Already fully immersed in the Data 4.0 era, the importance of data is not questioned: it is increasingly central to the strategy of companies. In this context, it is relevant to understand the difference between data and information and why they increasingly occupy a leading place in the management of data in an organization.
It is true that they are terms that are closely linked. But beyond some similarities and without going into technicalities, data and information are not synonymous.
The Meaning And Its Impact On The Business
Why are the terms of real-time data and information different?
Data: when we talk about data we are referring to a symbol or a representation of it that is meaningless by itself. What we mean by this is that if we have isolated data, without it being in some context, the normal thing is that it does not give us any message, so we will not understand what it refers to. Usually, a piece of information can describe a specific event or situation, but it will not offer us a strong message for us to understand, much less make a decision. An example of data can be a date, an amount or an image.
Information: information does make sense on its own. Information is actually a set of data processed, organized, structured or given in a certain context to make it useful. The relevant information is what will allow us to answer the questions that we ask ourselves at the business level, p3..for example: is this product profitable? What is the reason for the increase in demand? What is the acquisition cost per customer?
The Differences And Ways To Take Advantage Of Them
Understanding the definitions of each of these concepts, we must know what are the main differences that exist between them.
First of all, it must be said that data is usually much smaller than information; these are going to be more extensive. This happens because the data is used mainly to be able to compress the information and have a greater storage capacity. If we save data instead of information, surely we will be able to obtain a greater number of answers for our business.
On the other hand, it must also be said that information always has a communicative character. It transmits a message that we can decipher to make decisions or understand a context or situation. However, if we only have isolated data, the normal thing is that we do not get to capture that message because it is practically indecipherable.
The Importance Of Big Data
Within this cobra context special prominence on Big Data, which is a universe of data as diverse and complex needs an approach through technological solutions and tools Master Data Management and Data Management to properly treat and get them relevant information.
The main advantage that Big Data gives us is that we can manage and analyze a large volume of data in a more efficient way and store it in less space. These data, now converted into information, will provide us with answers to questions that we as business managers had asked ourselves.
In this digital age, it is very important that companies manage Big Data in a comprehensive way and thus have the largest possible amount of data stored, of a great variety, with quality and that can be processed quickly to obtain strategic information from decision making in real time.
Also Read: Big Data Marketing Strategy: What It Is, Uses And Challenges