In Knowledge management why is it important to differentiate between information, data and knowledge?

Expert Solution

1. Knowledge management refers to multidisciplianary approach to achieve organisational objectives by making the best use of knowledge, In this information technology era, data are easily accessible and readily available. Its the compelling duty of users of such data to process and bring out the inbuilt information,

2. if Data are considered as raw material then information is nothing but processed data or finished product. To put it elaborately, raw data have to be processed in order to retrieve benefit out of it.

3. For example: prices fluctutations of a share in a year can be easily extracted from internet but finance analysts have to find the price trend from the available data so that probable price of the share in future can be ascertained.

4. knowledge refers to expertise gained in a subject through accumulation of information and data. So starting point is data and point of destination is knowledge. Thus, it is very imperative to understand the difference between information, data and knowledge which would ensure the efficient and effective knowledge management

jeff jeffy answered 2 years ago

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