4.1.1 Data, Information & Knowledge

1. 4.1.1 Data, Information & Knowledge The importance of up to date, accurate and complete information

2. Starter: Spider Diagram • Get into groups of 4 • Draw a spider diagram of everything you can think of relating to data, information, knowledge and encoding (5 mins - Groups)

3. Main: Quality of the Data Source • GIGO (Garbage In Garbage Out) • If data input is poor the resulting information output will be poor ie corrupt, inaccurate etc. • Can you think of any “real life” examples? Garbage In Garbage Out

4. Main: Examples of GIGO • Unreliable questionnaires/surveys • E.g. inappropriate samples, badly worded questions etc. • Incorrectly calibrated instruments • E.g. an incorrectly calibrated balance will give incorrect measures of mass. • Human error • E.g. transcription errors whens entering data.

5. Main: Data Quality If incorrect information is put into a system, incorrect information will come out of it. Working in pairs complete the following question: There are various factors that determine the quality of data can you think of 5?

6. Main: Data Quality • There are various factors that determine the quality of data: • Accuracy • Relevance • Age (up to date) • Completeness • Comprehensible

7. Main: Factors Effecting Data Quality The value of information depends on it being: • Accuracy: Inaccurate information cannot be relied upon. For example, if you asked a potential employer about wages and he gave you an incorrect figure, the information would be worthless. • Completeness- If you have only part of the information, then it is useless.For example, if the potential employer requests you come in for an interview, but only tells you the time, not the day • Age(up to date): Information changes over time.. It needs to be current.For example, if the employer provided a training manual to operate the cash register from 10 yrs ago, it would be worthless. • Think of 1 more example for each of the factors? (5 mins)

8. Main: Other Factors Effecting Data Quality

9. Task: Factors Effecting Data Quality There are a number of implications for a organisation if the information is not of good quality. Give distinctly different examples of a problem that could arise if the information is not: • Up-to-date • Accurate • Complete (15 mins)

10. Companies that sell products by mail order need to keep up-to-date lists of name and addresses of customers who may be interested in making a purchase. This data is very valuable and can be sold to other ‘like’ companies. What would make this list become of little value? What could be added to the data so that it can be kept up-to-date? Is the cost of keeping data up-to-date, accurate, and complete worthwhile to the company? (5 mins) Case Study: Usefulness of Data

11. Main: People In Organisations Senior Managers: Deal with strategic matters and make major decisions. Junior Managers: Deal with the day to day issues in an organisation at the operational level. • Day-to-day management of the operations staff • Allocating work to subordinates • Arrangement of staff rotas, dealing with staff sickness/absence • Motivating staff • Handling a departmental • budget • Strategic planning – this involves the setting of overall objectives and policies • Market share • Cash flow • Profits • Growth in profits

12. Task: Case Study - You In pairs think of your home and think of some specific responsibilities of YOU (lower level management) and the PARENTS? GUADIANS (higher level management). (5 mins)

13. Main: Decision Making Information systems can support decision making Management need to take action when a problem arises Management can take these decisions at various levels – Operational, Tactical or Strategic Give an example for each level?

14. Main: Gaining Competitive Advantage This is taking advantage of external or internal events It is done when opportunities arise It is used to identify patterns/trends Decision making is involved to benefit the company Give an example of this?

15. Main: Analysis – Monitoring Progress Monitoring and controlling a business can make immediate use of information A business regularly does the same processing of data. Typically used to monitor trends or patterns Give an example of this?

16. Questions: • Name some organisations where the collection of data is essential for their continued running? • Can you think of a situation where information was not used wisely and an organisation has suffered the consequences?

17. Plenary: Value of Information Information is a resource fundamental to the success of any business. What can good quality information be used to do: 4 possibilities

18. Plenary: Value of Information • Maximise sales • Cut costs • Develop new products • Help make good management decisions

19. Exam Question: • (a) The performance of a company has been improved by having up-to-date, accurate and complete information. Other than by aiding the decision making process, describe, using different examples, two ways in which good quality information can add value to the company.

20. Main: Static Vs Dynamic Data Static information has been created, it is unlikely to be changed or updated for a significant amount of time. Dynamic information is always being changes, continuous activity or progress. Can you think of 3 examples for each?

21. Main: Static Vs Dynamic Data Static CD-Room Encyclopedia Books Newspapers Dynamic Web Sites e.g. BBC News Facebook Wikipedia Blogger Google