Your Textbook Differentiates the Terms Data, Information and Knowledge

question 72

Essay

Your textbook differentiates the terms data, information and knowledge. Imagine that a national chain of grocery stores regularly administers customer satisfaction surveys and uses these to evaluate the performance of individual store locations. Briefly give an example or description of the data, information and knowledge that would result from these surveys.

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Definitions:

Uncertified Check

A check that the bank has not guaranteed or verified regarding the availability of funds, standing in contrast to a certified check.

Presented For Payment

The act of submitting a financial instrument, such as a check or draft, to the responsible party for the transfer of funds as specified.

Negotiable Instrument

A written document guaranteeing the payment of a specified amount of money, either on demand or at a set time, with the payer named on the document.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, including sales of goods and secured transactions.