Whois & Analysis for ausum.net

Automation or automatic control, is the use of various control systems for operating equipment such as machinery, processes in factories, boilers and heat treating ovens, switching on telephone networks, steering and stabilization of ships, aircraft and other applications and vehicles with minimal or reduced human intervention.

Some processes have been completely automated.

A system is a set of interacting or interdependent component parts forming a complex or intricate whole.

Every system is delineated by its spatial and temporal boundaries, surrounded and influenced by its environment, described by its structure and purpose and expressed in its functioning.

Information is that which informs.

In other words, it is the answer to a question of some kind.

It is thus related to data and knowledge, as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts.

As it regards data, the information's existence is not necessarily coupled to an observer (it exists beyond an event horizon, for example), while in the case of knowledge, the information requires a cognitive observer.

Insurance is a means of protection from financial loss.

It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

The outcome of business operations is the harvesting of value from assets owned by a business.

Assets can be either physical or intangible.

An example of value derived from a physical asset, like a building, is rent.

An example of value derived from an intangible asset, like an idea, is a royalty.

The effort involved in "harvesting" this value is what constitutes business operations cycles.