Textbook Notes (362,755)
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MCS 2020 (68)
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Chapter 2

Chapter 2 Marketing Info Management Notes

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University of Guelph
Marketing and Consumer Studies
MCS 2020

Chapter 2 Information Management Information Concepts21 What is Information Resolving UncertaintyWhen you ask people to define the word information there are many different answersData isnt the same as information it is the combinations of symbols arranged according to a set of rulesInternational Standards Organization defines info as The meaning that a human assigns to data by means of the human conventions used in their representationsInformation is VEY hard term to describe Info is about making an impact Use info to resolve or clarify uncertaintyInfo is lifeless if it have no one to add meaning or perspective to it22 Knowledge Hierarchy Building Blocks of KnowledgeData information knowledge and wisdom are similar but separate conceptsWISDOMInvolves applying moral or ethical judgmentMoving beyond knowledge to deeper understandingof principles KNOWLEDGEKnowledge can be acquired through instruction orexperience It is actionable or useful information
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