In today's society and work place information and data is becoming -ever increasingly more important.

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Sunesh Kakad        Page  of         

In today’s society and work place information and data is becoming -ever increasingly more important.

First we need to find out what is information and data and what makes it important. The central part behind any information is Data. Data and information if you like are two sides to the same coin, information being data with meaning. Therefore it is essential that some key properties are defined.

There are two sources of information. Internal Information normally produced by processing transactions from within the organisation, this is information that directly derives from inside the organisation. It is also any information that is used internally within the organisation.

2.External information on the other hand is gained through a variety of sources outside of the organisation such as newspapers, television the Internet and other similar places. There are companies that specialise in collecting information from a variety of sources and selling on their findings to relevant organisations. This allows the receiving organisation to maintain their access to external sources without having to devote employee time to searching it themselves.

So by just looking at the two sources of information we can see why information is becoming ever increasingly more important for efficiency running of an organisation and can be sold on to other companies who need it  in exchange of in some cases, large sums of money.

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Another area to look at is the nature of information held by organisation. It can be split into two parts, Quantitative and Qualitative. Qualitative information needs to be detailed and accurate to allow for effective decisions to be made. Quantitative information is brief and as concise as possible. Too much information sometimes could cause unnecessary delay and confusion as well as having the risk of missing vital information.

An organisation will use information and any data collected via the two parts mentioned above in another way as well. The information and data collected can allow for effective decisions ...

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