Difference Between Data, Information, Knowledge

8/10/2019 Difference Between Data, Information, Knowledge

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Session 3:Difference between Data, Information

and Knowledge

Kyaw Myo Min

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Datathe discrete, objective facts

about eventsis the essential raw

material needed for the creation of

information; however, it cannot beused to make decisions because it has

no meaning. It lacks meaning because

it has no inherent structure; noestablished relationships between

entities.

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Data becomes information when we add

meaning . We add meaning by providing acontext to the data. The context identifiesthe purpose, and circumstance, thatsurround the gathering of data; itremoves ambiguity. We can removeambiguity in a variety of ways:categorizing, calculating, condensing, etc.

Information is helpful because it allows usto answer the who, what, where,

when, and how many questions.

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Good information is:

Accurate - conveys the true situation. Timely - is available in time to make decisions.

Useable - is portrayed in common, easily understood

formats and displays.

Complete - provides all necessary data.

Precise - has the required level of detail.

In short, information helps us decide what to do, nothow to do it. The how requires knowledge.

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Knowledge is the data (facts),

information, and skills acquired throughexperience or education. The hallmark

of knowledge isjudgment: the ability to

make decisions or come to sensibleconclusions. Knowledge comprises not

only the ability to choose the

appropriate course of action, but alsothe skills to execute it.

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Knowledge is the data (facts),

information, and skills acquired throughexperience or education. The hallmark

of knowledge isjudgment: the ability to

make decisions or come to sensibleconclusions. Knowledge comprises not

only the ability to choose the

appropriate course of action, but alsothe skills to execute it.

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Data, Information, and Knowledge

Data: Unorganized and unprocessed facts;

static; a set of discrete facts about events

Information: Aggregation of data that makesdecision making easier

Knowledge is derived from information in the

same way information is derived from data; it is

a persons range of information


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The relationships between data, information, and knowledge

Valuable information

from the human mind:

includes reflection,

synthesis, context

Hard to captureelectronically

Hard to structure

Often tacit

Hard to transferHighly personal to

the source

Data with relevance

and purpose:

Requires unit of

analysis

Needs consensus onmeaning

Human mediation

necessary

Often garbled in

transmission

Simple observations

of the world:

Easily captured

Easily structured

Easily transferred

Compact,

quantifiable

InformationKnowledgeData

Valuable information

from the human mind:

includes reflection,

synthesis, context

Hard to captureelectronically

Hard to structure

Often tacit

Hard to transferHighly personal to

the source

Data with relevance

and purpose:

Requires unit of

analysis

Needs consensus onmeaning

Human mediation

necessary

Often garbled in

transmission

Simple observations

of the world:

Easily captured

Easily structured

Easily transferred

Compact,

quantifiable

InformationKnowledgeData

More human contribution

Greater value 8


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Relationship between data,

information and Knowledge

InformationData

Zero Low Medium High Very High

Value

Knowledge


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Difference between Data, Information & Knowledge

Definition Example

Datais basically just raw facts and

figures. No single piece of datacan be

useful by itself, as it does not provide

good business information.

The number 37 is data.

Informationis datawhich has been

processed and has now got some

meaning behind it.

37% of people eat junk food

every day.

Knowledgeis an understanding of the

informationwhich has been given.

Those 37% of people lead a

very unhealthy lifestyle which

could lead to bad problems.


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WISDOM WISDOM

Knowledge Knowledge

Information Information

DATA DATA


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Relating Data, Information, and

Knowledge to Events

Knowledge

InformationData InformationSystem

Decision

Events

Use of

information

Knowledge


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Purposes of Data, Information & Knowledge

WHY use Data, Information and

Knowledge?

WHEN use them?


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Purposes of Data, Information & Knowledge

Planning (resources, possibilities)

Monitoring & Controlling (activities implementation)

Recording Transactions (Documentation)

Performance Measurement (costs, revenues,

volumes, time scales & profitability)

Decision Making


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Any Questions!1 16


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Group Activity:

Provide 3 Examples of Differences

between Data, Information and Knowledge

in each group.

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Difference Between Data, Information, Knowledge

Documents