ITM 102 Lecture Notes - Tacit Knowledge, Knowledge Worker, Explicit Knowledge

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Chapter 6 - Database Management and Business Intelligence
What are Data, Information, and Knowledge?
-Collect data about various subjects to transform it into information and knowledge.
-Information and knowledge have tangible value.
-Knowledge becomes an important asset.
-The flow of data and information to create knowledge is what creates value in organi-
zations.
The Data-Information-Knowledge Continuum
-Data are raw unorganized facts, numbers, pictures, and so on.
-Information is data that have been organized and are useful to a person.
-Knowledge is created when a person combines experience and judgement with infor-
mation.
-Applying knowledge is how business people create and add value to organiza-
tions.
-Wisdom adds insight and ethics to the experience and professional judgement inherent
in knowledge.
-Wisdom enables business leaders to perceive the underlying meaning and nu-
ances of a business situation and ensures that knowledge from all relevant
sources is considered in the final decision.
-Humans ---> wisdom and knowledge
-Computers ---> information and data
-The cost and complexity of the tasks to be accomplished increase as you move up the
pyramid.
-Information technology and systems assist primarily with collecting, collating, and ana-
lyzing data and information.
Lifelong Knowledge Creation
-Explicit knowledge is knowledge that is readily codified.
-Tacit knowledge is knowledge that you gain through experience, insight, and discovery.
-Data ---> Information ---> Knowledge
Knowledge Work Activities
-Knowledge work involves the discovery, analysis, transformation, synthesis, and com-
munication of data, information, and knowledge.
-Work flows are the steps you go through.
-Work product is the outcome of your building efforts.
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Chapter 6 - Database Management and Business Intelligence
Discovery: Finding Data, Information, or Knowledge
-Discovery is the finding of data, information, and knowledge relevant to a task, prob-
lem, issue, or opportunity (the context).
-Being with an idea to look for, then reflect on where information related to the task may
exist, then retrieve relevant data from those various sources and assess its value to the
decision at hand.
-Strong internet research skills and awareness of limitations of this source of data can
help create business value for your organization.
Analysis: Investigating and Examining the Available Data, Information, and Knowledge
-Analysis is breaking down the whole into its more discrete parts to better understand
how it works.
-Process mapping if you are analyzing a business process.
-Quality assurance if you are analyzing product quality.
-Performance testing if you are assessing fitness or standards.
-Information ---> Knowledge ---> Wisdom
Transformation: Organizing Discovery Results
-Transformation is knowledge work that requires you to use the results of your analysis
to deepen your understanding of the data and information.
-IT can help you transform data regardless of who did the discovery and analysis work.
-Larger organizations with many transactions, often use database software for storing
and transforming data.
-Transformation ---> Synthesis
Synthesis: The Sum of the Parts
-Synthesis allows you to interpret trends or patterns that seem to explain the past and
the present, and may suggest courses of action likely to favorable influence the future.
-When correlated and synthesized into a discernible pattern, there may be a potential
terrorist threat to deal with.
-While systems can provide the summary information, only people have the ability to
put this information into the proper context and draw conclusions from it.
-Synthesis ---> Communication
Communication: Sharing Analysis with Others
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