data Information systems that rely on computer hardware and software for processing and disseminating information. Streams of raw facts representing events occurring in organizations or the physical environment before they have been organized and arranged into a form that people can understand and use. data workers People such as secretaries or bookkeepers who process the organization's paperwork. 29 digital firm Organization where nearly all significant business processes and relationships with customers, suppliers, and employees are digitally enabled, and key corporate assets are managed through digital means. electronic business The use of Internet and other digital technology for organizational communication and coordination and the management of the firm. electronic commerce The process of buying and selling goods and services electronically involving transactions using the Internet, networks, and other digital technologies. electronic market A marketplace that is created by computer and communication technologies that link many buyers and sellers. extranet Private intranet that is accessible to authorized outsiders. feedback Output that is returned to the appropriate members of the organization to help them evaluate or correct input. formal system System resting on accepted and fixed definitions of data and procedures, operating with predefined rules. information Data that have been shaped into a form that is meaningful and useful to human beings.