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Without the availability of relevant information, we can make a decision that is wrong or not for us advantage. For example, if a person does not have full knowledge of the facts, they may not be able to make the right decision.
• It is similar with business. Businesses are run by organizations that are actually groups of people. As individuals have choices, organizations also face different alternatives on a daily basis operations, Decisions are made by individuals from management.
1.1 Need for information
Information is required for everyday decision making. Without availability of the right amount
information at the right time, the decision making process is greatly influenced. Different for this reason
sources of information are used to obtain information. Some of them are:
Sources of information are generally categorized as primary, secondary or tertiary depending on their
originality and their proximity to the source or origin. At first, there may be findings, for example
communicated informally via e-mail and then presented at meetings before being formally published as Information System (CS507) VU
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primary source. Once published, they will be indexed in a bibliographic database and repackaged
and commented on by others in secondary sources. The designations primary, secondary and tertiary differ mainly between disciplines or subjects between what can be broadly defined as the sciences and the humanities. For example:
• The historian’s primary sources are the poems, stories and films of the era under study.
• A research scientist’s primary source is laboratory test results and medical records
patients treated with this medicine.
MTH301 Short Notes for Final Term
- MTH301 Short Notes Final Term PDF – DOWNLOAD