INFORMATION MANAGEMENT

DATA 3. Learning by Watching and Listening

Is made up of RAW FACTS such as employee (Reflective Observation)
information, wages, and hours worked, barcode o (of particular importance are any inconsistencies
numbers, tracking numbers or sale numbers. between experience and understanding).

Raw data on its own however, has no 4. Learning by Thinking

representational value. Unprocessed data
Data is collected in order to create information and
knowledge about particular subjects that interest
any given organization in order for that organization
to make better management decisions.
(Abstract Conceptualization)
o (Reflection gives rise to a new idea, or a
modification of an existing abstract concept The
person has learned from their experience).

INFORMATION
Information is the interpretation of bits of data in
order to form a greater picture of raw facts.
Processed data.

True value is placed on data when it is organized in a

meaningful way (Stair and Reynolds, 2006).
However, it is important to consider that some
information is more valuable than others.

KNOWLEDGE
Knowledge is a very important concept as it is the
process by which data turns into useful FORMS OF INFORMATION
information.
1. INTERNAL AND EXTERNAL INFORMATION
The process of this transformation between data and Internal Information - Comes from/gathered
valuable information depends on the creation of from inside.
relationships between sets of data External Information - Comes from/gathered
from outside
In an information system, Knowledge can be
described as: “an awareness and understanding of a 2. ELECTRONIC & HARD COPY (Paper based)
set of information and the ways that information can A hard copy (or "hardcopy") is a printed copy of
be used to support a specific task or reach a information from a computer. Sometimes
decision” referred to as a printout, a hard copy is so-called
because it exists as a physical object.
Data, information and knowledge are best described when
placed in a context. 3. FORMAL & INFORMAL INFORMATION
Formal Information – Formal sources of
For example, a particular company might be information can come from within or outside
interested in increasing their sale numbers. This the organization and include:
company would then collect data on such things as o Sample: Newspapers, management
their customer’s preference, their customers report, news on TV, staff disciplinary
purchasing habits, the number of sales they have pro, layour/map/blueprint.
achieved in the last month, or the time and day of
sales. The company would then employ Knowledge Informal Information - Information from
to make relevance of the available data. informal sources can include conversations with
colleagues at lunch or from friends or other
Part of the knowledge required to increase sales for associates external to your company.
instance, may include understand who buys the o Sample: Interview, surveys
product and what type of marketing those
consumers respond to. The result perceived by this FORMAL INFORMAL
process is known as information. Stair and Reynolds  Available to more than  May be interchange
(2006) state, “Therefore, information can be one person (Books, between just two people.
considered data made more useful through the newspapers etc.)
application of knowledge.  Information captured has  The information is
been recorded in same transient. Not stored or
KOLB’S LEARNING STYLES way that can be used. ( retrievable)
1. Learning from Feelings youtube recap, replay)
(Concrete Experience)  The information used is  Information is selected by
o (A new experience or situation is encountered, selected by the recipient. the provider
or a reinterpretation of existing experience). (You decide which news-
paper you are going to
2. Learning from Doing read)
(Active Experimentation)  Information tends to be  Information is interactive
o (The learner applies their idea(s) to the world static (it can change, listener
around them to see what happens). can provide feedback)
 INFORMATION MANAGEMENT

REASONS WHY MANAGEMENT PREFER INFORMAL TO

FORMAL METHODS OF INFORMATION TRANSFER

1. The response and feedback is instant.

2. Being personal, it is targeted at the recipient, so some
initial filtering will have been carried out.

DECISION MAKING PROCESS

D Define the Problem

A Analyze it and Evaluate Options
M Make the Decision
I Implement the Decision
R Review the Decision

DIFFERENT MANAGEMENT DECISION

1. OPERATIONAL DECISION
 Are day-to-day decisions affecting the
running of the organization. The decision to
be made quite frequently.

2. TACTICAL DECISION
 This have a longer time frame and tend to
be made by middle managers who are
directly involved in implementing the
policies of the organization.

3. STRATEGIC DECISION
 These are made by Top Management and
since they affect the organizational plans of
the whole business, possibly for a number
of years, they are not made very frequently.