Information technology (IT) includes the equipment and techniques used to manage and process information. Information is at the heart of all organizations.

Without information about the processes of and participants in an organization—including orders, products, inventory, scheduling, shipping, customers, suppliers, and employees—a business cannot operate Over several decades, we have shifted from an industrial society to a knowledge-based economy driven by information.

information technology (IT) — The equipment and techniques used to manage and process information. executive information system (EIS) — A management support system that is customized for an individual executive; provides specific information for strategic decisions. data mart — Special subset of a data warehouse that deals with a single area of data and is organized for quick analysis. batch processing — A method of updating a database in which data are collected over some time period and processed together.

Be able to distinguish between data and information. How are they related? Why are data considered a valuable asset for a firm?.