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Meaningful Data

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MEANINGFULL DATA AND INFORMATION.
Data consist of raw facts, such as customer names and addresses. For data to be meaning full, it must be collected to constitute information. Information is a collection of data or facts organized in such a way that it has more value beyond the individual pieces of data themselves. For example, a set of data of customer names and purchases might provide information on a company's market demographics, sales trends, and customer loyalty or turnover. Every purpose data or collecting data is to transform them to information. Turning data into information is a process or a set of logically related tasks performed to achieve a defined outcome. This process of defining relationships between various data requires knowledge. Knowledge is the body or rules, guidelines, and procedures used to select, organize, and manipulate data to make it suitable for specific tasks for a specific period of time. Consequently, information can be considered data made more useful through the application of knowledge. The collection of data, rules, procedures, and relationships that must be followed are contained in the knowledge base.

Companies face increased pressure to provide higher quality information faster and more efficiently. They want more transparent information in less time. There are demands that information must be faster with more transparency and come from every angle meaning they shouldnt be just providing information from one perspective . Many people require access to more reliable information within shorter periods of time. leaders require fast, accurate information to support decision making. Inefficient reporting ties up valuable time and resources, obscures transparency, increases the risk of errors, and causes organizations to base critical business decisions on incorrect or incomplete information. Companies must report faster with

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