Reference no: EM131920170

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Posting 1:

Discuss the relationship between data, information, and knowledge.

Before talking about the relationship between these, let's see what they are. Data is simply the description of an object, event, person or anything for that matter.

Often called as raw facts, and can be characterized and organized in a certain way. Information is when raw data is converted into a meaningful context that can be analyzed by a person and can be made sense of. Knowledge on the other hand, is the expertise and intelligence applied in a way to achieve the end goal. This usually reflects a person's intellectual resources.

When we talk about these different elements, the relationship is clear. These are the building blocks for creating any valuable resource. The knowledge applied to use the information which is extracted from the data is how everything in this world is working.

Why do organization have information deficiency problem? Suggest ways on how to overcome information deficiency problem.

The main reason for the organizations to have information deficiency problem is that they do not have a proper system maintained in their organization through which a healthy cycle process of information is not great in the company.

The five main reasons for information deficiency is:

1. Understanding the needs: Organizations do not understand the need for maintaining a proper information management system by which no group in an organization gives important for documenting or storing the information and hence organization experiences information deficiency when information is necessary.

2. Technical background: Hiring people who have knowledge on coding, database mining, and data collection are not serious importance, considering the fact that these resources are expensive. Instead, companies should focus on hiring more people who can use the latest techniques of storing the data instead of the traditional methods.

3. Security: Security is one of the major requirements in the organizations especially when dealing with data. Proper security methods are not in place for securing data such as storing all the confidential information in a database and not giving access to everyone. Organizations should also train employees on how important information is and give them training on how to secure it.

4. Unorganized Requirements: Unclear requirements are also one of the major cause for data deficiency. Employees should be given clear prerequisites and given proper information on the storage and data protection

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Posting 2:

Relationship between data, information and knowledge

Data: This can be raw data coming from sensors, structured data, unstructured data, binary data, or any other piece of data that does not make much sense on its own. For example, individual fields in a form like name, or phone number, or address. It can also be an image, or a video.

Information: This is the result of collecting and putting together data that make it as a Fact. An example for information is the instructions that you find on forms like driver license, and passport form.

Knowledge: This is something that a person acquires through education or knowledge. You usually need to analyze the information and combine it with your experience to create knowledge. Knowledge costs in terms of money, or time.

The relationship can be defined as Data is the input for Information, and Information is the input for Knowledge.

Information deficiency problem

Organizations can lack information in the following ways,

1. Strategy plan

If the organization does not have clear strategy plans and vision, it can affect the growth of organizations and discourage employees. Lack of a good strategy can be caused by poor management, or underestimating competition.

2. Business plan

The organization needs to study the market, the requirements, and the companies vision, and come out with a business plan that defines how it is going to project its products. It should outline how it is going to make money in the market. The lack of a market study, or vague requirements can affect negatively the business plan.

3. Subpar marketing

The marketing team needs to study the targeted audience carefully and come out with marketing material. This will be the most effective way of advertising their product to the right people. If the marketing team is not able to study the right audience, this lack of the right information will result in potentially ineffective marketing that is not directed towards the right audience.

4. Weak customer support systems

Customer support systems have a very important role to play in the success of the product. This is the frontline which interacts directly with the customer. The important role for them is to record all issues, enhancement requests, or success stories and relay it across the organization. This plays a major role in understanding how the product is impacting its customers and what are the areas of improvement.

This is also one of the input towards creating new products to achieve growth in the market.