What is Information?

1. What is Information?

2. Data: Collection of facts (opinions, demographics, statistics)

3. But Data is not information…

4. Data: Collection of facts (opinions, demographics, statistics) This may not be Information: Not this

5. Data: Collection of facts (opinions, demographics, statistics) Information: * A message received and understood

6. Data: Collection of facts (opinions, demographics, statistics) Information: A message received and understood * A collection of facts from which conclusions may be drawn

7. Data: Collection of facts (opinions, demographics, statistics) Information: A message received and understood A collection of facts from which conclusions may be drawn * Knowledge acquired through study, or experience, or instruction

8. Data: Collection of facts (opinions, demographics, statistics) Information: A message received and understood A collection of facts from which conclusions may be drawn Knowledge acquired through study, or experience, or instruction * Information as the result of processing, manipulating and organizing data in a way that adds to the knowledgeof the person receiving it.

9. Information: Something that changes what you know.

10. Suppose you received these reports:

11. Suppose you already knew everything in these reports:

12. Would you still want to pay for these reports?

13. Information: Something that changes what you know.

14. Information: It is a commodity.

15. Information: It is a commodity. It is property.

17. Information: • Value Dependent upon the value of decisions that can be made with a change in what you know.

18. Information: • Value Dependent upon the value of decisions that can be made with a change in what you know. Value = Benefit - Costs

19. Value = Benefit - Costs In a business sense the value of information could be Negative.

20. Information: • Value • Amount Not dependent upon length or complexity

21. Information: • Value • Amount Not dependent upon length or complexity Amount is inversely proportional to the probability of the message

22. Claude Shannon

23. Three pictures Each has the same number of pixels

24. Three pictures Each has the same number of pixels So each has the same amount of:

25. Three pictures Each has the same number of pixels So each has the same amount of: DATA

26. Three pictures Each has the same number of pixels Each was judged to have the same amount of artistic and esthetical appeal.

27. Three pictures Each has the same number of pixels Each was judged to have the same amount of Artistic and esthetical appeal. So each as the same amount of:

28. Three pictures Each has the same number of pixels Each was judged to have the same amount of Artistic and esthetical appeal. So each as the same amount of: Quality

29. The print media stays in business by selling advertisements and influence Because…. People will be attracted to the media when they find something that they didn’t already know.

30. In other words… people are attracted to and buy Information Even if it is wrong!

31. Editors will then buy material that will sell…. This the key to doing successful PR!

32. Three pictures • People enjoying a nice afternoon by an office building

33. Three pictures B. A map of a new high-rise business building.

34. Three pictures C. President Obama meeting with a real alien

35. Three pictures • People enjoying a nice afternoon by an office building B. A map of a new high-rise business building C. Obama meeting an alien Which one will be worth the most money?

36. Three pictures • People enjoying a nice afternoon by an office building B. A map of a new high-rise business building C. Obama meeting an alien Which one that has the lowest probability!

37. Information: • Value • Amount • “Goodness” Ability to be used to make correct decisions.

38. “Goodness” Ability to be used to make correct decisions. • Reliability

39. “Goodness” Ability to be used to make correct decisions. • Reliability • Validity

40. “Goodness” Ability to be used to make correct decisions. • Reliability • Validity • Relevancy

41. “Goodness” Ability to be used to make correct decisions. • Reliability • Validity • Relevancy • Currency

42. “Goodness” Ability to be used to make correct decisions. • Reliability • Validity • Relevancy • Currency • Sufficiency

43. “Goodness” Ability to be used to make correct decisions. • Reliability • Validity • Relevancy • Currency • Sufficiency • Efficiency Try: http://www.jimloy.com/puzz/puzz.htm

44. Information: • Value • Amount • “Goodness” • Evaluation

45. Information: Evaluation • Who produced it?

46. Information: Evaluation • Who produced it? • When was it produced?

47. Information: Evaluation • Who produced it? • When was it produced? • How was it produced?

48. Information: Evaluation • Who produced it? • When was it produced? • How was it produced? • How was it analyzed?

49. Information: Evaluation • Who produced it? • When was it produced? • How was it produced? • How was it analyzed? • Why was it produced?

50. Information: Evaluation • Who produced it? • When was it produced? • How was it produced? • How was it analyzed? • Why was it produced? • Whobenefits from this information?