Data vs. InformationData Information raw facts data with context no context processed data just numbers and text value-added to data summarized organized analyzed
Data vs. Information Data: 51007 Information: 5/10/07 The date of your final exam. $51,007 The average starting salary of an accounting major. 51007 Zip code of Bronson Iowa.
Data vs. InformationData Information 6.34 SIRIUS SATELLITE RADIO INC. 6.45 $7.20 6.39 $7.00 6.62 6.57 $6.80 Stock Price 6.64 $6.60 6.71 $6.40 6.82 $6.20 7.12 $6.00 7.06 $5.80 1 2 3 4 5 6 7 8 9 10 Last 10 Days
Data Information Knowledge Data Summarizing the data Averaging the data Selecting part of the data Graphing the data Adding context Adding value Information
Data Information Knowledge Information How is the info tied to outcomes? Are there any patterns in the info? What info is relevant to the problem? How does this info effect the system? What is the best way to use the info? How can we add more value to the info? Knowledge
Information SystemsGeneric Goal: Transform Data into Information At the Core of an Information System is a Database (raw data).
Information Systems (TSP and PCS) Data doesn’t just appear, Capturing Data is really the first step These systems help capture data but they also have other purposes (goals): 1. Transaction Processing Systems (TPS) 2. Process Control Systems (PCS)
Capturing Data What are some examples of real TPS’s? What kind of data is being capture? How is this data transformed into Information?
Data Processing Recall that a basic system is composed of 5 components Input, Output, Processing, Feedback, Control Typically processing helps transform data into information. Input Output Processing Raw Data Information
Processing Summarizing Computing Averages Graphing Creating Charts Visualizing Data