week 5 Chapter 3 (Data and Knowledge management)

 3.1

High quality data within an organisation is Timely, Accurate, Reliable, Complete, Concise, Accessible and Useful. Achieving high quality data is difficult because the amount of data increases rapidly, while being spread all through the organization and coming from multiple different sources. The data also becomes outdated, and become corrupted/destroyed. Government regulations also create pressure in data storage and management. 

Data governance is the approach used to manage the huge amounts of information throughout the organization. Master data management involves a strategy to govern data which spans across all of an organisations processes and activities. 

 

3.2

This allows a business to have only one version of all the information spanning across the whole organisation. A good database ensures data redundancy does not occur, meaning data is only stored in one place. Secondly proper data isolation can occur meaning data is only accessible by those who need access. Lastly it also means all data is up to date and does not conflict. It also allows data to be kept securely, meet integrity laws and also be independent of other applications.

Database management systems (DBMS) is a software that creates, stores and organizes data by accessing data from a database.

3.3

Relational databases are a commonly used databases that allows for data to be easily compared through rows or columns. It is also simple to retrieve things by locating the intersection of a specific row and column. However, these huge databases may consist of several connected tables, creating a complicated system and causing poor search and access speeds.

Normalization is refining a database through streamlining the processes of storage and complex groupings of data. as well as minimizing data redundancies and maximizing data integrity. 

 

3.4

Data warehouses and data marts are the storage of historical data to aid decision making through easy access to the information. 

For a data warehouse and marts to be implemented and maintained properly, an organisation must:

·        establish a connection between source systems and the warehouse.

·        utilise data integration procedures and technologies to get the required information.

·        choose a suitable design for data storage in the data mart or data warehouse.

·        choose the programmes and instruments for the range of users within the company.

·        Verify that governance, metadata, and data quality procedures are in place to guarantee that the data warehouse or mart fulfils its intended functions.

 

3.5 

Knowledge management systems allow organisations to reap a number of benefits, including better customer service, more efficient product development, increased employee morale and retention, and easy access to best the practices for a diverse spectrum of staff members.

The following requirements must be met to put KMSs into practice: the knowledge base must be updated and maintained on a regular basis; organisations must foster a culture of knowledge management that rewards staff members who contribute their expertise to it; employees must be willing to share their own tacit knowledge; and businesses must be prepared to invest the funds necessary to carry out these tasks.

Knowledge management may help organisations establish best practices, identify the most practical and efficient methods of operation, and make these methods easily accessible to a variety of staff members. Enhanced customer service, more effective product creation, and higher employee morale and retention are other advantages of knowledge management.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, K. (2014). Management Information Systems, 1st Australian Edition. John Wiley & Sons Australia.