Managerial Economicsbasic
In information systems, raw and unorganized facts are known as data, whereas data that has been processed and organized to provide meaning and context is called _____.
Answer
information
Explanation
### Why this is right
Information is data that have been processed or organized. Raw facts and figures become useful for decision-making when they are analyzed and interpreted.
### The concept
Data describe unprocessed observations. Information is the result of working with those observations so that they help answer a question. A manager needs relevant information, not simply a large volume of disconnected figures.
### Remember
Processing turns raw data into information.
Related Questions
- Which description best defines managerial economics?(basic)
- Under the SMARTTS framework, an objective with a stated deadline is _____.(basic)
- An increase in income always moves a consumer to a different point on the same demand curve.(intermediate)
- A price above equilibrium creates excess demand and tends to push price upward.(basic)
- What does a production function represent?(basic)
Want to practice more questions like this?
Join myBenkio free and practice past questions for your Nigerian university courses with AI explanations for every answer.
Start Practicing Free