BUSINESS STATISTICS FOR
CONTEMPORARY DECISION MAKING
TRAINING STUDY SHEET 2026 UPDATED
QUESTIONS AND ANSWERS
◉What is Digital Transformation? Answer: The integration of digital
technology into all areas of a business, fundamentally changing how
it operates and delivers value.
◉What are Management Information Systems? Answer: Systems
designed to help manage and analyze data to support decision-
making within an organization.
◉What is the difference between Data, Information, and
Knowledge? Answer: Data refers to raw facts and figures,
Information is processed data that provides context, and Knowledge
is the application of information for decision-making.
◉What are the Types of Information Systems within an
Organization? Answer: Common types include Transaction
Processing Systems, Management Information Systems, Decision
Support Systems, and Executive Information Systems.
CONTEMPORARY DECISION MAKING
TRAINING STUDY SHEET 2026 UPDATED
QUESTIONS AND ANSWERS
◉What is Digital Transformation? Answer: The integration of digital
technology into all areas of a business, fundamentally changing how
it operates and delivers value.
◉What are Management Information Systems? Answer: Systems
designed to help manage and analyze data to support decision-
making within an organization.
◉What is the difference between Data, Information, and
Knowledge? Answer: Data refers to raw facts and figures,
Information is processed data that provides context, and Knowledge
is the application of information for decision-making.
◉What are the Types of Information Systems within an
Organization? Answer: Common types include Transaction
Processing Systems, Management Information Systems, Decision
Support Systems, and Executive Information Systems.
