The given statement " Many organizations find themselves in the position of being data rich and information poor. Even in today's electronic world, managers struggle with the challenge of turning their business data into business intelligence " is TRUE
Step-by-step explanation:
Many companies are able to be rich in data and poor in knowledge. Managers are grappling with the difficulty of transforming their corporate data into market intelligence particularly in today's online environment. Data raw does not allow managers to make management decisions. Data processing was made easy in this online era.
However, only when analyzed and information is evident the importance of this data. This will help executives make quick strategic choices and build effective management plans.
This implies that if data is gathered in various ways, company administrators will then use Business Intelligence Software or display the information in a realistic way, such as graphics. Pie charts and other types that can be viewed quickly and represent the patterns in raw data.
The company should find meaning in the data it gathers and tell the tale in the data.