Data vs Information

Data - refers to raw facts that we can collect about entities- people, objects, and events.

Information - refers to processed data – which gives meaning to the raw facts.

Knowledge - relevant and objective information that helps in drawing conclusions.

Information Management

Choo (1995) defined information management (IM) as the management of processes and systems responsible for acquiring, creating, organizing, distributing, and using information.

In his discussion about Information Management, there are six related activities involved in IM:

• Identification of information needs
• Acquisition and creation of information
• Analysis and interpretation of information
• Organization and storage of information
• Information access and dissemination
• Information use and archiving

Importance: IM is about ensuring that information is available to the right person, in the right format at the right time.

DIKAR Model

One of the associated models in information management is the DIKAR model. This model shows the transition of raw facts into information; then, from information, knowledge can be derived. And from the knowledge, we can identify the action needed to achieve the desired results. Knowing this model helps organizations identify the technology needs to assist in the efficient transformation of data for their business needs.

Data → Information → Knowledge → Action → Result