Week 1 - FCC123

In these sessions, I have learned the differences between data and information, the economics and problems associated with information management. In deed, the lectures I have learned in this week help me to understand clearly about the data and information. Data is raw facts. It can be in the form of numbers, characters, symbols, pictures or even sounds. In the same way, information is data that is organized and meaningful. Computers process data into information. 

I also have learned about what data integrate is (degree to which data is correct), Garbage In, Garbage Out (GIGO). I have known seven qualities of valuable information which are accurate, verifiable, timely, organized, accessible, useful and cost-effective. Observations and recording are done to obtain data, while analysis is done to obtain information. 

I have learned about the economics of information.  In today economics, Information Technology (IT) has fundamentally transformed information availability, changing the economics and business practices in a wide range of industry. I also have learned about the economics role of information. Information has two elements: Reach and Richness. Richness has three component: bandwidth, customization and interactivity. I also have learned about the connectivity and Standards.

I have learned about Infomation Management (IM). IM is the collection and management of infomation from one or more sources and the distribution of that infomation to one or more audiences. I also have known some problems associated with infomation management which are little integration or coordination, direct competition between information management systems, no clear strategy direction, limited and patchy adoption of existing information system by staff and poor quality of information.