Manage Knowledge and Information

Table of Contents

Discuss 2 new technologies and their suitability to knowledge and information management.

Outline what statistical analysis is and discuss three other quantitative methods commonly used in decision making.

References.

Discuss 2 New Technologies and Their Suitability to Knowledge and Information Management

Competitive intelligence can be described as the collection of interlinked steps aimed at consistently providing information about the organization's environment to feature the corporate decision process so that it can be heard and predicted and better agreed upon. While we think about external sources of knowledge when talking about strategic intelligence almost instantly, the literature includes a wealth of market case studies showing the knowledge that was not present in the enterprise but was not communicated or registered to be learned, predicted, adapted, or reacted to a significant environmental change. Furthermore, as the use of the verb is seen in our description when addressing competitive knowledge, we not only means the fact that knowledge is available, but also that the message about the environment evolution is used regularly in person and collective processes of learning about the organizational environment. We also see strategic intelligence as an essential element in the management of information. Describe KM as a collection of management tasks linked to information creation, codification, and sharing. Understanding the technical, market, and competitive climate is part of corporate experience.

In contrast to cognitive ability, intelligence as information just makes sense. Awareness is the reunion, in which human behavior is combined, with laws, values, conceptual models, and experiences. In addition to current awareness within a cognitive framework, the messages received (information). Or they cannot have laws, templates that control behavior if they aren't at the root of the memories. To send a response, a sample of data sent by a cognitive machine will automatically generate new information on the recipient, only transient data on the recipient and noise (deficiency of meaning) on the 3rd. The density and scope of information and expertise vary. It appears the knowledge is on the surface of consciousness in the cognitive space. It is volatile, transient as in physical structures, so long as it persists on the surface. As it is incorporated into awareness, it is constantly applied to it in terms of ideas, templates, experiences, and sensations. (Krishnamurthy, 2008)

Outline What Statistical Analysis Is and Discuss Three Other Quantitative Methods Commonly Used in Decision Making

The theory of data gathering, patterns, and trends are mathematical research. After gathering data, you should interpret it for: Summarize the data. It is just another way of saying numbers. Create a pie map, for instance

Mass decision-making

Many quantitative methods for assisting management in successful decision-making have been developed. This can be categorized into several common categories.

  • Decision trees

Decision trees are used to make an optimal choice between the alternatives. In general, Should more choices be required for a solution, further divisions would be added at a lower stage. Each scenario documents the likelihood, expense, and benefit. Decision trees are often used for a robustness analysis which compares the number and the total number of possible outcomes of desirable scenarios in the planning horizon. The decision tree can be used to model these choices. On the computer, there is an example of a weather-based decision tree.

  • Network analysis

An analysis of the network is another graphical method of decisions which focuses on the representation of the relationships of events and tasks. It describes all project tasks as a path from start to finish and takes note of the period for each. Critical path analysis is the most common example of network analysis. This method of study is intended to predict the overall length of the project. An indication of the path analysis is given on the computer.

  • Analysis with data mining

As the number and scale of statistical data sets have expanded, the fusion of statistical and computer-programming expertise has risen in popularity. According to Yale University law professor Ian Ayres, writer of Super Crunchers, Data Mining refers to a class of approaches used to evaluate vast data collections, to uncover trends and associations between volumes of raw data. Online retailers such as Amazon have used data mining techniques to build consumer purchase habit profiles and used the knowledge to advise individual items

What Are the Key Features of Management Information Systems and Decision Support Systems?

MIS

A computer-based management information system or MIS provides managers with the resources they need to coordinate and analyze their organization's records. Like a factory device, a good MIS is much more than just a few bits of equipment. An MIS typically consists of gathering numerous information resources, all of which work together to find and interpret the data they provide. (Tanriverdi, 2005)

Features

The characteristics of management information systems around those that use it. The following characteristics can give a strong MIS:

  • Flexible: A MIS should allow you to interpret and assess information from various sources according to your specifications, as necessary and in many ways.
  • Simple to use: To accomplish what they need, administrators do not need specialized information management know-how. The use of the MIS is not to be time-consuming, and reports produced should not be too much information for a manager.
  • Various: An MIS can help various talents and skills.
  • Collaborative: an MIS can improve contact through an organization between managers and workers

DSS

The DSS is computerized software that facilitates actions, assessments, and action courses within an organization or a group. A DSS searches and processes vast volumes of data and gathers detailed knowledge to address challenges and to make decisions.

Key features

The main characteristics and features of a DSS can be outlined briefly, but extensively:

  • Accommodation and versatility
  • Interactivity DSS are highly dynamic structures developed by decision-makers or workers who track and monitor the engagement series and the operations undertaken.
  • Facility of usage
  • The efficiency and efficacy of a single decision or series of similar decisions are aimed at improving the precision, timeliness, consistency, and overall effectiveness of the DSS. It offers a single forum that helps all users to view the same knowledge and reality and autonomously design reports for individual users and development groups locally. The DSSs are intended to allow a particular decision or a series of similar decisions to be more precise, timely, consistent, and overall successful.
Discuss your understanding of the term risk management.

Risk assessment is the mechanism by which risks to resources and profits in a company are identified, analyzed, and handled. These risks or challenges can be extracted from a broad spectrum of factors, including financial instability, regulatory obligations, strategic management mistakes, accidents, and natural disasters. Threats to IT infrastructure and privacy vulnerabilities have been an overarching priority for digitized organizations and risk control techniques to reduce them. As a result, a Risk Management Strategy progressively involves business procedures to identify and handle risks to its digital properties, including proprietary corporate records, PII, and intellectual property.

Any business and organization face the possibility of unpredictable and adverse incidents that can either cost or force the company to close permanently. Risk assessment helps companies to brace for the unexpected by reducing risks and unnecessary expenses before they arise. In executing a risk management strategy, a company can save costs and secure its prospects by considering multiple possible threats or incidents before they happen. This is because a proactive risk management strategy allows an organization to build procedures to deter external risks, mitigate their impacts, and adapt to the effects. This ability to consider and manage risk allows businesses to take their strategic choices more confidently. In comparison, good corporate governance guidelines that explicitly concentrate on risk control will allow an organization to accomplish its objectives. (Pender, 2010)

Additional significant risk control advantages include:

  • Build for both employees and clients a healthy and stable working climate.
  • It increases security and reduces the legal risk in company activities.
  • Provides protection against both business and environmentally adverse activities.
  • Protects from future damage those concerned persons and belongings.

Risk management and strategies

The ultimate risk management process consists of all risk management plans taking the same steps:

  • Set up a history. Understand the conditions of the remainder of the operation. There should also be the development of standards for risk management and specification of the study framework.
  • Identification of risk. The organization recognizes and recognizes possible threats that may impact a particular company operation or initiative adversely.
  • Analysis of threats. The organization then calculates the odds and consequences of the risk by defining those forms of risk. The purpose of risk analysis is to help understand each particular risk instance and how the risk will affect the programs and goals of the organization.
  • Evaluation and risk management. After assessing the overall probability of the risk and its overall effects, the risk is further analyzed.

References for Taxonomic Research

Pyle, R. L. (2004). Taxonomer: a relational data model for managing information relevant to taxonomic research. PhyloInformatics1, 1-54.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Management Assignment Help

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