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A Partnership to Create Business Knowledge: Netwex and Jighi
Category: Events, News | Thursday, November 4th, 2010
Is “Knowledge” a more encompassing term than “Information”? Are these concepts inherently different? Can we define them as two related, yet mutually exclusive concepts?
Fig 1: Data-Information-Knowledge
Jighi’s Knowledge Discovery Platform (KDP), enables Information generation from raw data. Information consists of facts built from raw data. Data is first aggregated, then analyzed to develop those facts. So, information [or facts] is organized, analyzed, compared and benchmarked against establish information (other known facts) along a contextual dimension to generate knowledge. Hence, for Jighi, Knowledge consists of of information contextualized to fully describe an experience, a perspective, judgments, and projections. Knowledge enables predictions, decisions and actions to influence current and future events.
However, Knowledge is not innate. Knowledge is accumulated over time and along a specific domain (Knowledge of History; Knowledge of Physics, Knowledge of a hiking trail, etc…). Knowledge is held over time and applied on-demand to address a situation. Hence experience embedded in data is extracted and then applied to information to create Knowledge. Knowledge enables interpretation, judgements, predictions or decision on a course of actions. In everyday life, ordinary people and business leaders use knowledge to make judgment calls and predictions. Whether we realize it or not, we constantly apply Knowledge to information regarding a situation to help us decide how to handle the situation.
Fig 2: Jighi Information Reference Base (JIRB) developed by Netwex
Information Reference Base (IRB) are factual historical and present information clusters that have been collected, analyzed and stored by the Netwex Custom Architecture for Data Engineering (CADE). Jighi uses IRBs the same way humans use their experience or their knowledge to appropriately interpret information into knowledge. This knowledge allows one to easily understand the data and help make the right decision or prediction.
The collaboration between Jighi and Netwex enables businesses to generate wonderful analytics and reports that highlight hidden aspects of their business information.
