Finding the Right Balance as a Manager

With so much data being collect by organizations. It can be a challenge to know how to manage and analyze it properly. Enter data management systems and tools… Data management systems help organizations optimize the use of data to make decisions and take actions that will maximize the benefits to the organization. The systems do this by collecting. Processing. Securing. And storing data in a way that can be us for strategic decision-making. This can be explain further by looking at the dikw pyramid.

What role does each of the steps play

The dikw pyramid the dikw pyramid the dikw pyramid represents the relationship between data. Information. Knowlge. And wisdom. Each building block is a step towards answering different questions about data collection and adding value to it. You can answer questions like. Where are my sales likely to come from next year or who are my top customers? The more data that can be enrich with meaning and context. The more knowlge and insights can be extract. What role does each of the steps play? Let’s look at each of them in turn and then at the tools applicable to each. Data this step on the pyramid refers to the collection of discreet facts about events in the form of numbers. Characters.

The key activities to be perform at this stage ar

This is every piece of data that is being captur. Known as raw data. The key activities to be perform at this stage are: identifying a reliable source to get data archiving and deleting irrelevant data information once irrelevant data has been remov. The task is to seek out key pieces of information from the data. This information should be relevant to the organization. And its decision-making. Knowlge using the key pieces of information from the data. You can then develop them into knowlge. In essence. This means deciding if the information can be develop into something of intellectual value and us to help formulate a robust strategy. Wisdom if something has been discover in the data that competitors have yet to unearth. You could translate this knowlge into core insights.

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