Data and information are two terms that are often used interchangeably in business settings. Describe the differences between the two terms and provide an example to illustrate the business uses of data and information
What will be an ideal response?
1 ) Data are the representations of a fact or idea. They may be a number, a word, an image, or a sound. Information is data that have been organized or arranged in a way that make them useful.
2 ) Getting information from raw data is critical to the success of many business enterprises. Businesses try to use all the resources at their disposal to gather raw data. For example, media, credit bureaus, and information brokers often purchase data made public in court proceedings.
3 ) These data are processed into useful information for that business or later resold to other companies. For example, a health club may request a list of recently divorced women from family court. The health club's plan is to process that raw data into a mailing list of a specific target audience for its membership services.
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