• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...


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. ...read more.


Projected orders for the next six months, a forecast of payments and the information outlining the affect of a new store in a given area are examples of strategic information. It allows information to be gathered within an organisation to be split up into certain categories. So that the data gathered can be best used to further the companies growth and the key point to note is to get ahead of it competitors thus showing information is important to the organisation. The next important thing that has made data and information increasingly important is how accurate and up to date both the data and information is. The timing of information or how up to date it is dependent upon the type of information. For example Information regarding aeroplane tickets needs to be up to the minute since the risk of overbooking would be too high otherwise. The total volume of sales through the week may be required by the following day. It is clear that information must be on time and reach the right person since otherwise effective decisions are harder to arrive at without the necessary facts and figures. ...read more.


During the Second World War both sides tried to collect information on the other so that the most effective strategic decisions could be made. Both sides therefore tried to give out misinformation to try to make such decision-making as difficult as possible. Information is often made to simplify the data into an easily analysed form. Accounts may be rounded to the nearest �1 for simple analysis of day-to-day business whilst large decisions may be rounded to the nearest �100. The level of accuracy depends on the information itself and its intended purpose. So in conclusion I have analysed and accessed many reasons why in today's society and work place information and data is becoming ever increasingly more important. Summary: Companies can sell up to date and accurate information to other companies provided they have the consent to do so. Information can be used to expand a company or increase its profit. And finally the value of information can also be based on the source of the data so if the source is not trustworthy then it is unlikely to have much influence and not be very important to anyone. Sunesh Kakad Page 1 of 3 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays


    another store when you have your own supporter who you believe in and have common things in actvities. This way Tesco wins to patronise the audience and the government, because the youth club involves producing the UK feature footballers who will present UK in the world Cup.

  2. For my business report I am investigating the Co-op erative society supermarket.

    Advantages and Disadvantages of a Co-op erative ownership In comparison with regular commercial business, Co-op eratives have certain advantages or strengths and certain disadvantages or weaknesses. Advantages: * Its main advantage is that it exists and operates for the benefit of its patron members.

  1. The Information Society and Information Technology: A New Mode of Production?

    bring about social change has been the subject of much debate among technological determinists and many Marxist scholars. The role of technology in the information age is put into question in terms of its impact on the existing mode of production, and how it affects the forces and relations involved in it.

  2. Logbook activity - discrete and continuous data

    - Median average - after ranking the data set in an increasing order (from smallest to largest), the value that is in the middle. - Quartile ranges - these are summary measures that divide a ranked data set (smallest to largest)

  1. Free essay

    Managing information

    Secondary data can also be known as desk research. Examples of secondary data may include things such as: * Sales figures * Annual report * Internet data * European commission * Commercial publications * International publication * Information on competitors The way secondary data can be done is maybe one of the following: Market share Promotions/ prices of competitors

  2. How Technolgy effects some in the work place

    people that join the company can see how the company works on the intranet * Pictures or documents can be stored and accessed * You can enter the intranet via the internet from any where in the world * Latest information can be broadcasted across the company i.e.

  1. Buisness at work

    The owner is not personally responsible for the debts of the business. Owners may lose value of shares in the business. Explain your business objectives. An objective is a goal the business wishes to achieve.

  2. IT in the Supermarket

    A debit card with a smart chip is placed in the reader and the customer then enters their PIN to authorise the money being taken out of their account. This is much more secure than signing a docket as it cannot be forged.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work