Data Information and Knowledge

Data is facts and numbers that hasn’t been modified or analysed for example times and numbers. When data is by itself it has no meaning to it however information by itself does have a meaning.

Data is defined as useful raw material which is intended to be useful for both the originator and for the intended receiver. Data consists largely of facts and figures ideal for communicating the intended meaning. This data can be interpreted and can be categorised as follows;

- Information: is a knowledge which can be transferred or received concerning a particular fact or situation. And is a sequence of symbols that can be explained as a message. Information can be recorded as signs, or transmitted as signals.

Data is the form of input, which can be produced into information. For example, 5000 could be the value of a piece of data that a business has. By adding context to this, for example if an organisation sold 1000 sandwiches in a week; this becomes information, which will influence important decisions

Information is data that has been processed so that it has meaning and value to a recipient,

Data comprises of factual information. Data are the facts from which information is derived. Data is not necessarily informative on its own but needs to be structured, interpreted, analysed and contextualised. Once data undergoes this process, it transforms in to information. Information should be accessible and understood by the reader without needing to be interpreted or manipulated in any way.

Data are raw facts that have no meaning until they are processed and organized to identify patterns and relationships between the data elements.

Information: It is interpreted data which has been given meaning. It answers questions such as “who”, “what” and “where”. It is data which is organized and structured.

The ability to manage information plays a critical role in developing a firm’s capabilities in customer relationship management, process management and performance management (Mithas, 2011).

Information is data which is accurate and timely specific and organized for a purpose presented within a context that gives it meaning and relevance. Information can lead to an increase in understanding and decrease in uncertainty.

Information is data that has been processed in such a way as to be meaningful to the person who receives it. Businesses need information that is relevant to them.

The United States wine industry is a 12 billion dollar industry and is composed of 7,000 wineries and around 1,800 different companies. The three major companies within the industry are Constellation brands, E&J Gallo, and The Wine Group Inc. The industry has made its way through the economic crisis at a better rate than some of the other U.S industries however in order for them to continue to see any type of growth it is important that they acknowledge their issues and find ways in which they can rectify them. The majority of the issues among the industry are problems that cannot be directly controlled by individual wine companies. Therefore it is imperative that wineries find away to use these issues to their

Metastructures are concepts which are all encompassing. These concepts are used in theory and in science (McGonigle & Mastrian, 2012). The concepts of “data, information, knowledge, and wisdom are used as a framework for understanding clinical information systems and their impact on health care” (McGonigle & Mastrian, 2012, p. 97). Through the works of Graves and Concoran, they show a relationship between data, information, knowledge, and wisdom. A transformation occurs between each level and with that there is an increase in the complexity which requires a higher level of human intellect for application of concepts to take place (American Nurses Association, 2008). The purpose of this paper will look at a chosen clinical question while using the continuum of data, information, knowledge, and wisdom to research this chosen question, to determine if informatics can be used to gain wisdom.

Knowledge can refer to a theoretical or practical understanding of a subject. It can be tacit (as with practical skill or expertise) or explicit (as with the theoretical understanding of a subject); it can be more or less formal or systematic. Botha et al (2008) pointed out that tacit and explicit knowledge should be seen as a spectrum rather than as definitive points. Therefore, in practice, all knowledge is a mixture of tacit and explicit elements rather than being one or the other. The most important distinction within KM is between explicit and tacit knowledge. The overload of data is making knowledge management increasingly more important as it facilitates decision-making capabilities; builds learning organizations by making learning routine, and stimulates cultural change and innovation.

For the purposes of this case analysis of E. & J. Gallo Winery, the wine industry is composed of all alcoholic beverages that contain between eight and twenty percent alcohol by volume. This distinction is based on the assumption that beer and the typical malt liquor contain less than eight percent alcohol by volume. The twenty percent limit is a result of state and federal tax and licensing laws. The three top competitors that are identified in this case study are E. & J. Gallo, Canandaigua and Mogen David.