According to Machlup (1983, p. 642), the original meaning of the word information derives from the Latin word informare, which means "to put into form". Putting into form is sometimes referred to as organising, structuring or engineering. Putting into form makes for efficient and effective use and management of information.
Information
is both a strategic resource and a commodity. As a strategic resource, information has the ability to
provide a competitive advantage to businesses. As a commodity, the concept is one of an information production chain that produces value through the exchange of information between people and related activities. The implication is that there are buyers, sellers and of course a market!
Because information comes in an assortment of forms, from a variety of sources, with varying degrees of details, for a multiplicity of uses, having it well organised augurs for efficient and effective evidence-based practices. In so doing, your organisation can improve its capability to learn, adapt and grow.
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Information goals- to serve as a compass for action
- to reduce uncertainty
- to transfigure into knowledge
Information objects
- human (employees, customers, students, criminals, tourists)
- textual (documents, books, e-mail)
- numerical (statistics)
- electronic (databases, internet)
- audio (music, recorded speeches)
- visual (maps, logos, diagrams, charts)
Information Uses
- make decisions
- formulate policies
- select alternatives
- improve processes
- improve products and services
