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Topic 1: Introduction to Making Sense of Information
Terms in this set (17)
What is a data item?
Elementary description of things, events, activities and transactions that are recorded, classified and stored but are not organised
to convey any specific meaning.
What is information?
Data organized so that they have meaning and value to the recipient. It can help us interpret whether the data is good or bad.
What is knowledge?
Information applied to some decision or action. Data and/or information organized and processed to convey understanding, experience, accumulated learning and expertise as they apply to a current problem or
What is Wisdom?
Using knowledge for the greater good, hence it is deeper and more uniquely human, as it requires a sense of good, bad, right and
wrong, ethical and unethical.
What is the importance of the DIKW Hierarchy?
1) For Connectedness and usefulness
2) For Cyclic process of elements
3) For good Information Systems
What is connectedness and usefulness?
The combining of bits of data to give the data some context and meaning, which then can be interpreted and applied (in other words, is used), leading to knowledge.
What is the Cyclic Process?
When we reach the Information/knowledge/wisdom level, we often realise we need more data and information.
What are Information Systems?
Gives us a way to think about different kinds of systems and how they have evolved. Data processing is simple, handling information is messier as it needs to be able to do ad‐ hoc queries to allow different views and combinations of data. Managing knowledge is messier still, and wisdom is debatable
as to whether it can be modelled using an IS because it is considered uniquely human.
Why does Information have to be managed?
We live in the digital age; today's information driven economy, we need to efficiently find, critically analyse and use reliable information to make organisational and social decisions. If we cannot control and use data/information effectively, we waste opportunities and risk societal issues, as overexposure and constant exposure to this critical resource leads to
What is Big Data?
Refers to a technology phenomenon that has arisen since the mid‐1980s. As computers have improved, growing storage and processing
capacities have provided new and powerful ways to gain insight into the world by sifting through the infinite quantities of data available.
• Between 2006 and 2010, the amount of digital information created, captured, and replicated each year added about 18 million times as much information as currently exists in all the books ever written.
What are the 4 Vs of Big Data?
1) the variety of the information available.
2) the volume of information produced, measured per second.
3) the velocity at which the information is produced.
4) its veracity (that is, its meaningfulness).
What is the difference between traditional data and non-traditional data?
Traditional data is relatively well described
and change slowly, whereas, Non‐traditional data formats change rapidly.
What is required for high data quality?
data that is consistent regarding time, content, meaning, and data that allow for unique identifiability, as well as being complete, comprehensible, and reliable.
What is Business Intelligence?
technologies that gather, store, analyse
and provide access to big data; delivering actionable information using fact‐based support systems.
What is Data Mining?
process in which big data is analysed from different perspectives and turned into summary data; mainly used for predictive modelling.
What are the statistical applications of Big Data?
using statistical principles to estimate, test
and predict outcomes, from Big Data.
What are the 4 uses of Information?
1) Communication: Organisations must exchange information to share ideas, coordinate actions, communicate with stakeholders such as customers and suppliers.
2) Supporting processes: Information flowing through business processes are complex
and involve various parts of the business.
3) Supporting decision-making: Predominately, information is used to make decisions. Usually
decisions are made by evaluating alternatives.
4) As a product: Companies use information they collect to inform others or to provide a service.
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