DATA AND INFORMATION

Data-Data is the raw materials from which

information is generated. -Data are raw facts or observations typically

about physical phenomena or business transactions. -It appears in the form of text, number, figures or

any combination of these. -such as people, places, things and events)

InformationWhen we process data and convert into a form that is useful and meaningful to the decision maker, it becomes information.

DATA VS. INFORMATIONData raw facts no context just numbers and text

Information data with context processed data value-added to data

summarized organized analyzed

DATA VS. INFORMATION Data: 51007 Information:

5/10/07 The date of your final exam. $51,007 The average starting salary of an

accounting major. 51007 Zip code of a document.

DATA VS. INFORMATION

Data 6.34 6.45 6.39 6.62 6.57 6.64 6.71 6.82 7.12 7.06

SIRIUS SATELLITE RADIO INC.

$5.80

$6.00

$6.20

$6.40

$6.60

$6.80

$7.00

$7.20

1 2 3 4 5 6 7 8 9 10

Last 10 Days

Stoc

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Information

DATA INFORMATION KNOWLEDGEData

Information

Summarizing the dataAveraging the dataSelecting part of the dataGraphing the dataAdding contextAdding value

DATA INFORMATION KNOWLEDGEInformation

Knowledge

How is the info tied to outcomes?Are there any patterns in the info?What info is relevant to the problem?How does this info effect the system?What is the best way to use the info?How can we add more value to the info?

According to James O’Brien-Information can be defined as data that has been converted into a meaningful and useful context for specific end users. Information is usually subjected to a “value-added” process where-

Its form is aggregated, manipulated and organized.

Its content is analyzed and evaluated, and It is placed in a proper context for a human user.

So, we should view information as processed data placed in a context that gives it value for specific end users. Data Information

Tk. 35,000 12 units Tk. 12,000 Md. Rahim

Rajshahi Region

Tk.100,000 135 units

Data Processing

Sales Person: Md. Rahim Sales Territory: Rajshahi Region Current Sales: 147 units

Tk. 1,47,000

Figure 2.1: An Example of Data and Information

Differences between Data and Information

Data Information a. We can define data as “Streams of raw facts

representing events occurring in organizations or the physical environment before they have been organized and arranged into a form that people can understand and use”.

Information can be defined as data that has been converted into a meaningful and useful context for specific end users.

b. Data appears in the form of text, numbers, figures, audio, video, images or any combination of these

After process data into a meaningful form, then data becomes information.

c. Data may not be useful to the decision maker and data must be processed to become useful.

Decision makers use information to make decision.

d. All data may not become information, because not all data or facts can be relevant at a given moment.

All Information must be based on factual data, but only data that are relevant to the situation are information.

e. There are many ways to collected data, i.e. surveys, interviews, the use of sensors, the reading of documents and even the monitoring of the brain waves.

Human beings apply facts, principle, knowledge, experience and situation to convert data in to information.

f. We can compare data as a raw material to produce information.

We can compare information as finished goods.

g. Data expresses in disorganized and inconsistent way.

Information expresses as an organized and arranged way.

QUALITIES OF A GOOD INFORMATIONGood information has three dimensions of its characteristics or attributes:•Time Dimension•Content Dimension, and•Form Dimension

1.The Time Dimension

Timeliness

: Information should be provided when it is needed

Currency

: Information should be up-to-date when it is provided

Frequency

: Information should be provided as often as needed

Time Period

: Information can be provided about past, present and future time periods.

Accuracy : Information should be free from errors.Relevance : Information should be related to the information

needs of a specific recipient for a specific situation.Completeness

: All the information that is needed should be provided.

Conciseness

: Only the information that is needed should be provided

Scope : Information can have a broad or narrow scope, or an internal or external focus.

Performance

: Information can reveal performance by measuring activities accomplished, progress made, or resources accumulated.

•The Content Dimension

Clarity : Information should be provided in a form that is easy to understand.

Detail : Information can be provided in detail or summary form.

Order : Information can be arranged in a predetermined sequence.

Presentation

: Information can be presented in narrative, numeric, graphic, or other forms.

Media : Information can be provided in the form of printed-paper documents, video displays, or other media.

•The Form Dimension

THE PROCESS OF CONVERTING DATA INTO INFORMATION

The process of converting data into information may include the following process:

Collection Classification Sorting, adding, merging, and so on Summarizing Storing Retrieval (Recovery) Dissemination (Distribution)Depending on the task at hand, some or all of the above steps may be required to convert data into information. Let us look at each of these steps.

Customers

Suppliers

Business units

Functional departments

Competitors

Others

Data Collection

Classify

Duplicate

Retrieve

Store

Process

Sort

Disseminate

Decision Maker 1

Decision Maker 2

Goals and Mission

ACTION

Decision Maker 3

Figure 2.2: Figures show how data is collected and processed before it becomes information

Questions?