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Tuesday, January 22, 2008

Data, Information & Knowledge

Data - a precise fact mostly numerical, used to be processed to carryout some calculations like the interest on a deposit or a loan, or the wages of an employee in an automated way during the beginning of the computer age. EDP departments of large businesses used to buy the computers and use them in the data processing.

Information and analysis of the underlying data for improving the business decisions is the advancement due to the availability of enormous amounts of past data collected by the data processing machines. The processed data further analyzed, aggregated, segmented and used to aid the business decisions. Decision support systems and OLAP have emerged out of this need.

Knowledge is to provide some latent patterns and inference from the analytical information. To relate two or more seemingly unrelated facts to arrive at a relation is known as knowledge. The computing industry now working on this type of business intelligence using several pattern recognition and mining techniques to take advantage over the competition.

Most of the processing capacity is used to outsmart the competition. The real business intelligence is not in computing capacity; it is intuition. Artificial can never be intelligence. Intelligence can never be Artificial.

The question is "Can New Knowledge come out of Computers?"
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