MIS- Responses in 150 words each to two students in apa style

I. Data, Information & Knowledge

The industrial revolutionized the way humans lived, for the first-time resources such as coal and minerals became the new currency, but with the technological revolution, data has become the most valuable resource of the modern age. Data, information and knowledge have a hierarchical and symmetric relationship to understand the relationship between data, information and knowledge it is important to understand what these terms mean.

Data: It is the most crucial and uninterpreted set of facts and figures. It is by itself not useful wither for the employees nor the management. This requires further analysis to derive information that is relevant (Kanehisa et al., 2013). Data is the foundation for information and is a very crucial commodity in the technology age.

Information: It is the processed and analyzed form of data. The data usually only has facts and figures and information adds context to the data (Frické, 2008). This makes it more accessible and allows the users of the information to understand it analytically. 

Knowledge:  It is the combination of information and experience. This allows for the information to be used productively to make strategic choices that can be beneficial (Boisot & Canals, 2004). This can also be extremely useful for planning as it is based on information and experience.

Relationship between data, information & knowledge

Data, information and knowledge are very closely related. Without raw data to analyze it would be hard to generate reliable information. Data is often generated on a large scale and earlier it is very expensive to gather and store the data. With the advent of the mobile data and cloud computing, storing and processing data to generate information. Information can only be generated from raw data by processing and analyzing it and presenting it visually for the user to understand. With the added professional experience information is key to knowledge. This helps employees and management not just perform daily tasks but perform tasks efficiently and make decision more informed and have a strategic advantage over competition.

II. Organizational Information Deficiency

Information deficiency is major problem several enterprises and organization in the technology era. The lack of information does not just hinder opportunities for the organization but also create several problems. With the changing work dynamics and globalizations companies now have to work at different time zones and geographies therefore the transfer of information for performing tasks without interruption (Downs & Guner, 1999). With the lack of information also comes the knowledge deficiency that can have other consequences for the company. Companies that lack information also tend not to understand the changing market needs and consumer interests.

Overcoming information deficiency problem

The advancements in technology and low internet and data costs makes it easier for companies now to overcome the information deficiency problem.

Digitize the business, by integrating technology to not just gather and store data but also make sure the data is processed and is accessible by employees and management even remotely.

Provide better employee training and accessing technology to better interpret the information.

 

Integrating the existing data collection system with technology and introducing data processing techniques to better generate useful information.