1.

Data vs. Information vs. Knowledge

Data are recorded (captured and stored) symbols and signal readings.

Ø      Symbols include words (text and/or verbal), numbers, diagrams, and images (still &/or
video), which are the building blocks of communication.

Ø      Signals include sensor and/or sensory readings of light, sound, smell, taste, and touch.

Information is a message that contains relevant meaning, implication, or input for decision
and/or action. 

Knowledge is the (1) cognition or recognition (know-what), (2) capacity to act (know-how), and
(3) understanding (know-why) that resides or is contained within the mind or in the brain.
Components of Information System
An Information system is a combination of hardware and software and telecommunication
networks that people build to collect, create and distribute useful data, typically in an
organization.

1. Computer Hardware: 
Physical equipment used for input, output and processing. This also includes computer
peripheral devices. 

2. Computer Software: 
The programs/ application program used to control and coordinate the hardware components.

Software is further classified into 3 types: 

 

1. System Software
2. Application Software
3. Procedures
3. Databases: Data are managed using Database management system. This used for organizing
and serving data to the user, managing physical storage of media and virtual resources. 

4. Network:  Networks resources refer to the telecommunication networks like the intranet,

extranet and the internet. Telecommunications networks consist of computers,
communications processors, and other devices interconnected by communications media
and controlled by software.

5. Human Resources: It is associated with the manpower required to run and manage the
system. People are the end user of the information system, end-user use information produced
for their own purpose, the main purpose of the information system is to benefit the end user.
Using Information Technology to gain a Strategic Advantage in Marketplace.
1. Information technology has given business the tools to  solve complex problems.

-Improved hardware  combined with smarter applications, have made it easier to research data,
analyze it, and plan scalability. Many tools or technology is available to solve complex problems.

2. Information technology allows businesses to  make better decisions.

Good decisions in business are based on  solid market research.  This can be done through
engaging teams through video conferences, reviewing public sentiment on social media and
industry forums, and using online surveys to get customer feedback. 

3. Information technology has  improved marketing.

Internet marketing using online advertising methods are far more accurate ways than traditional
marketing of finding target audiences, discovering their needs, and building a marketing
campaign to persuade them to buy.

4. Information technology has  improved customer support.

Customers can receive support from multiple channels telephone, emails, social media platforms,
webinars, and so on. Additionally, customer relationship management systems help businesses
understand customer behavior.

5. Information technology has  improved resource management.

Cloud computing allows a company’s employees to use any device anywhere in the world to
access their enterprise level software.