1. How would you distinguish data and information? Information and Knowledge?
2. Identify at least 6 characteristics of valuable information.
3. What is a computer-based information system? What are its components?

Data are the raw facts. For example the grocery store manager’s list of every item sold today. Alone it is rather useless, trivial in fact. Comparing the actual total sales with the planned sales, gives added value and meaning, becoming information. Knowledge is an awareness and understanding of a set of information, and ways that information can be made useful to support a specific task or reach a decision. (Stair and Reynolds, 2003)

Accuracy, completeness, economical, simplicity, timeliness, and flexibility are just 6 characteristics of valuable information.

An information system is a set of interrelated elements or components that collect [input], manipulate [process], and disseminate [output] data and information, and provide feedback mechanisms to meet an objective. (Stair and Reynolds, 2003) Thus a computer-based information system (CBIS) is one that inputs, processes, and outputs information using computer technologies. Components of a CBIS fall into groups of hardware, software, telecommunications, databases, people and procedures.

Stair, R.M., & Reynolds, G.W., (2003). Fundamentals of Information Systems, 2nd Edition.Thomson Learning.