Data vs. Information

What is data?

• Individual facts or statistics

• Knowledge gained through study or research

• Organized interpretation of facts

• Perception of knowledge

What is information?

• Individual facts or statistics

• Knowledge gained through study or research

• Organized interpretation of facts

• Perception of knowledge

What is the key difference between data and information?

• Data is raw and unorganized, while information is organized

• Data is the perception of knowledge, while information is individual facts

• Data is qualitative, while information is quantitative

• Data is meaningless, while information is useful

Which type of data is provided in numerical form?

• Quantitative data

• Qualitative data

• Both quantitative and qualitative data

• None of the above

What is an example of data?

• Understanding changes to a website

• Identifying supply chain issues

• The number of visitors to a website in one month

• Determining if a competitor is charging more or less for a similar product

What is an example of information?

• The price of a competitors' product

• Inventory levels in a warehouse on a specific date

• Individual satisfaction scores on a customer service survey

• Determining seasonal temperature patterns

Why is the distinction between data and information important for businesses?

• Data and information are the same thing

• Data can drive smarter and faster business decisions

• Information is raw and unorganized

• Data is the result of analyzing and interpreting pieces of information

What can a knowledge management platform help businesses with?

• Organizing and interpreting data

• Creating a data-driven culture

• Maintaining a centralized source of truth

• All of the above

What percentage of companies are making decisions based on outdated information?

• 26%

• 30%

• 82%

• 100%

How can businesses leverage data and information?

• By ignoring data and focusing only on information

• By analyzing and interpreting data to make informed decisions

• By collecting as much data as possible without analyzing it

• By relying solely on outdated information