1. Be prepared to define and provide examples of data, information, business int
ID: 3755265 • Letter: 1
Question
1. Be prepared to define and provide examples of data, information, business intelligence, and knowledge. And the relationships between each.
2. Be prepared to analyze Porter’s Five Forces for an industry (not a specific company). Include on your discussion how the industry uses loyalty programs and any switching costs. (analyze using all five forces.
3. Discuss the information technologies available to support managers and their decision making. Specifically dashboards and data visualization. Where does the data come from?
Explanation / Answer
Answer)
1) Here each gets build on the previous one where data are the raw facts whereas information is the data which has a meaning. Business intelligence is a collection of information which provides the scope of making strategies for business decisions. Finally comes knowledge which is superior to BI, how BI is affected, patents, trade marks and organizations.
For example;
Terminology of AI is the data, the formation of terminologies into a form is information, functionality of AI and use of it is captured by BI and what impact it puts to the organization is the knowledge which is jotted down in a document.
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