Posted: October 9th, 2022

Explain the four primary traits that determine the value of information.

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This is an activity that solidifies difficult concepts from this unit. Answer each question briefly but completely. If sources are used, they must be cited.
Explain the four primary traits that determine the value of information.
Describe the roles and purposes of data warehouses and data marts in an organization.
Identify the benefits and challenges of a connected world.
Lecture:
Chapter 6
It’s common knowledge that data is processed into information. But it does not stop there. The information must be useful to the processes it is being used to the end-user. Business intelligence is the art of extrapolating from gathered data and analyzing it into efficient and specific information for the decision processes that it will be applied to. So, what is good data for one organization may be bad or useless data for another.
Like any other resource data which becomes information has value. This value is identified by four primary traits. These traits are information type, information timeliness, information quality, and information governance. These all are different between one organization and another and from one level definitive organization to the next. The type of data must have some important news in the decision making process that is being required to. If the datatype does not fit the structure and processes of the organization then it may not be of any value to that organization. Timeliness of data is similar to the shelflife that we all run into with items we buy in the grocery store. Read that is too old to be sold as a center but can be used for breadcrumbs which holds a lesser value and for a different process. An example of this is data that is too old for one organization or department that might still be relevant and of value to another organization or department. The same values regarding timeliness are applied to quality. In this case also, what is good quality for one organization or process may be insufficient quality for another organization or process. There are several aspects that make or determine the quality of data which will result in the quality of information. The five common characteristics of high-quality information are its accuracy, completeness, consistency, timeliness, and uniqueness. All these have to be considered in the relative value and quality of the data and subsequent information.
As in all things of value the security of the valued items must be considered by the organization. Therefore, data and information that has a high value must have the appropriate levels of security. This is especially true today given the value of information being stored and the malicious intent of some to steal high-value data. In
It is important to know that given the propensity for things to change with or without our knowledge that the quality value of data and information must be scrutinized regularly. One should never assume the value or quality of data unless the elements that determine value are assured. Even the way in which data is stored and manipulated must be considered in determining its value. The amount of data used in business processes today is greater than ever before. It is said that in 15 to 24 months the amount of data captured and stored doubles globally. It is a very difficult concept to understand. But since the amount of data available to decision-making processes is so great that the term Big Data has been applied to this concept. It takes computers to manage this data with specialized applications as well as enhanced storage and retrieval processes. Consider the idea of Google being able to answer virtually any question we may pose to it. Just an added note for you here. How do we know that the information Google provides us is accurate? How do we know if the source providing the answer is correct?
No two databases are the same. These need to be catered to the purpose and rules necessary for the information to be of use and of value to the organization and that they meet its requirements and purpose. Given the amount of data available, today companies now specialize in providing storage and business intelligence and analysis as a service to organizations. It is a cost-effective way for companies to make sure that the data and resulting information holds the value needed. These systems have the capability to store and mine the data that is needed in the information processes of their client companies. This is like oil companies that extract the oil and process it so that many more can use its products. It is too expensive for one company to do all the processes for themselves. The way in which the data is analyzed must be catered to the needs of the end-user as well. Varying models are used in the analysis processes of data so that the necessary form and function of the information is of use to the decision processes of which it will be applied. Different databases must be used in order to meet this greatly varied need.
Chapter 7
According to Onnela, electronic databases, from phone to e-mail logs, currently provide detailed records of human communication patterns, offering novel avenues to map and explore the structure of social and communication networks (Onnela, et al., 2007). This means that the use of technology, in turn, defines future technology. All the data that’s being collected and analyzed is guiding decisions but impact every other business. The ability to communicate that technology gives us today allows for larger amounts of data to be utilized in the decision-making process. Connecting uses on a global basis enables global markets to be effectively managed. These networks need to be understood to the point of being able to utilize them effectively in the business decision. Every company large or small can’t be a global company. This is made possible by technology. This technology is networking and mobile devices used today.
Networks are of various categories such as Local Area Networks (LAN), Wide Area Network (WAN), and Metropolitan Area Network (MAN). These are normally based upon geographic connectivity. Notice on the block is called Personal Area Network (PAN).
Network providers or those who have the necessary hardware and software and can provide the interconnectivity of users and the Internet. The Internet consists of hundreds of thousands of computers connected and forming the World Wide Web. There are national service providers and regional service providers. These too are categorized by the geographic area in which they serve. Some examples of these are AT&T, Comcast, and AOL. These are the technologies that allow access to the big network we call the Internet. It consists of the protocols and hardware necessary for computers to function across the networks. Standardization is key for this to work which is why protocols are necessary and the hardware is developed based upon those protocol standards.
Network convergence is what is considered a disruptive technology. The reason for this is that companies have grown enormously whereas some have become absorbed or replaced and no longer exist. Not too long ago, telephone service and cable companies were their own networks. As technology developed these two major communication systems converged and now we find the single-line telephone today virtually nonexistent. With everything being put into one overarching system, security has become even more of a challenge to its users. Technology has started to make itself as secure as possible but each company still needs to create a network security policy that specifies aspects of its data integrity, availability, and confidentiality or privacy as well as accountability and authorization. There are several security methods, such as SSL and SHTTP to help protect the companies data. But the most threatening factor of security is the user. Social engineering is used by hackers to manipulate users to provide the necessary access to networks. A well-educated staff regarding social engineering methods can reduce the threat potential greatly.
There are external factors that impact the use of technology when it comes to networking on a global scale. The social, ethical and political issues that are constantly changing have a great impact upon the access and use of networks today. The fast increase of mobile networking for both business and commerce has made these ideas of external factors even more important to companies. Technology such as Bluetooth and access points made available to all users has changed the landscape for security threats and potential hazards to the everyday user of network communications. Most technology industry professional associations have developed and published ethics and security policies that they hold their members to. Companies also are normally required to have established policies and guidelines for their employees on information and technology use.
Networking is truly a global phenomenon. With networks being as close as one’s own 100-400 meter sphere to a global networking capability provided by the Internet. Security and a good understanding of how to use it is a necessity in today’s marketplace and society. A reasonable understanding of the hardware and processes of a global network when necessary for every manager to have. It is not necessarily just for communication from one person to another but also from one device to another device for information device for the user. Many people are using networking devices without understanding what they are using and the potential uses as well as threats that they may provide. Managers of any business mostly aware of the potential pluses and minuses of all technology they will use. These technologies should be understood so that they can be appropriately applied to their business processes.
Appendix C introduces us to the most common structure of databases. This is referred to as the relational database model. With businesses needing to store data and retrieve it with the greatest efficiency and timeliness as possible, relational databases have dominated the industry. These are based upon logically related, two-dimensional tables that must be developed with the operations and business needs well understood by the developers. Structure databases normally are and can be where complicated and thus require fundamental knowledge of the operations and relationships of data in order to have an effective and efficient database for the users.
References
Baltzan, P. (2019). Business-driven information systems (6th ed). New York, NY: McGraw-Hill Education.
Onnela, J.-P., Saramäki, J., Hyvönen, J., Szabó, G., Lazer, D., Kaski, K., … Barabási, A.-L. (2007). Structure and tie strengths in mobile communication networks. Proceedings of the National Academy of Sciences, 104(18), 7332–7336. doi: 10.1073/pnas.0610245104

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