Information Systems for Business and Beyond (2019)

The term “data science” is a popular term meant to describe the analysis of large data sets to find new knowledge. For the past several years, it has been considered one of the best career fields to get into due to its explosive growth and high salaries. While a data scientist does many different things, their focus is generally on analyzing large data sets using various programming methods and software tools to create new knowledge for their organization. Data scientists are skilled in machine learning and data visualization techniques. The field of data science is constantly changing, and data scientists are on the cutting edge of work in areas such as artificial intelligence and neural networks. Knowledge Management We end the chapter with a discussion on the concept of knowledge management (KM). All companies accumulate knowledge over the course of their existence. Some of this knowledge is written down or saved, but not in an organized fashion. Much of this knowledge is not written down; instead, it is stored inside the heads of its employees. Knowledge management is the process of creating, formalizing the capture, indexing, storing, and sharing of the company’s knowledge in order to benefit from the experiences and insights that the company has captured during its existence. Summary In this chapter, we learned about the role that data and databases play in the context of information systems. Data is made up of facts of the world. If you process data in a particular context, then you have information. Knowledge is gained when information is consumed and Information Systems for Business and Beyond (2019) pg. 85

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