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Essay / Research Paper Abstract
This 12 page paper considers the quote "increasing the total stock of knowledge without prioritisation may simply make matters worse" in the context of information management, The paper discusses this by looking at the importance of transforming information into knowledge. The bibliography cites 14 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEinfomkm.rtf
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Unformatted sample text from the term paper:
increased emphasis on the gathering of information to help the decision making process. Input output models have emphasised the need for quality input of data so that the output will
be of high quality. In general terms the more information that is gathered and used the greater the quality of the output is perceived to be. However, information alone
is not sufficient, the information, if this is not placed in some sort of order it will not be useful. Information or data needs to be transformed into a usable
format so that value can be gained form it, otherwise the result will be information overload and the crippling of any system. Therefore, it is not only information, but organisation
and processed information that is value. This can lead to increased knowledge rather than only data which can also lead to competitive advantage in the way it is subsequently managed.
If we consider the position of a company in a very competitive industry, such as the aerospace industry, where there is the tendering for large contracts and information plays
a key role in many areas including the research and development of products, the manufacturing processes as well as the tendering and after sales service. Information is needed regarding
the state of technology and the products, the interests and need of the potential purchasers, the development and offerings of the competitors as well as many other areas of influence.
This is an industry where there s a great deal of information that needs to be considered, but the concept of information overload, or the inability to process all
of the information may result in decisions being made that do not take into account the most important pieces of data. This is characterised by the concept of bounded rationality.
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