Chapter 1 Flashcards
Section 1
Define Data
Raw unprocessed figures that have been collected about an activity or procedure
Define Information
Processed data that is now in a form that makes it valuable to the user for example the percentage increase in daily production
Define Qualitative Data
Data that can’t be measured
Define Quantitative Data
Data that can be measured
Define Discrete Data
Values / observations are distinct and separate, i.e. they can be counted
(1,2,3,….). Examples might include the number of kittens in a litter;
Define Continuous Data
Values / observations belonging to it may take on any value within a
finite or infinite interval. You can count, order and measure continuous data. For
example, height, weight
Define Primary Data
Data that has been gathered for the specific purpose by yourself
(interviews, questionnaires etc)
Define Secondary Data
Data gathered by someone else for another purpose that you are
using for your purpose
What are the attributes of good information
ACCURATE
Accurate
Complete
Cost beneficial
Understandable
Relevant
Authoritative
Timely
Easy to use
What are the two source types of data?
1) Internal
e.g.
2) External
e.g.
In terms of decisions how are organisations split?
Strategic
–decisions concerned with the long-term future of the organisation, its mix of
products and the markets it trades in
Managerial/Tactical
–decisions concerned with medium-term issues such as individual
products, customers and staffing
Operational
–decisions concerned with day-to-day activities affecting production and customer
service
Information requirements SMO: Time Horizon
S: Longer term
M: Short and Medium Term
O: Short Term
Information requirements SMO: Breadth Covered
S: Wide Focus
M: Fairly Wide
O: Narrow Focus
