Lecture 25 - 10.27.2008 - AEM1200, Introduction to Business...

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AEM1200, Introduction to Business Management Monday 10/27 ICT and Business Information systems in business. The Internet revolution: “Does IT matter”? The Internet revolution: consequences. Types of Information Business Process Information Physical-world observations Biological data Public data Data that indicates personal preferences or intentions Information Characteristics Quality Information is accurate and reliable Completeness There is just the right amount of information Timeliness Information is received quickly Relevance Information is tailored for individual specific needs Costs of Data Acquisition cost Cost of obtaining data that you do not have; Processing cost Cost of turning raw data into usable information; Storage cost The cost of physically or electronically archiving information for later use and retrieval; Retrieval cost The cost of accessing already-stored and processed information;
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This note was uploaded on 08/28/2009 for the course AEM 1200 taught by Professor Perez,p.d. during the Fall '06 term at Cornell University (Engineering School).

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Lecture 25 - 10.27.2008 - AEM1200, Introduction to Business...

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