Data, Information, Knowledge and Knowledge Management INF20016 Tutorial 1 (Online & Independent Learning) Tutorial 1 Objectives: 1. To independently explore the concept of "Data", "Information", "Knowledge", and "Knowledge Management"; 2. To independently explore the Library facilities in order to find the appropriate reading materials; and 3. To gain familiarity with some of the key issues and concepts fundamental to the Big Data Management. Please make sure you read through the segment on Data, Information, Knowledge and Knowledge Management (see p2 onwards). After reading through the segment on Data, Information, Knowledge and Knowledge Management, please address the following and submit your response to the discussion board. Exercise 1 What do you think of the strategic value of data for an organization in the era of increasing business competition? Exercise 2 Knowledge management is essentially about the management of intangibles (know-how, experience etc). The importance of intangibles as reflected in the frequent differences between book and market value, is reflected at organisational, national and international level. It is impossible to understand knowledge management without grasping the nature and true significance of intangibles. In this context, think about and address the following: • The company/organisation where you work or have worked, list some examples of key data, information and knowledge. What intangibles would typically be found there? • The concept of metrics for intangibles. Can these intangibles be "measured"? How? 1 | Page --
Data, Information, Knowledge and Knowledge Management Data, Information, Knowledge and Knowledge Management fundamentals This unit focuses on big data management. However, to be able to understand the context of big data management, we also need to look at the two related concepts of information and knowledge. The aim of this topic is to convey a clear understanding of the relationship between data, information and knowledge, with a particular emphasis on the importance of knowledge management to modern organisations. Knowledge management is multidisciplinary in nature and embodies inputs from a range of management disciplines, and from information science and technology management. It emerged from the convergence of globalisation and the nexus of organisational and technological change, developments which have resulted in fundamental changes both to economies and to organisations. Central to such changes is recognition of knowledge as the most valuable resource available to organisations and as the most likely source of competitive advantage. The management of knowledge is an ambitious undertaking, not least owing to its inherently intangible nature, but management disciplines can be applied to stocks and flows of knowledge, to systems and technologies, to processes and capabilities and in proper circumstances to people. This lesson will cover the fundamentals concepts of data, information, knowledge, and knowledge management. Objectives: Upon Completion of this lesson, students should be able to: Describe the relationship between data, information and knowledge Explain developments in the New Economy and in particular the place and nature of knowledge in such developments ? Understand the nature of organisational knowledge Explain the principles of knowledge management. Identify key issues in knowledge management Recommend information systems for