Friday, September 27, 2019

Difference between Data and Information as It Applies to Freeway Ford Essay - 4

Difference between Data and Information as It Applies to Freeway Ford - Essay Example The success of a managerial decision depends on the correct interpretation of data collected. Data has no value at all if it is not transformed to meaningful information. In this case Freeway Ford knows the purchase date and owner of every car it sells. In other words Freeway Ford has the data about the exact date and the actual purchaser of every car it sells. But they never tried to convert these data in to useful information. Normally people will go for new cars within a period of 3 to 4 years. Freeway Ford could have easily prepared a database with respect to the cars they sold based on the date. From this database they can contact their customers regularly at least once in 3 months or 6 months period to know about the functioning of their car and also about their future purchasing plans. Service is one of the core elements of every purchasing decision. Regular follow ups always attract customers and they will consider Freeway Ford once again when they think about purchasing a ne w car or exchanging their used car, if they receive proper service from Freeway Ford. A used car buyer will always be interested in knowing the previous history of the car for known problems and also any accidents it suffered previously. Freeway Ford has all these data, but they fail to convert them into information. Each vehicle has an identification number (VIN) and the insurance companies sending the repair and claim details every month and Freeway Ford could have easily created a database for each car based on the repair and claim details which will be useful to the customers. Freeway Ford can create a website which explains everything to the customers with respect to their used car selling activities. Each vehicle details must be provided in the website so that a buyer can access all the relevant information regarding the vehicle he was interested in, even if he is not at the Freeway Ford location using internet technologies. Even a laptop is enough for Freeway Ford to convince the purchasers regarding the previous history of their cars.  

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