Question

Contrast how you use information vs. how businesses use information. What is similar and what is different?

Provide your answer in approximately 350 words.

Answer 1

Answer:

We use information for our personal use by understanding the information and making use of the information for taking out decision for the personal requirement. The information is generally used for making the suitable personal decision by the individuals. We do not use routine information usage for the decision making. We di not give special focus for the information and we do not have structured process for capturing the information and making use of information for our personal decision process.

Business uses the information for business need and requirements. Business follow the structure process for capturing the information, then analyzes the information, then interpret from the analysis and then making suitable business decision from the interpretation of the information analysis. The business uses the information on structure process that follows timely use of the information and run the analysis for understanding its impact to the business. Business need information on large scale as they routinely needed information for business decisions. Business develop lot of system and tools for capturing the needful information so that they can get the desired information and can make use of the information for the business operations and management.

Similarity: Similarity in both individual and business is that both need the information for their awareness and making their decision for going forward of managing their requirements. The similarities are that both of them cannot work in absence of the information. Both need information for planning and managing their objectives and tasks. Both refer primary and secondary sources for capturing the information.

Difference: The key difference is that the type of information needed for individual and business are different and they have different requirement for the information for their respective requirement. Business captures the information with their system and tools so that they can get the periodic information for the business management where us the individual do not have any tool or system to capture the information. Thu the process of use of information for both individual and business is completely different and their way of using the information is also completely different.