1. What is Information?

2. Data:
Collection of facts
(opinions, demographics, statistics)

3. But Data is not information…

4. This may not be Information:
Data:
Collection of facts (opinions, demographics, statistics)
This may not be Information:
Simply because something looks good, or seems to be complete
or complicated… does not make it information.
Not this

5. Data:
Collection of facts (opinions, demographics, statistics)
Information:
* A message received and understood.

6. Data:
Collection of facts (opinions, demographics, statistics)
Information:
A message received and understood.
* A collection of facts from which conclusions
may be drawn.

7. Data:
Collection of facts (opinions, demographics, statistics)
Information:
A message received and understood
A collection of facts from which conclusions
may be drawn
* Knowledge acquired through study, or
experience, or instruction.

8. Data:
Collection of facts (opinions, demographics, statistics)
Information:
A message received and understood.
A collection of facts from which conclusions
may be drawn.
Knowledge acquired through study, or experience,
or instruction.
Information as the result of processing,
manipulating and organizing data in a way that
adds to the knowledge of the person receiving it.

9. Putting all these together: Information:
1. A message received and understood.
2. A collection of facts from which conclusions may be drawn.
3. Knowledge acquired through study, or experience,
or instruction.
4. Information as the result of processing, manipulating and organizing data in a way that adds to the knowledge of the person receiving it.

10. Something that changes
Information:
Something that changes
what you know.
This is important, so let’s repeat it…

11. Something that changes
Information:
Something that changes
what you know.

12. A fascinating look at what information is:

13. Suppose you received these reports:

14. Suppose you already knew everything that was in them!

15. Would you still want to pay for these reports?

16. Something that changes what
Information:
Something that changes what
you know.

17. Information:
It is a commodity.

18. Information:
It is a commodity.
It is property.

19. Information:
It is a commodity.
It is property.
It is power.

21. Information Characteristics:
Value
Dependent upon the value of
decisions that can be made with
a change in what you know.

22. Information:
Value
Dependent upon the value of
decisions that can be made with
a change in what you know.
Value = Benefit - Costs

23. Information: Value Value = Benefit - Costs
Consider a manager who (on average) makes correct decisions
65% of the time. A correct decision (on average) makes a million
dollars, and a wrong decision loses a million. Over 100 decisions,
the manger’s decision would make the firm $30,000,000 ($65 million
correct and a negative $35 million when wrong).
A stream of business research increases the manager’s accuracy to
75%. The net over 100 decision is now $50,000,000 ($75 mill - $25 mill).
The information generated by that research is worth $20,000,000.

24. Information: Value Value = Benefit - Costs changed a decision.
Note that the information only had value when the manager
changed a decision.
If research is designed to simply protect
already made decisions or to play it safe, it will not have the same value,
and, in fact, may have no value at all.

25. Information: Value Value = Benefit - Costs
There are at least three factors that influence the value of
Information in decision making.
The level of uncertainty.
What is gained or lost when making a decision.
The nearness to breakeven. (Basically changes the
the gain and losses possible).

26. the value of information could be
Value = Benefit - Costs
In a business sense
the value of information could be
Negative.

27. Information Characteristics:
Value
Amount
Not dependent upon
length or complexity

28. Information Characteristics: Value Amount Not dependent upon
length or complexity
Amount is inversely proportional
to the probability of the message.

29. Claude Shannon

30. Three pictures
Each has the same number of pixels

31. Three pictures Each has the same number of pixels
So each has the same amount of:

32. Three pictures Each has the same number of pixels
So each has the same amount of: DATA

33. Three pictures Each has the same number of pixels
Each was judged to have the same amount of
artistic and esthetical appeal.

34. Three pictures Each has the same number of pixels
Each was judged to have the same amount of
Artistic and esthetical appeal.
So each as the same amount of:

35. Three pictures Each has the same number of pixels
Each was judged to have the same amount of
Artistic and esthetical appeal.
So each as the same amount of: Quality

36. The print media stays in business
by selling advertisements and
Influence…
Because….
People will be attracted to the
media when they find
something that they
didn’t already know.

37. Information In other words… people are attracted to and buy
Even if it is wrong!

38. Editors will then buy
material that will sell….
This the key to doing
successful PR!

39. Three pictures
1. People enjoying a nice afternoon
at the fair.

40. Three pictures
2. A picture of current political interest.

41. Three pictures
3. Hillary with a real alien

42. Three pictures
3. Or Trump with a real alien

43. Three pictures
Which one will be worth the most money?

44. Three pictures
Which one that has the
lowest probability!

45. Information Characteristics:
Value
Amount
“Goodness”
Ability to be used to make
correct decisions.

46. “Goodness”
Ability to be used to make
correct decisions is based on:
Reliability

47. “Goodness”
Ability to be used to make
correct decisions.
Reliability
Validity

48. “Goodness”
Ability to be used to make
correct decisions.
Reliability
Validity
Relevancy

49. “Goodness”
Ability to be used to make
correct decisions.
Reliability
Validity
Relevancy
Currency

50. “Goodness”
Ability to be used to make
correct decisions.
Reliability
Validity
Relevancy
Currency
Sufficiency

51. Ability to be used to make correct decisions. Reliability Validity
“Goodness”
Ability to be used to make
correct decisions.
Reliability
Validity
Relevancy
Currency
Sufficiency
Efficiency
Arrange six matchsticks to form four
equilateral triangles.

52. Information Characterics:
Value
Amount
“Goodness”
Evaluation

53. Information:
Evaluation
Who produced it?

54. Information:
Evaluation
Who produced it?
When was it produced?

55. Information: Evaluation Who produced it? When was it produced?
How was it produced?

56. Information: Evaluation Who produced it? When was it produced?
How was it produced?
How was it analyzed?

57. Information: Evaluation Who produced it? When was it produced?
How was it produced?
How was it analyzed?
Why was it produced?

58. Information: Evaluation Who produced it? When was it produced?
How was it produced?
How was it analyzed?
Why was it produced?
Who benefits from this information?

59. Information: Evaluation Who produced it? When was it produced?
How was it produced?
How was it analyzed?
Why was it produced?
Who benefits from this information?
Why is this information available to me?

61. Homelessness becomes a problem when Republican in White House
For years the most commonly-used figure to cite the number of homeless in America was three million.
At a congressional hearing on this issue the late homeless activist Mitch Snyder was challenged to give
his documentation on that number. "I made it up," he responded, "to get your attention.“
In 1989, pre-Clinton, CBS anchor Charles Osgood claimed, without citing the source,
that "It is estimated that by the year 2000, 19 million Americans will be homeless unless something
is done, and done now.“
The same year CNN ran a story using a study from Rutgers University that proclaimed if
America experienced only a mild recession that the number of homeless could triple.
"There now are up to 40 million Americans" one paycheck away from living on "the streets,"
the story announced.
Never mind the fact that the Census Bureau in 1990 estimated there were only 220,000 homeless
Americans, and two other national surveys have pegged the total figure at between
200,000 and 500,000.

62. Information Characteristics:
Warning signs:

63. Information Characteristics
Warning signs:
1. Confirms what you have always known.

64. Information: Warning signs: Confirms what you have always known.
Confirms what you WANT to believe.

65. Information: Warning signs: Confirms what you have always known.
Confirms what you WANT to believe.
Contradicts what you have always known.

66. Street Light Effect

67. Here is an example of the Effect in management.

68. Be mindful of how information is presented;
the same thing can be said (or seen) in different ways
each suggesting a different effect or outcome.

69. Using Visuals (graphs and charts) to Make a Point
Or to Hide a Point
Global Temps over 15 Years

77. http://www. gallup. com/poll/113980/Gallup-Daily-Obama-Job-Approval

79. During the weekend of Labor Day 2016,
I saw or heard at least three times that Trump was
ahead in the polls…
This is the New York Times response:
Here's the quote from the Tacoma Tribune.  Title: Media bias:
Definition of journalism has changed.
"It is the promotion and advocacy of political and social goals through the collection and
editing of news for presentation through the media.  Every media outlet has one or more agenda.”  
L.H. Smith, University Place, WA

80. Information: Warning signs: Confirms what you have always known.
Confirms what you WANT to believe.
Contradicts what you have always known.
Is GOOD THINK.

81. Information: GOOD THINK: The “proper” way to think about any topic.
The “politically correct”
way to think.
George Orwell book “1984”

82. GOOD THINK:
The “proper” way to think
about any topic. The “politically correct” way to think.

83. Let’s give it a try…. 1. Find a news item that is “fake news.”
2. Find a news item that is claimed to be “fake news”
but isn’t.
3. Find a news item that was accurate and was produced
by the source from which you received it.
Explain your answers in terms of our discussion in this section.

84. Back to Global Warming
(Sorry)

86. Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
Global warming demands US attention
Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
‘I Think I Was Right’

87. Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
Global warming demands US attention
Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
‘I Think I Was Right’
Candidates must face global warming

88. Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
Global warming demands US attention
Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
‘I Think I Was Right’
Candidates must face global warming
Cycle just might be cooling trend

89. Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
Global warming demands US attention
Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
‘I Think I Was Right’
Candidates must face global warming
Cycle just might be cooling trend
Ecologists raise global warming alarm at UN

90. Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
Global warming demands US attention
Inhofe Defends ‘Global Warming Is The Greatest Hoax’ Comment:
‘I Think I Was Right’
Candidates must face global warming
Cycle just might be cooling trend
Ecologists raise global warming alarm at UN
Danish Meteorological Institute claimed GREENLAND ICE MASS
BALANCE HAS GROWN IMPRESSIVELY Since 2014:
In the 2014/2015 season the daily course and accumulated ice mass
development on Greenland measured in gigatons since September 1, 2014
is showing a mass growth (lower chart) of around 200 gigatons,
or 200 cubic kilometers.”