Information, in a broad sense, is structured, processed and organised data. It gives context to other data and allows effective decision making on behalf of the user. For instance, a single customer’s sale in a particular restaurant is data versus the knowledge of that customer (that is, the restaurant’s experience). If we can take this example further, we can see that data is used to interpret the customer experience and make informed decisions.
However, the question is how does information get from users’ experiences and how does it get interpretation? Information exists in the form of documents, systems, presentations, videos, audio clips etc. To get information to people, it must be communicated effectively. So how does information get from users’ experiences and how does information become interpretation? That is what is called information science or data analytics tools.
There are two ways to view the question posed above. Either information exists without data, meaning that people do not need to analyse or interpret data in order to understand it; or data actually exists but cannot be effectively understood by people, meaning that people must interpret or analyse it in order to understand it. So which is better: to view information exists without data as meaningless or to view information as meaningful to the extent that people have to interpret it in order to understand it? The answer to this question depends largely on what you want to achieve.
If you want your information to influence business decisions and improve your bottom line then using a combination of traditional data analysis tools and business analytics tools is a good idea. However, if you want to provide information on the emotional makeup of a customer or supplier so that you can provide more relevant and engaging services or if you want to understand customer habits so that you can provide better customer support than information on those aspects cannot be ignored. Using both methods together will provide a balanced picture of your customer’s experience with your company.
So which is better? Viewing information as worthless or viewing it as meaningful and important is really a personal choice. Some people view data as relevant and important, while others view it as irrelevant and meaningless. Which do you want to be? The answer is: information is the best form of understanding for human understanding and the only way to make sure you understand a concept completely is to gather as much information as you can on that topic. The problem is collecting that information and storing it effectively in the form of business analytics tools.
Data analytics provides analytics and knowledge extraction from large quantities of unstructured data in the format of structured and easy-to-understand formats and that is what allows companies like Info Analytics to deliver insights from the masses into extremely valuable insights. It also gives organizations an edge in today’s competitive markets. The beauty of data analytics and big data is that businesses can get the leverage they need to be on top now and stay there tomorrow by fully leveraging the knowledge and insights that these advanced analytics and data analytics tools provide.