Conceptual model of information support for taking decisions

Abstract

The modern society is characterized by qualitative changes in the volumes, composition and significance of collected and processed data. This data reflects the condition of the real and virtual world surrounding people and it is used for respective impact on the real and virtual world. All this requires theoretical generalizations that form a single conceptual platform as for managers working with the real world and for knowledge management professionals who work with the virtual world. The traditional model of taking decisions in management indirectly reflects the significance of knowledge and other elements of the virtual world for taking effective decisions which have impact on the real world. However the process of forming knowledge is not reflected in these models. Traditional models of knowledge management mainly concentrate on the internal transformation processes “data-information-knowledge-wisdom” which further are used for taking decisions.