Business Processes

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Topics: Sales, Information
Business Processes

1. Consider the four definitions of information presented in this chapter. The problem with the first definition, “knowledge derived from data,” is that it merely substitutes one word we don’t know the meaning of (information) for a second word we don’t know the meaning of (knowledge). The problem with the second definition, “data presented in a meaningful context,” is that it is too subjective. Whose context? What makes a context meaningful? The third definition, “data processed by summing, ordering, averaging, etc.,” is too mechanical. It tells us what to do, but it doesn’t tell us what information is. The fourth definition, “a difference that makes a difference,” is vague and unhelpful. Also, none of these definitions helps us to quantify the amount of information we receive. What is the information content of the statement that every human being has a navel? Zero—you already know that. However, the statement that someone has just deposited $50,000 into your checking account is chock-full of information. So, good information has an element of surprise. Considering these points and the discussion of information in unstructured processes in Q5,answer the following questions:

a. What is information made of?

The information can be extracted from the data using study, experience or following set instructions. The value of the data item that can be used for decision-making is information. Data in itself doesn't offer much value and behaves as a stimulus to generate information as a response.
An information system is made from the following components: hardware, software, procedures and people. These components interact with each other to produce information. The quality of the information derived from data depends on the people who analyzed the data and the methods they used to interpret the data.

b. If you have more information, do you weigh more? Why or why not?

More information doesn't necessarily mean you weigh more. There is a

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