Asked by James Logan on May 19, 2024
Verified
Data are rarely used in the business environment as firms prefer using information.
Data
Factual information used as a basis for reasoning, discussion, or calculation, often numerical.
Business Environment
The combination of internal and external factors that influence a company's operating situation, including economic, legal, political, and social conditions.
Information
Data that is processed, organized, structured, or presented in a given context to make it meaningful and useful.
- Differentiate between data and information and their roles in business analysis.
Verified Answer
AN
Amaryllis NothsteinMay 24, 2024
Final Answer :
False
Explanation :
This statement is false. Data is important in the business environment as it provides the foundation for information. Without data, information cannot be created or analyzed. Therefore, businesses use data to extract information that can be used to make informed decisions.
Learning Objectives
- Differentiate between data and information and their roles in business analysis.