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"Knowledge is power". In the context of a business organization

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  • Essay length: 2106 words
  • Submitted: 26/04/2001
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University Degree Management Studies

The first 200 words of this essay...

"Knowledge is power". In the context of a business organization, discuss the role of data, information and knowledge. In what way can a computer-based system support a manager in the decision making process?

1.0 Introduction

A business organization is an entity formed for the purpose of carrying on commercial enterprise. Such an organization is predicated on systems of law governing contract and exchange, property rights, and incorporation. Information technology is of great importance to business and most are reliant various computerised systems in order to function efficiently and meet their aims and objectives. Computers are used in many ways in businesses from just merely word-processing to actually making decisions for managers to solve problems within a business organization. Data, information and knowledge are what businesses and individuals are based upon. These three elements are important to business organization in many ways, an example of where it these are is in market research whereby data is processed into information when collected and organised and then once this done the information is read by human and becomes knowledge. The importance and use of data is shown in figure 1.1.

Figure 1.1 Acknowledge Ramp

2.0 Data

Data

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