IFSM 300 ASSN 2

WEEK2READING1.pdf

1/13/22, 2:49 PM Data

https://learn.umgc.edu/d2l/le/content/622997/viewContent/25150599/View 1/1

Data

This week we will take a closer look at data, how it is stored and used, and how it is

organized. While it is not expected that you will become database experts, it is critical

that you understand the fundamentals of how data is stored, arranged, classified, linked

together, and secured for efficiency in providing information. Data is the key to

information systems. Data is the raw facts collected from various transactions and events

throughout an organization. Individually, the data represents a specific item such as a

product code, customer address, invoice amount, etc. Collectively, information systems

transform the data into useful information. For example, collecting the totals of all the

invoices for a given month lets us know how much was sold. Therefore, if information is

derived from data, it is critical that the data be correct both in content and format.

Accuracy and data integrity enable the organization to rely on the information to

effectively manage, control, plan, and oversee what's going on in the business.

In today's business environment, there is tremendous power in linking databases

throughout the enterprise to get the right information to the right people at the right

time. In addition, databases can provide strategic business intelligence to effectively

support decision making. However, it's important to emphasize that ultimately it is the

ability of employees and managers to interpret the information, understand how to apply

it effectively, and use their experience and knowledge that maximizes the value of the

information in their decision making.

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