Information and Information Systems

Abstract

Information is a basic resource of all organisations. It is essential for them to know, for example, how much is owed and to whom, who owes them money and how much, who the customers are, names of suppliers, what the competition is doing, market trends and much more. Organisations contain vast amounts of data of all kinds. Good decision-making requires its proper use and exploitation. In the seventeenth century the philosopher Francis Bacon coined the saying ‘Knowledge is Power’. Today, this could be rephrased ‘Information is Power’.