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›   

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‡ 4
Data consists of raw facts, such as an
employee number, number of hours
worked in a week, inventory part numbers,
or sale orders.
› ›
›nformation is a collection of fats organized
so that they have additional value of the
facts themselves
M  4
‡ Knowledge is the awareness and
understanding of a set of information and
the ways that information can be made
useful to support a specific task or reach a
decision.
   

  

‡ A system is asset of elements or


components that interact to accomplish
goals. The elements themselves and the
relationships among them determine how
the system works. Systems have inputs,
processing mechanisms, outputs and
feedback.

     
‡ › : This consists of elements that goes into the
system and get processed. ›nputs come from the
environment-both internal and external. These must be
captured or secured or purchased and organized in
advance for further processing.
‡   This is nothing but the information
process which converts the inputs in to the specified
outputs. The transformation process includes:
‡ Technology
‡ Manufacturing processes
‡ Operating systems
‡ Mathematical calculations
‡ Administrative processing.
‡  : The output may be goods and or
services, the sale of which will bring in profits to
the organization. Output is the resultant of the
transformation process which takes in the
required inputs.
‡   : ›t is nothing but a data about the
performance of a system. Feedback is a
continuous process and is obtained on all the
basic components viz, input, process and output.
All these basic components may undergo
changes due to the happenings in their
environment. Such changes should immediately
be brought to the focus, which will enable the
management to set things right, in the form of
control.
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