QUESTION ONE $[35]$

$1\mathrm{.}1.$ With the use of a suitable framework, examine the relationship between data, information, knowledge and wisdom. Provide examples to substantiate your answer $(15)$

$1\mathrm{.}2.$ It can be argued that knowledge management is not a new concept. Critically discuss the importance and benefits of knowledge management to the modern organisation $(15)$

$1\mathrm{.}3.$ Competitive Intelligence is a typical example of knowledge management. Briefly explain the concept of competitive intelligence $(5)$

$1\mathrm{.}4$ Explain the steps involved in the transaction processing cycle $(10)$

$1\mathrm{.}5$ Critically analyse the concept and benefits of Electronic Data Interchange $($EDI$)$ to the modern organisation. In addition, discuss the results that accrue to a business through the use of EDI