Briefly Distinguish Between Data, Information, and Knowledge

question 61

Essay

Briefly distinguish between data, information, and knowledge.

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Definitions:

Cash Flows

Refers to the net amount of cash and cash-equivalents being transferred into and out of a business.

Patent Rights

Legal protections granted to inventors, giving them exclusive rights to use, make, and sell their invention for a certain period of time.

Final Cash Flow

The last cash inflow or outflow in an investment's cash flow series, critical for calculating net present value or internal rate of return.

Development

In a general context, it refers to the process of developing or being developed, often associated with economic, social, or technological progress and improvement.