- When sold, possession changes hands
- Price based on production costs
The Term “Information Systems”
- Composed of:
- Technology
- People
- Processes
- Information
- IT refers to just the technology, while Information Systems include all four components
- Digital natives: people born or brought up during the age of digital technology and internet.
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Description
Test your knowledge on the definitions, characteristics, and examples of data, information, and knowledge. Explore how data is transformed into information and knowledge through human mediation. Reflect on the distinctions between mere facts and processed data.
