MIS304 Information Systems for Business Assessment
- Subject Code :
MIS304
- University :
Torrens University Exam Question Bank is not sponsored or endorsed by this college or university.
- Country :
Australia
What Is Data
Data
- Data is everywhere. The amount of digital data that exists is growing at a rapid rate, doubling every two years, and changing the way we live.
Where has all data come from?
- In 2020, about 1.7 megabytes of new information is created every second for every human being on the planet, which makes it extremely important to know the basics of the field at least.
Data
- Data can be presented in form of text, pictures, sounds, videos, numbers, tabular information, binary sequences, alphabets, symbols, facts, figures, statistics and data bases.
- organised or unorganized form.
- It can be refined or raw, quantitative or qualitative, structured or unstructured, sequential or random.
How data is stored?
- Computers represent data as binary values: 1 and 0.
- A bit is the smallest unit of data, and represents just a single value. A byte is eight binary digits long: 00110101
Data Literacy
- Willingness to engage with data
- Ability to engage with data
- Confidence to engage with data
- Acquire and construct meaning from data
- Communicate meaning from data
- Take data driven decisions
What is data literacy?
- Gartner defines data literacy as the ability to read, write and communicate data in context, including an understanding of data sources and constructs, analytical methods and techniques applied, and the ability to describe the use case, application and resulting value.
- Further, data literacy is an underlying component of digital dexterity — an employee’s ability and desire to use existing and emerging technology to drive better business outcomes.
- Poor data literacy is ranked as the second-biggest internal roadblock to the success of the CDO’s office, according to the Gartner Annual Chief Data Officer Survey.
- By 2023, data literacy will become essential in driving business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.
Data Sources
- Operational systems
- Data collection(campaigns, surveys etc)
- Social media
- System generated
- Compliance data
- IoT
Data Characteristics
- Accuracy
- Validity
- Reliability
- Timeliness
- Completeness
- Availability
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