Came back Go to it
We live in the information age! Farmers and their advisors have access to increasing amounts of data. However, data is not the same as knowledge. To be used effectively for decision making, data must go through a transformation process that includes six basic steps: 1) data collection, 2) data organization, 3) data processing, 4) data integration. , 5) data reporting and finally 6) data usage. Through this process, data is transformed into information that, when properly interpreted, becomes knowledge. However, errors at any level of the process endanger the entire system and result in useless information. The Dairy Herd Improvement program is an excellent example of this process. Standardized data collection procedures and the definitions and formulas that organize the data form the basis of the program. The weak connection to the DHI data lies in the usage step, as many manufacturers do not verify their reports. The process needs to be applied to financial data to complement the efforts of the Farm Financial Standards Council, which has done excellent work developing standards for specific stages of the process. Educators and industry experts in Pennsylvania and the Northeast worked together to develop a standardized chart of accounts for milk accounting systems, now available as a PDF document or QuickBooks backup file. Analysis and planning tools that can automatically integrate data from accounting systems using this chart of accounts will allow manufacturers to leverage their accounting and other information systems to make informed decisions.
- Slide handouts for the six steps of information management - Hilty NFBM Conf 2010
- Standardized Chart of Accounts for Dairy Farm Accounting Systems - Hilty 2010
|conference||National Agricultural Management Conference 2010|
|type of presentation||Simultaneously|