Business Information Systems and Knowledge Management - Assignment Example

1. Data, information and knowledge have a relationship among themselves. Data is “stored and captured symbols and signals readings”. (Liew, 2007) Information is “a message that has relevant meaning for decision making”. (Liew, 2007) Knowledge is “value creation for the stakeholders”. (Liew, 2007) The relationship is often pyramid shaped. The relationship is such that ‘first data is collected and stored which is then converted into useful information which has some meaning so that decision can be made on the basis of it and then it is converted to knowledge so that it can be utilized time and again”. (Shawn, 2006) It looks as follows This knowledge leads to knowledge management as it is “identifying, developing and communicating employee skills, experience, and knowledge in order to drive innovation and corporate efficiency involving a gamut of activities”. (Kudyba, 2003) This thus leads towards better effort and coming up with new process ensures that the company is ahead of its competitors and can improve its productivity. 2. Online advertising is gaining popularity and has been widely successful due to varied options it gives. Some of the online advertising options available are electronic catalog marketing. Here “the provider using electronic medium like e-book or an auto responder form and also provides catalog so that the customer can view the products and services” (Shetty, 2010) The companies can also use banner advertising. Here the “companies advertise their products using banners on top of websites or blogs and the charges vary depending on the popularity of the site”. (Shetty, 2010) This ways are widely used as it provides the following advantage. Firstly, “companies can cater to a large area” (Lendor, 2010) as the spread of internet is very wide. Secondly, “targeted market can be decided by ensuring that people who surf through the products buy” (Lendley, 2010) ensuring that bottom line improves. Despite this it has the following disadvantage Firstly, “bigger advertisement catches more attention but due to the cost involved it is not feasible”. (Lendley, 2010) Secondly, “not all search engines accept all the options” thereby reducing the efficiency. 3. Linked data is a term used to describe a “recommended best practice of exposing, sharing and connecting pieces of data, information and knowledge on the Semantic Web using URI’s and RDF”. (Linked Data, 2010) This will help in the process and ensure that decisions are faster. This according to Tim Berners Lee will work on four principles. Firstly, “using URI’s to identify things”. (Lee, 2009) Secondly, “Using HTTP URI so that things can be referred and looked up by people and agents in a better way” (Lee, 2009) to arrive at better decision thirdly, “provides useful information about the thing when URI is dereferenced”. (Lee, 2009) and lastly “include links to other related URI’s in the exposed data to improve discovery of their related information on the web” (Lee, 2009) This entire process will ensure that valuable time is saved and being used by only authorities will preserve the nature of data. This at the same time will help to get large data on a common ground thereby ensuring quicker developments. 4. The relationship among data, information and knowledge is such that one leads to the other. This helps to “make relationship among the event i.e. data transforming to information and then following a regular pattern leading to knowledge”. (Bellinger, Castro & Mills, 2004) It thus enhances the management process and improves productivity. This process gets translated and helps the management to come up with new techniques used their past knowledge and improve production. 5. The relationship between data, information and knowledge translates into productivity which helps to enhance the knowledge management process. It thus leads to “not merely focusing on investment in new forms of technology but enhancing productivity by using and combining all the available resources within the organization” (Kudyba, 2003) thereby making the system more efficient. This helps to measure the performance and put an effort towards the right direction. 6. The effectiveness of online advertising can be seen by the use of pay per click ads. Here “the companies pay only when their option is searched and there is no fixed pay”. (Shetty, 2010) the advantage it offers is that it is less costly. This helps the company to define a certain sum for it. Despite this the disadvantage is that this method not always gives the desired result. 7. The use of e-mails to advertise the products speaks volume about the success of this medium. Here “companies send mails to every respondents and thereby ensuring that their product is marketed to a lot many customer”. (Shetty, 2010) The advantage they have is the huge penetration level of internet giving a wide customer base. Still if faces the obstacle that people generally don’t respond to these mails and these mails find a place in the spam folders. 8. Linking business data to the web already has many takers as it will bring a lot many things under one umbrella. It will help companies who have their offices at different countries as linking them to the web will ensure that any concerned authority be it the human resource or marketing department will be able to retrieve the information and integrate those in their own decision making process. 9. Linking data will result to take business places. It will ensure that the frustration level reduces and will also help timely delivery of services. It will ensure that customers’ grievances are solved. This would also result in finding the growth and development in other countries along with the pay nature. It will ensure that there is transparency and at the same precious time and money is saved as it will be less costly compared to other medium. 10. Data, information and knowledge go hand in hand. It is such that “data is integrated in information and information is integrated in knowledge thereby transforming itself to benefit and enhance productivity”. (Kingsley, 2006) This brings about a change in the perspective and makes the entire department to work towards the well being. This process helps to identify the errors and in the future helps to omit them thereby improving productivity. 11. The wide presence of online directories also shows that internet advertising is widely gaining prominence. Here “the companies list their products and address and telephone numbers on different directories like yahoo, local.com, insider pages which have a mass reach”. (Shetty, 2010) This helps as the expenses is fixed and only the interested customer will look for it. The disadvantage is that it limits the growth as only customers who know about it will look for the company thereby reducing the customers. References Bellinger G, Castro D & Mills A, (2004), “Data, information, knowledge and wisdom”, Journal of Applies System analysis Kingsley I, (2006) retrieved from on February 3, 2010 Kuydba S, (2003), “Knowledge Management: the art of enhancing productivity and innovation”, Information Management Lendley C, (2010), “internet promotion: advantages and disadvantages” retrieved from on February 3, 2010 Lee T, (2009), retrieved from on February 3, 2010 Liew A, (2007), “Understanding data, information and knowledge and their inter relationship”, Journal of Knowledge management practice, Volume 8, Issue 2 Linked Data, (2010), retrieved from on February 3, 2010 Shawn, (2006), “Data, information and knowledge: a sense making perspective”, the 1st annual symposium on sense making Shetty K, (2010), “Online advertising options”, retrieved from on February 3, 2010 Read More