Lec3_Digital+Economy+II

Lec3_Digital+Economy+II - ISOM 101: Introduction to...

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ISOM 101: Introduction to Information Systems Lecture 3: Digital Economy II Prof. Heather H. Xu
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Admin. Issues Photo • Hand to me AFTER this class Team formation Industry week • Week 12 • Check LMES for updated Syllabus
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Part I: Issues from last lecture
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The True Story of the Internet Q3: Jeff Bezos or Pierre Omidyar, which one is a data junky? -- Jeff Bezos Q4: Who is obsessed with analysis and strategically planning? -- Jeff Bezos
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What is Information? Knowledge derived from data Data presented in meaningful context Processed data Data processed by summing, ordering, averaging, grouping, comparing A difference that makes a difference
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Good Information Accurate • Correct and complete • Crucial for management • Cross-check information to ensure accuracy Timely • Produced in time for intended use Relevant • Context • Subject
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Good Information, cont. Just Barely Sufficient • Sufficient for purpose for which generated • Do not need additional, extraneous information Worth Its Cost • Relationship between cost and value • Information systems cost money to develop, maintain, and use • Must be worth the cost
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Good Information Characteristics SMART Information S
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This note was uploaded on 07/30/2011 for the course ISM 101 taught by Professor Lily during the Spring '11 term at HKU.

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Lec3_Digital+Economy+II - ISOM 101: Introduction to...

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