G061 - Data, Information & Knowledge

Slides:

Advertisements

Similar presentations

FatMax Licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 2.5 LicenseCreative Commons Attribution-NonCommercial-ShareAlike 2.5.

Advertisements

Starter: Fixed and Variable costs Write down 3 fixed and 3 variable costs you can remember Also define the term ‘breakeven’

Cannibalization This module covers the concepts of cannibalization and fair share draw. Author: Paul Farris Marketing Metrics Reference: Chapter 4 ©

Home Work #7 Dr. Yan Xiong. The Central Copy Center (CCC) ending cash balance for October was $9, The owner deposited $ on October 31 that.

Balance Sheets for WJEC GCSE Business

T OPIC B.1 U NDERSTAND THE PLANNING TOOLS BUSINESSES USE TO PREDICT WHEN THEY WILL START TO MAKE A PROFIT Ani spends £1000 on hiring a hall and disco.

Unit 3 Accounts & Finance Ratio Analysis. Learning Objectives To be able to calculate ratios To be able to use ratios to interpret and analyse financial.

 To understand the different types of costs that exist and how you use them in calculations.

 The aim of this presentation is to help you understand what a management information system is and how it can be used to help inform decisions.

 Efficiency ratios evaluate how well a firm’s financial resources are being used. There are four main efficiency ratios: stock turnover, return on capital.

Unit 10 Economic Benefits of Marketing.  New and improved products  Creates competition  Larger variety of products and services  Lower prices  Increase.

Breakeven analysis. Key terms (1) Before we start studying breakeven it is essential that you understand some key terms: Breakeven is the point at which.

IB Business and Management

Data & Information Unit 2 Topic 2. A doctor will order various tests on a patient (data). The results from the tests will give the doctor information.

Exchange Rates. Definition The price of one country’s currency in relation to that of another.

Subtraction Strategies. draw a picture = Step 1, draw 85. Step 2, mark off 12. Step 3, what is left? = 73.

1 Ratio Analysis No. 1 Higher Grade Business Management 2009.

Slide © 2010 by Lovelock & Wirtz Services Marketing 7/e Chapter 6– Page 1 Chapter 6: Setting Prices and Implementing Revenue Management Services Marketing.

Unit 4.1 What Are The Key Decisions That Businesses Make?

1.2.5 Unit content Students should be able to:

ICT AS DATA, Information, Knowledge

Business Development Services 1 What’s your sales forecast? Session 5.

Data, Information, Knowledge and Processing

The Marketing Plan ProductPromotionPlacePrice. Product What products will you sell? 1.Research the competition to determine what products customers want.

DATA TYPES, VARIABLES AND CONSTANTS. LEARNING OBJECTIVES  Be able to identify and explain the difference between data and information  Be able to identify,

Project 8- Marketing Plan Mr. Sherpinsky Entrepreneurship Council Rock High School North.

GCSE ICT Information and Data: By the end of this, you should be able to state the difference between DATA and INFORMATION.

MKT-MP-8 Utilize pricing strategies to maximize return and meet customer’s perception of value.

Sales revenue and costs. Revenues Revenues. Sometimes called sales revenue, or just sales, or sometimes turnover. All mean the same. From the chart how.

The Food Chain Enterprise Challenge A business enterprise day focusing on the Dairy Industry.

Unit 26.  What is the base interest rate?  What is the variable interest rate?  What is the exchange rate to Euros?  What is the exchange rate.

How to Perform Market Research

Section 3 – Production costs at Holden plc. Lesson objectives To be able to calculate, explain and interpret fixed, variable, average and total costs.

Problem solving Chapter 3

A Basic Guide OBSERVATION & INFERENCE.  Inference comes from the verb “to infer” which means to conclude by using logic  Therefore, inference (n.) is.

Predictive Analytics Applied to Consumer Behavior Joe Loftus, Adviser: Phil Ramsey PhD Department of Mathematics and Statistics, University of New Hampshire.

 Must learn: the concept of exchange rates & how to calculate exchange rates  Should learn: how exchange rates work and how they affect businesses and.

Financial planning: break-even. Syllabus Candidates should be able to: define contribution and contribution per unit (selling price – variable cost per.

Unit 26.  Exchange rates are vitally important to businesses and consumers. Many people take foreign holidays, having to buy currency. If you went.

National 4/5 Business Management

Data, Information and Knowledge

A/S ICT IT Data, information and knowledge

Independent variable (X) – variable that can be controlled or manipulated. Dependant variable (Y) – variable that cannot be controlled or manipulated.

Lesson 2: The role of marketing Marketing Objectives

Shady Figures and Other Polygons

1.3.3 Estimating revenues, costs and profits

GCSE Business Studies Production.

Lesson 3-3 Writing Functions

“I can’t raise prices because I will lose customers.”

Ch. 13 Marketing in Today’s World

Data, Information & Knowledge 1

Lesson 3-3 Writing Functions

SUPPLY Quantity supplied is the amount of a good that sellers are willing and able to sell. Law of Supply The law of supply states that, other things equal,

Lesson 3-3 Writing Functions

Competitive Industry Report and Calculations

Management information systems ( MIS )

Unit 2 - Global Information

Profits Entrepreneurs use profits to

What Is a Unit of Sale? A unit of sale is what a customer actually buys from you. It’s also the amount of product (or service) you use to figure your operations.

The Marketing Mix 4 Ps of Marketing.

A local pizzeria sells a small pizza with one topping for $6 and a small pizza with three toppings for $8. What is the charge for a plain small pizza?

INTERPRETING EQUATIONS IN WORD PROBLEMS

Data, Information, and Knowledge

IGCSE Business Studies

Session 9: Calculating profit

Understanding Linear Functions

Presentation transcript:

G061 - Data, Information & Knowledge

Objectives To be able to: define the term data define the term information define the term knowledge distinguish the difference between information and knowledge

Data Definition of Data: data is raw facts and figures, values that, on their own have no meaning, 301083, 23edfr32

Data numbers and letters/alphanumeric characters (1) A software company creates on-line training packages for a number of different customers. Define the term data. [2] numbers and letters/alphanumeric characters (1) without meaning (1) raw facts and figures (1) unprocessed (1)

Information Definition of Information: data that is given meaning by its context the result of taking the data and processing it processing is performing some action on the data. calculating a total or average … Information = Data + Structure + Context

Information

Information Miss Jones, the owner of a landscape gardening company, is currently researching the prices charged by her competitors. Using an example, show how structure, context and meaning can be added to the data collected about landscape gardening to turn it into information. Data: eg 1750 (1) Structure: eg nnnn (1) Context: eg UK currency (1) Meaning: Amount charged per hour in pence (1).

Examples

Knowledge Definition of Knowledge: knowledge is the result of interpreting information drawing a conclusion from information knowledge is based on rules Information: We sold 200 tin of beans today Knowledge: That’s a lot of beans! We’d better order some more. knowledge is used to build up sets of rules it is hotter in July therefore we will sell more Ice Cream, so we need to increase the order for ice cream in June.

Difference Between Information and Knowledge Information is based on facts Information is based on processed data Knowledge is the result of interpreting data Knowledge is based on rules, rules are based on probabilities, not certainties rules can change as knowledge changes