Data and Information Computer Applications 2 Facilitator: Una Dooney Marketing and Languages

Computer Applications 2Slide No 2 Data Difference between Data and Information –Data is recorded raw facts and figures

Computer Applications 2Slide No 3 Data –Employee hours worked by each employee last week –Grades achieved by each student in Computer Applications in Summer ’04 examinations –No of umbrellas sold on 1 Sept this year by Pennys –These are FACTS or DATA

Computer Applications 2Slide No 4 Information Data that is processed into something that is meaningful –Analyse the employee data and we can find out how overtime is affecting our wage bill –From the student data we can get averages of student performance –From the umbrella data if we can make decisions about inventory levels needed

Computer Applications 2Slide No 5 Information as a Resource Information is data placed within a context The data has been processed or analysed in some way Information can reduce the uncertainty in business decision- making Information can help identify problems

Computer Applications 2Slide No 6 Information Levels in Business The levels of information in business follow the same pattern as the managerial levels in an organisation ie: –Strategic –Tactical –Operational

Computer Applications 2Slide No 7 Strategic information –Relates to long-term planning policies Population studies, foreign investments, government economic policies Concerned with the mission, objectives and overall goals of the business –What markets to serve –What products/services to produce/provide

Computer Applications 2Slide No 8 Tactical information Medium-term planning –Data arising from current activities –Sales analysis and forecasts, cash flow projections etc –Reaching and achieving the set goals and objectives Keeping within budget Maintaining product/service quality Identifying changes in the market

Computer Applications 2Slide No 9 Operational information Based on the hourly, daily transactions of a business –Record keeping of everything that occurs on an hourly, daily basis –Stocks in hand –Overdue orders –Work in progress –Recording sales and purchases

Computer Applications 2Slide No 10 Qualities of Information Regardless of the level at which information is used it is only valuable if it is available when needed, in the right format, is accurate and up-to- date Here is a list of qualities that good information possesses

Computer Applications 2Slide No 11 Qualities cont/ Timeliness –Available when needed Relevance –Relevant to decision to be taken Accuracy –Must be error free Current –Needs to be up-to-date

Computer Applications 2Slide No 12 Qualities cont/ Economical –The benefits from collecting the information need to be greater than the cost of collecting it Complete –Need to have all the relevant information Correct Format –Presented in a format the user can understand

Computer Applications 2Slide No 13 Qualities cont/ Scope –Not too broad or narrow. Too much information it is difficult to find what is relevant. Verifiable –Facts and figures may be confirmed