Value of Knowledge

Research Paper # 100434

Business > Applied Operations
Business > Companies
Business > Information Mgmt. and Systems
Business > Management
Computer and Technology

Value of Knowledge

This paper discusses the issue of knowledge and looks at the transformation and application of data.

1,979 words () | 10 sources | APA | 2007 United States

Paper Summary:

Historically, businesses have long considered data and information the apex of business intelligence. The quandary many companies face is how to turn raw data and information into executable market intelligence or actionable knowledge. The answer in many cases is to make better use of existing databases and data warehouses through the deployment of more effective database management systems in the form of enterprise resource planning (ERP) systems that are able to manipulate data in meaningful ways. The writer looks at this issue as it relates to UCB, which is a global enterprise with three primary lines of business: chemicals, films, and pharmaceuticals. The writer concludes that while there is clear value in amassing data and information and doing so is critical for most enterprises, the knowledge created from data and information is a competitive differentiator and one that UCB, among many others, has begun to leverage with lethal effectiveness.

Outline:
Overview
Data & Information
The Transformation of Data into Intelligence
Business Knowledge Application
Conclusion

From the Paper:

"Business Intelligence reports may then be generated from the data written to the warehouse. In this way the data warehouse supplies the data and information for the business intelligence tools that an organization might use. For UCB implementing a data warehouse is a prerequisite to positive growth and for increased research capabilities that lead to improvements of its core corporate strategies. Considering its sourcing, inventory, and product tracking requirement in its chemical division, for example, its knowledge management requirements in its pharmaceutical division, and its research and testing information needed for reference in its films division, amassing this huge amount of data in a logical fashion is a priority. However, even more important, placing it in a repository that not only categorizes it but makes it useful to its managerial core is paramount."

Sample of Sources Used:

2005 Annual Report. 2005. Investor Relations. http://www.ucb- group.com/investor_relations/financial_reports/Annual_Repor ts/ [Viewed: 15/11/2006]
About UCB. 2006. UCB Corporate Website. http://www.ucb- group.com/about_ucb/key_facts/ [Viewed: 15/11/2006]
Ashbaugh, S., & Miranda, R. 2002. Technology for Human Resources Management: Seven Questions and Answers. Public Personnel Management, 31(1), 7.
Charp, S. 2000. Enterprise Solutions. T H E Journal (Technological Horizons In Education), 28(1), 16.
Chopoorian, J. A., Witherell, R., Khalil, O. E., & Ahmed, M. 2001. Mind Your Business by Mining Your Data. SAM Advanced Management Journal, 66(2), 45.