Information vs knowledge

1. INFORMATION vs. KNOWLEDGE By: SAIRA KAZIM [email protected]

2. Information  is data that has been interpreted so that it has meaning for the user. "The price of crude oil has risen from $70 to $80 per barrel" gives meaning to the data and so is said to be information to someone who tracks oil prices. What is information?

3. Accurate- conveys the true situation. Timely- is available in time to make decisions. Useable- is portrayed in common, easily understood formats and displays. Complete- provides all necessary data. Precise- has the required level of detail Good information is:

4. Knowledge  is a combination of information, experience and insight that may benefit the individual or the organization. "When crude oil prices go up by $10 per barrel, it's likely that petrol prices will rise by 2p per liter" is knowledge. What is knowledge?

5. Difference between Information and Knowledge INFORMATION KNOWLEDGE Information… is much more refined data… that has evolved to the point of being useful for some form of analysis Knowledge resides in the user…happens only when human experience and insight is applied to data and information Information: Processed data… formalized, capture and explicated; can easily be packaged into reusable form Knowledge: Actionable information… often emerges in minds of people through their experiences Information is data put in context; it is related to other pieces of data. Information is about meaning, and it forms the basis for knowledge Knowledge… encompasses the belief s of groups or individuals, and it is intimately tied to action Information has been defined as data that is “ in formation” – that is, data that has been stored, analyzed, and displayed, and is communicated through spoken language, graphic displays, or numeric tables Knowledge… is defined as the meaningful links people make in their minds between information and its application in action in a specific setting Information is data with context. Knowledge is information with meaning Information is a flow of messages Knowledge is created by the very flow of information, anchored in the beliefs and commitment of its holder. Information… as message… in the (various) form of communication… to have an impact on judgment and behavior Knowledge is a fluid mix of framed experience, values, contextual information, and expert insights that provides a framework for evaluating and incorporating new experiences and information…

6. Information is processed data whereas knowledge is information that is modeled to be useful. You need information to be able to get knowledge. Information deals with the way data is related while knowledge examines patterns within a given set of information Summary