The paper "Porter Five Force Model Issues" is a great example of a Management Assignment. It thereby shows data leads towards information and then towards knowledge. Data is thereby the information which may be facts, figures or numbers which are obtained from some experiments or calculation. Information, on the other hand, is retrieving or gaining vital inputs from the data that has been provided and communicates about a particular subject and provides the required direction. Knowledge, on the other hand, is the awareness and possession of information that is true and correct and will help to simplify facts and is based on truth. An example in this direction is the raw numbers that are collected regarding population ages.
Drawing information and finding out of it which can be used for future reference is the information and verifying the same and having actual truth and facts transforms into knowledge. Thus it is a series of step which leads from one step to the other. When we consider it from the point of view of operational database systems and data warehouses it is seen that the information is stored in the form of data.
When a command or a program is executed it results in creating an algorithm through which the data is processed and important information is retrieved. This information transforms into useful knowledge that can be used in the future and helps to provide the required direction and path through which useful decisions are made. The data thereby stored in operational database systems and data warehouses is usually in the form of bits and bytes which is the raw data that gets converted into valuable information and knowledge when a command is executed to perform a function. 2.
An information system is defined as an arrangement where the different elements help to gather the useful information through which proper decisions can be taken and help to bring a degree of control to some of the functions within the organization. An example in the direction is that information about the demand will help to determine the production schedule accordingly and will help to reduce the up and downs that the system faces. This is thereby dependent on strategic, tactical and operational levels at which the functions are carried out. The strategic level looks towards identifying the mission and vision of the organization and looks towards making strategic decisions that will determine the long term working potential of the organization.
Some of the major strategic decisions which an information system leads towards are the place where the equipment will be set, change in technology and so on. Tactical level decisions are the ones that are taken by middle-level managers and are taken with the purpose of ensuring that the strategic objectives which have been decided can be achieved.
At this level, the managers break down the objectives into smaller ones and pass on the objective to the different employees and managers by providing the required authority so that they can act and achieve the objective. Example in this direction includes product pricing