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Turning Data into Information for Decision Makers...

Describe the type of data that businesses process and correlate for us how that data is transformed into information. Is it a mostly manual process or automated process? In terms of system integration (or lack thereof), discuss how any comprehensive reports prepared for decision-makers are compiled by your company, past or present.

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We turn data into information mostly by summarizing it, by extracting exceptions or exemplars, and by classifying it into segments. The computer does a terrific job of identifying exceptions or exemplars if we give it the rules. For example, it can find any invoice over 60 days old when it was paid. Or it can find the lowest price ever paid for a particular raw ingredient. Data that would overwhelm a person, can be summarized by branch, by manager, by product, and by segment of the business. Even the income statement is an example of "data" (all the transactions) that have been turned into "information" by ...

Solution Summary

Your response is 382 words and describes automated, manual, and non-integrated reports that take data and compile it into information for our business.