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Notes Comprog

Information resolves uncertainty by defining the essence and characteristics of entities, closely related to data and knowledge. Valuable information must be accessible, accurate, complete, economical, flexible, relevant, reliable, secure, simple, timely, and verifiable, as it aids decision-making and organizational goals. The value of information is demonstrated through its impact on efficiency and profitability, exemplified by market forecasts influencing product development.

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Casein Nitrate
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4 views1 page

Notes Comprog

Information resolves uncertainty by defining the essence and characteristics of entities, closely related to data and knowledge. Valuable information must be accessible, accurate, complete, economical, flexible, relevant, reliable, secure, simple, timely, and verifiable, as it aids decision-making and organizational goals. The value of information is demonstrated through its impact on efficiency and profitability, exemplified by market forecasts influencing product development.

Uploaded by

Casein Nitrate
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Information can be thought of as the resolution of uncertainty; it is that which answers the

question of "What an entity is" and thus defines both its essence and nature of its
characteristics.

📌 Data, Information, Knowledge


Information is associated with data, as data represent values attributed to parameters, and information is data in
context and with meaning attached. Information also relates to knowledge, as knowledge signifies understanding of
an abstract or concrete concept. (DIK are closely related concepts but has its own roles)

Data: raw facts (e.g., employee number, sales orders).


Data Representation = How data is stored, processed, and transmitted.

Information: collection of facts organized & processed to be meaningful.


Knowledge: Turning data into information is a process of related tasks to achieve a result.
Creating useful information requires knowledge to define relationships among data.

➡ Prof. Ray Larson’s hierarchy(School of Information at the University of California, Berkeley):


Data = raw material

Information = organized data & presented to someone


Knowledge = info read, seen, heard, & understood

📌 Characteristics of Valuable Information


Accessible: easy for authorized users to get when needed.
Accurate: error-free (garbage in, garbage out if bad data used).

Complete: includes all important facts.

Economical: worth the cost of producing.

Flexible: usable for different purposes.


Relevant: important for the decision.

Reliable: trustworthy source and method.

Secure: protected from unauthorized access.


Simple: not too complex; avoids overload.

Timely: available at the right moment.

Verifiable: can be checked for correctness.

📌 The Value of Information


The value of information is directly linked to how it helps decision makers achieve their
organization’s goals. Valuable information can help people in their organizations perform tasks
more efficiently and effectively.

EX. Consider a market forecast that predicts a high demand for a new product. If you use this
information to develop the new product and your company makes an additional profit of
₱10,000, the value of this information to the company is ₱10,000 minus the cost of the
information..

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