IS 1101 Lecture 01: Intro to Information Systems

• IS 1101, Lecture 01 is an introduction to the fundamentals of Information Systems (IS).
• Presented by P.K.D.K. Kaushalya.

Introduction to IS

• Information Systems are utilized across various roles:
  • Sales Representatives
  • Managers
  • Executives
  • Financial advisors
  • Educators
  • Potentially many others

Information Systems (IS) Definition

• An information system comprises interrelated components for collecting, manipulating, and disseminating data and information, and provides feedback to meet objectives.
• Information systems support decision-making and control within organizations.
• They are crucial for achieving career goals.
• Businesses leverage information systems to boost revenue and cut costs.

Information Concepts - Data

• Data refers to raw facts and figures.
• It is a collection of facts such as values and measurements.
• Data can be numbers, words, measurements, observations, or descriptions.
• Data is categorized into:
  • Qualitative Data: descriptive data that describes something
  • Quantitative Data: numerical information or numbers
• Quantitative data types:
  • Discrete
  • Continuous

Types of Data

• Numbers
• Text
• Pictures
• Sound
• Video

Information

• Information is a collection of facts organized to provide additional value beyond the raw facts themselves.
• Information is a valuable resource within organizations.
• It is often mistaken for data.

Data vs Information

• Data
  • Raw facts.
  • Lacks context
  • Can be any type such as numbers and text
• Information
  • Data with context.
  • Processed data.
  • Organized, summarized, and analyzed.
  • Adds value to the original data.

Characteristics of Information

• Accessible: Easily obtainable by authorized users in the correct format when needed.
• Accurate: Error-free.
• Complete: Contains all important facts.
• Economical: Cost-effective to produce.
• Flexible: Can be used for various purposes.
• Relevant: Important to the decision-maker.
• Reliable: Can be trusted.
• Secure: Protected from unauthorized access.
• Simple: Not overly complex, avoiding information overload.
• Timely: Delivered when needed.
• Verifiable: Accuracy can be checked.

Value of Information

• The value of information is directly linked to aiding decision-makers in achieving organizational goals.
• It can be measured by time saved in making decisions and increased company profits.

Cost of Information

• Information is never free.
• Main costs include:
  • Hardware: Original, replacement, and maintenance costs.
  • Software: Licenses, upgrades, and support.
  • Consumables: Papers, toners, cartridges.
  • Manpower: Labor and training costs.

Knowledge

• Turning data into information involves a process with logically related tasks to achieve a defined outcome and requiring knowledge.
• Knowledge is the understanding and awareness of information that enables task support or decision-making.

Wisdom

• Wisdom denotes the capacity to understand and perceive ideas and concepts from the use of knowledge for future applications.
• It involves grasping the ultimate goal or concept derived from knowledge applicable in future scenarios.
• It is using experience and good judgment coupled with being sensible of the facts

DIKW Pyramid.

• This represents interrelationships
• Data: Foundation level, raw facts
• Information. Contextualized data
• Knowledge: Applying understanding to information
• Wisdom: Highest level, applying knowledge thoughtfully