Topic 2A: Data and Presenting Information Flashcards
What is primary data?
This is data this is collected for a specific purpose
What is secondary data?
This is data which has been collected elsewhere for some other purpose but can still be used or adapted for the survey that is being done
What is numerical data
This is data expressed in numbers which can be discrete or continuous
What is machine/sensor data?
This is data that comes from the output of devices hat detect input from their surroundings
What is transactional data?
This is data that comes from the transactions of an organisation
What is human/social data?
This is data from humans and is often not numerical. This kind of data sometimes includes data about the social media user such as their location. Can be more difficult for data analysis software to handle
What are the different sources and costs of data?
Machine/sensor data
Transactional data
Human/social data
What are examples of machine/sensor data?
Wearables such as fitness trackers
Smartphones
Temperature sensors
What are examples of transactional dataa?
Sales orders
Purchase orders
Returns
What are examples of human/social data?
Customer queries
Handwritten letters
Focus group feedback
Social media posts
What are the different financial sources of information (internal)? (6)
- Financial accounting records
- Payroll and HR information
- Production information
- Time sheets
- Published accounts
- Historical records
What are the different types of information costs?
The costs to an organisation can be divided into:
direct data capture costs
Process costs
Indirect costs of internal information
What are examples of direct data capture costs?
Use of barcoding and scanners
Use of OCR (OPTICAL character recognition) - to capture data from printed documents
Use of ICR (Intelligent character recognition -to capture data from handwritten documents)
Use of RFID to identify locate and to track
What are examples of process costs ?
Payroll department time spent processing and analysing personell costs
Time for personnel to input data onto the management information system
What are the indirect costs of producing information?
Information collected but not needed
Information stored long after needed
Information spread more widely than needed
Collection of information by more than one method
Duplication of information
