Q. Define DATA and Information. How data is different from Information ? Discuss types of information.
Ans. MEANING OF DATA: Data can be defined as a representation of facts, concepts or instructions in a formalized manner suitable for communication, interpretation or processing by human or electronic machine. Data can be represented with the help of characters like alphabets (A-Z, a-z), digits (0-9) or special characters (+,-,*,>,<,= etc.)
MEANING OF INFORMATION: Information is organised or classified data so that it has some surprise value (meaningful values) to the receiver. OR
Information is the processed data on which decisions and actions are based.
Differences between Data and Information.
DATA | INFORMATION |
1. Data is Raw facts and figures. 2. Data itself has no meaning. 3. It does not help in decision making. 4. Data cannot be divisible. For example day, month and year. 5. In B.com examination, Anu got 45 marks in Paper 1, 50 marks in Paper 2 and 55 marks in Paper 3. Here marks obtained in different subject is example of data. | 1. Information is processed form of the data. 2. Information is always meaningful. 3. It helps in decision making. 4. Information can be divisible. For example Date_of_Birth. 5. Anu passed the B.com examination with 50% marks. Hence, Result of B.com exam becomes an information. |
Types of Information: There are three types of information.
1. Strategic Information is used by top management to plan the objectives of their organisation and to assess whether the objectives are being met in practice. This relates to long term planning policies of the organisation as a whole. Such information includes overall profitability of the organisation. Information requirements by top management are met by strategic information by arranging information from internal and external sources.
2. Tactical or managerial information is used by middle management to ensure that the resources of the business are employed to achieve the strategic objectives of the organisation. This relates to the medium time period planning and is of use at management control level. Such information includes productivity measurement (output per man-hour or per machine-hour), budgetary control or variance analysis report, cash flow forecasts, manning levels, profit results within a particular department of the organisation, labour turnover statistics within a department, short term purchasing requirements etc. A large proportion of this information will be generated from within the organisation. Another important function of tactical level is to supply information to strategic tier for the use of top management.
3. Operational information is used by operation level of management such as foreman or head clerks to ensure that specific tasks are planned and carried out properly within a factory or office etc. This relates to short periods which vary from an hour to a few days. Operational level require information for implementing and regulating operational plans for the purpose of conversion of inputs into outputs. Also it supplies routine and other information to tactical tier in summarised form.
Define DATA and Information. How data is different from Information ? Discuss types of information.
