A set of facts or figures that have no meaning or context
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Define Information
The set of facts or figures processed by the computer and given a meaning or context
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Define Knowledge:
Applying a set of rules to the facts or figures so that a decision can be made
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What are the advantages of encoding data?
saves inputting time, reduces the amount of storage capacity required and less risk of errors when typing data in e.g. using M instead of 'medium' which someone may accidently spell 'meidum'
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What are the drawbacks of encoding data?
reliant on value judgements and a subjective opinion. Value judgements can be less accurate because people will have different opinions on what I tall or short.
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Suitable examples of encoded data
GBP & USB (Currencies), S, M, L, XL (Sizes) and UK & USA (Countries)
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For information to be good quality it has to be?
up to date, complete and accurate
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What are the benefits of quality information for a business?
1) Aids decision making so they are able to have a bigger picture. 2)Monitor the progress they are able to see if the business is hitting targets 3) Target resources to gain the competitive advantage
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What are the costs of obtaining good quality information?
Financial, time and human resources can have effects on the quality of information
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What are the costs around data collection?
Data Collection: (Money: Paper, Ink) (Time: travel) (Human: Need training)
- Accuracy: Information must be accurate - Correctly targeted: High-level managers need to see monthly sale figures - Understandable: Coded fields in an e-commerce site need to make sense. - Complete: Leaving out data cab make it harder to spot tr
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What are the different ways information can be found?
- CD ROMs – allow access of very large quicker than downloading the files. - The Internet – provides up to date information such as product lines launched by other companies. - Intranets – Internal networks viewable by staff staff can share inform
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Other cards in this set
Card 2
Front
The set of facts or figures processed by the computer and given a meaning or context
Back
Define Information
Card 3
Front
Applying a set of rules to the facts or figures so that a decision can be made
Back
Card 4
Front
saves inputting time, reduces the amount of storage capacity required and less risk of errors when typing data in e.g. using M instead of 'medium' which someone may accidently spell 'meidum'
Back
Card 5
Front
reliant on value judgements and a subjective opinion. Value judgements can be less accurate because people will have different opinions on what I tall or short.
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