Analysis of Information and Social Networks in the Digital Economy

This essay delves into the digital economy, examining the role of information characteristics and social networks within organizations, using the Airdri Group as a case study. It defines key terms like data and information, highlighting their significance in decision-making and market analysis. The essay explores the characteristics of good information, such as accessibility, accuracy, and relevance, emphasizing their importance for business operations. It also analyzes social networks as platforms for interaction and marketing, discussing their features and benefits for companies like Airdri. Furthermore, the essay reflects on the interplay between information and social networks, acknowledging the challenges organizations face while leveraging these tools for growth and market presence, emphasizing the need for careful management and security measures. The essay highlights the importance of data mining and continuous monitoring of online activities to maintain a positive brand image and address customer feedback effectively.

Organisation in the Digital
Economy

Table of Contents
Introduction......................................................................................................................................1
Part I.................................................................................................................................................1
Information characteristics and properties on social networks........................................................1
Part II...............................................................................................................................................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

Introduction
The term that is being utilised for all the economic interactions, transactions, activities and
processes which depends on digital technologies is referred to as digital economy. Basically, it
denotes collective term for carrying out economic transactions which takes place on the internet
(Fulk and Yuan, 2013). This does not specify that it is based on internet connectivity rather than
this it depends on various digital tools that are being used within the economic world. This essay
is based on Airdri Group by Peter Allen and Peter Philipps in 1974. There product comprises of
quantum, quad, quote and many other hand dryers. This essay comprises on information
characteristics along with properties on social networks.
Part I
Information characteristics and properties on social networks
The representation of concepts, instructions and facts within a formalised way that is
required for interacting, interpreting and processing by machines or humans is defined as data.
Basically, it denotes a raw and unorganized fact which needs to be processed (Gensler and et. al,
2013). When this data is organised, presented, processed and structured is referred to as
information. It denotes meaningful values for their receiver. In context of Airdri, firm can make
use of processed data which will assist within formulation of actions and decisions. Information
is data which is in processed form in such a manner that it is meaningful for person who attains it
and this is something which is being interacted. An instance can be taken to understand this
aspect like temperature readings from last 100 years of the world is data. But if it is organised as
well as analysed in terms of global temperature then this becomes information. The other
example can be taken to understand data as well as information, i.e. the visitors to website of
company of UK will be a data but identifying that traffic from Australia is increasing while from
United States is decreasing then it becomes information. Basically, it can be defined as specified
information that is being attained from huge data (Koliba and et. al, 2017).
Firms like Airdri makes use of data processing for re-ordering or re-structuring of data by
machines or people for increasing their usefulness as well as adding values for specified purpose.
To understand the entire process an instance can be taken into consideration, like marketing
department carry out market analysis in which they carry out survey with respect to needs of an
individual. Now the input attained is wide range of data from different individuals. Next step will
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be its processing, this can be done by combining the perspectives of all respondents and analyse
the feasibility of entire data attained (Leinhardt, 2013). This will lead to generation of an idea
which will act as information for marketing team of Airdri and respectively they can carry out
their operations. Basically, it is the initial level from where project is being started.
Good information is one which is being utilised and creates value for organisations. It is
significant for Airdri as it will render reliable and accurate solution to distinct problems. There
are wide range of characteristics that are being by rendered by information. It must be easy for
accessing or obtaining data like Airdri can keep the details associated with their competitors and
what they are being doing. An instance can be taken to understand this like telephone directory is
looked up by individuals for having contact number of locals. This ensures
accessibility/availability. Information must be accurate so that it can be used by Airdri for
formulation of decisions to have precise results and can carry out their operations. Furthermore,
information renders objectivity or reliability which will aid firm to use it in an appropriate
manner (Maertens and Barrett, 2012). Like marketing team can make use of social media for
having details associated with expectations of their probable customers rather than going for
market as results attained will almost identical but it will save time associated with this. This will
lead to save both time and cost of Airdri.
Information needs to be appropriate so that when it is needed it can be utilised directly
without any kind of alterations within this. Again the same example can be taken, visit to website
from Australia were increasing and US was decreasing. One manager might emphasise on
accelerating the visits from Australia while other might focus on reasons related with decline.
The perspectives might vary as well as information. Furthermore, it is important that all the
important details must be present otherwise there can be variation in anticipated and attained
outcomes (Maher and et. al, 2014). Other important characteristic which is being offered by
information is that it will lead to save time if it is in appropriate manner means according to
features mentioned above. It takes time to extract information from data so if it is in processed
form then it can be utilised directly. Along with this, there need not to be impartiality within
information like if survey is carried out by Airdri with respect to products delivered by them and
some negative feedbacks are given by consumers then instead of avoiding them they must be
taken into consideration for having efficacious results.
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A social network refers to website which allows individuals with identical interests to
come in collaboration as well as share videos, photos and information. In other words, it denotes
network network of individuals which are linked through interpersonal relationships (Moolenaar,
2012). This denotes expansion of one's connection with others either for business or personal
reasons. The popular social networks which are being utilised for interacting with others
comprises of Twitter, Facebook and Google+. Apart from this, enterprise like Airdri can make
use of Yammer and Socialcast for carrying out interaction with their stakeholders, suppliers or
other firms. Apart from this, an employee who makes use of social network for promoting or
marketing their products or marketing services must abide to social media policies in order to
avoid ambiguities with respect to what is being considered acceptable by organisations. This will
act as an affirmative source through which maximum number of individuals can be attracted
towards their services (Poor, 2012). Airdri can build up their profiles on different platforms for
addressing needs of their potential customers; acknowledge what they are looking forward as
well as if any kinds of difficulties are being faced by them then what they are.
Basically, social network will render firm with an opportunity for improvising their
operations and reaching out maximum number of people which will create significant impact on
sales which have been occurred. Apart from this, there are various features which are being
rendered by social networks, they have been illustrated here. Acknowledge what is crucial for
their users; this has to be addressed by Airdri before creating a page. The reason behind this is
that people often look for innovative things which render them with multiple options so there has
to be innovation within whatever they post on their accounts (Ortiz and et. al, 2014). This will
impel them to attract more number of individuals toward their services. The user must have the
rationale behind making use of website or page. Other aspect is integration of features which will
inspire communication. Online communication acts as fuel on which online communities thrive.
Airdri can carry out this by making use of advanced platform which will render powerful tools
for creation of impelling social networks. In this context, firm have two options which includes
usage of white-label network creators, ready to go solution such as Ning and the other option is
to build framework by themselves such as CakePHP or Django (Python). It is crucial to take into
consideration the community building options (like groups, pages and forums), site layout,
navigation and call-to-actions (Snijders, Matzat and Reips, 2012).
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Social network is liable for rendering visual as well as creative tools. Users spend huge
time on different a site that inspires some creative activities. If any specified activity that is being
carried out by Airdri leads to production of visual results then an option can be provided for
sharing it with their friends. Furthermore, Instagram is a platform that will aid within making use
of more visuals as compared to other platforms, thus for making user clear about what their
product is all about, how to use them and reflect the important features related with them. This
might provide firm with an additional advantage as users can visualise all the aspects related
with hand dryers offered by them (Stieglitz and Dang-Xuan, 2013). Apart from this, there needs
to be push notification so that if anything is created on social media site then user must be
updated with what is going on within their network. Like if something is posted by Airdri on
their social media platforms then notification must be generated so that they can get aware about
what is going within. Information is being rendered to users through the utilisation of social
network as they can get aware about services which are being delivered and what is brought in
by Airdri for their customers.
Part II
Information and social network is area of interest as these both terms are associated with
each other. I feel that these two are important aspects for every organisation with enhancement
within the technology. Like, they can make use of data mining for extraction of information from
data. An instance can be taken to understand this concept like when Airdri will post details
related with their products on social network then it is crucial for them to acknowledge the
comments which are made on them. The reason behind this is that by analysing comments, firm
can acknowledge what users feel about their product which is furnished by them (Vastardis and
Yang, 2012). But I personally believe that both the aspects must be taken into consideration like
there may be both positive and negative perspectives & both must be considered for ensuring
that what individuals needs as well as what can be improvised within delivered products. It will
lead them to growth.
I think that both information and social network will render opportunity for growth for
the firm as it will assist them within knowing important aspects and deliver them. Like there
exist different companies within the market of UK, this is data, but the one which delivers
services or products like hand dryers will act as information for them. This is the only aspect
which is needed by them as it will lead them to address their major competitors within the
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marketplace. Furthermore, by making use of social network they can identify what their
competitors are offering and what their profiles look like. Along with this, by viewing the
comments of consumers on their products, they can analyse the impact which is created on them
as well as what improvisation or expectations are (Yagan and et. al, 2013). There has to be
continuous check on activities that are made on their profiles. Along with this, firms like Airdri
needs to ensure that there do not exist any kind of information which might create negative
impact on their image within the market.
I feel that there will be certain challenges which will be faced by an organisation while
making use of social network like there can be demeaning words used by customers for their
products or brand. This will create a pessimistic impact on overall sales of firm. Thus, it is
important that access controls must be applied with respect to who has what permission so that
anything which is irrelevant is not posted on their websites. So, Airdri needs to make sure that
enhanced settings have been applied to their accounts. Along with this, security aspects have to
be also considered so that third person does not get access to their profile. Cyber threats like
hacking, phishing, etc. are increasing which denotes that firms need to take appropriate measures
through which there accounts can be secured. With passage of time, technology is evolving, this
imply the firm need to remain updated with technologies that are being available in market as
this will render affirmative impacts only (Yang and Choo, et. al, 2017). Though implementation
cost might be high but it is worth investing in this. According to me, I think that information is
the important aspect without which organisation or any individual will not be able to deliver
services as per required standards.
There are certain systematic misuses of technology which takes place like intruders try to
get into systems of firm by making use of different methods such as phishing cross-site scripting,
rasomware, malware and many others (Fulk and Yuan, 2013). By making use of these activities
third person might get access into the system of Airdri which will lead them to lose their
confidential data as well as details about their customers. Technology can create both affirmative
as well as pessimistic impact on ways in which services are being rendered by an organisation.
For this, it is necessary that while sharing any information on network, it is important that
appropriate security measures are being taken. There exist higher chances of man in middle
attack, integrity, confidentiality and many issues. But for preventing from such kind of activities
the information sent can be encrypted by making use of DES, AES or any other algorithm and
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decryption key must be with only recipient of message. This denotes that if any kind of attack
occurs then also the information must not be accessed by anyone (Gensler and et. al, 2013).
I prefer that firms while making use of social network need to formulate effective
policies, standards and utilise different framework to stay away from such kind of activities.
Sherwood applied business security architecture framework will provide management of Airdri
with business-driven, risk and opportunity emphasised architecture for both organisation and at
enterprise levels which is responsible for rendering objectives of business. I feel that as this
framework is used widely as a risk management framework and seamless integration, it will be
providing Airdri with an enhanced security features while being on network. It will lead to
creation of positive impact on overall operations of the firm. Along with this, they can have two-
way traceability as well as scalable scope and can also be used in alignment with NIST, ITIL &
many other frameworks (Koliba and et. al, 2017). This will assist within effective development
of strategies with respect to information which have been processed and use it formulation of
plans, designs, execution, management and measurement. It will aid firm to attain their goals as
per desired standards.
Conclusion
From above it can be concluded that, information is a major asset for each individual as well
as a firm who are liable for delivering services to different peoples. It is important to process data
so that information can be attained which will lead to have knowledge and can be utilised for
rendering valued services for their customers. Furthermore, social network acts as a platform
which can be used for conveying useful information to consumers what firm want that they
should. Basically, consumers can be made aware about what services firm is being rendering.
Along with this, it will enable them to acknowledge what customers expect from them. This will
aid both the assets like firm can have higher sales and consumers will have what they require.
For this it is necessary that certain framework is being used by them to ensure integrity,
confidentiality and availability of information along with its authenticity.
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References
Books & Journals
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Leinhardt, S. ed., 2013. Social networks: A developing paradigm. Elsevier.
Maertens, A. and Barrett, C.B., 2012. Measuring social networks' effects on agricultural
technology adoption. American Journal of Agricultural Economics, 95(2), pp.353-359.
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