The central issue inherent in data management, particularly in the case of Club IT, is that the data will be coming in from multiple sources and rapidly. In addition, there is also the challenge of data analysis which will have to be addressed by a dynamic solution.
Data management issues can be identified by taking an overview of the organization’s performance in key revenue and non-revenue generating areas. The establishment of targets and thresholds can help in performance assessment to identify data management issues.
I would propose that data management issues are resolved by making use of data management software. The use of data management software will enable the organization to handle different data types and perform comparative analyses through them without running into complexities.
The relationship between data, information and knowledge is that the three are not individual elements, but are associated through a sequence (Rainer, 2008). Data are raw and unstructured facts. Once data is processed, it is referred to as information; and once information is subjected to evaluation and an inference is derived, that inference is known as knowledge.
A knowledge management system enables the organization to make the most of the data it is collecting. It facilitates the organization in achieving its objectives by developing the data so that the organization’s management can identify problems and productivity-sinks through the collected data.
A knowledge management system can help enhance productivity by providing the management with an understanding of the performance of the organization’s processes (Rainer, 2008). This allows the organization to comprehend the feasibility of each process and improve the individual process to subsequently improve overall productivity.
B2B transactions are those transactions that take place between two businesses. While B2C transactions can be found at shopping malls counters every day.
Under general circumstances, it is perceived that a B2B transaction will require relatively more sophistication than a B2C transaction. It is typical for an organization to have a limited number of B2B transactions but a continuously varying number of B2C transactions.
Using the internet enables the seller to engage in dynamic data collection to facilitate the development of future strategies (Rainer, 2008). The internet also helps stimulate business by enabling the seller to provide more information to the buyers. This understanding applies to both B2B and B2C transactions.
Rainer, R. (2008). Introduction to Information Systems: Enabling and Transforming Business. New York: John Wiley & Sons Inc.