Information Literacy for business students in UCT Libraries

Susanne Noll

• Attempt to summarize some experience in information literacy for business students

Lecturer Essay

Librarian

Skill

PCs with data and information

Basic information literacy includes

• The need for information• Accurate information is reason to make proper decisions• Interest in databases• Potential sources for information• Successful search strategies• Evaluation• Sorting and organizing • Integrating knowledge into existing knowledge• Using information practically for the project

Business information literacy

• More data oriented• The need for raw data• Accurate data such as share prices• Interest in databases• Potential sources for information• Successful search strategies• Analysis and Evaluation• Sorting and organizing • Integrating knowledge into existing knowledge• Using information practically for the project

Importance of information literacy in business

• As in all academic disciplines information literacy is a central point to be able to research business subjects;

• Understanding the fundamental movements on the money market strengthens understanding of the economy;

• Every student has the right to information access and literacy;

• If students learn to use these databases for their assignment and projects they will be able to use them outside on the open market;

• Leads to business success

Challenges

• Findings every year : students have no clue how to find data and information on databases;

• They expect librarians to find information FOR them;

• Show no interest in the functionalities of databases;

• Copy data quickly and save it;• Take the finished product home.

What do business students ideally want?

• Locating financial data and articles • Accessing financial databases• Retrieving data• Evaluating data from different sources

critically• Managing data in text (reference manager)• Using data to prove hypotheses

The need for information literacy instruction for business subjects

• Be included in the curriculum to create awareness of the accessibility

• Discipline-specific context• Embedding literacy skills into curriculum

3 Approaches

• Face-to-face instruction• Classroom activities• Assessing information skills from time to time

to monitor progress

Framework for learning environment

• Need for information literacy• Early in the year• Learning environment : which resources are available• Interaction environment : encouragement to ask for

assistance• Improving relations between librarians and students

constantly• Promoting information literacy instruction• Promoting librarian’s skills• Emphasizing organizational culture in teaching and learning

Library scientists teach financial databases in UCT Libraries

• McGregor BFA (local and African-expanding)Blink (addition to McGregor)

• DataStream (International)• Reuters (International)

• AMPS (All Media Product Survey) (South African Marketing data)

What can be found

Share prices of listed companiesfinancial statementsannual reports

BondsData of IndicesCommoditiesForeign exchange ratesLatest : News

Time series data

• Greatest interest in historical data – to detect trends, – to forecast, – to compare,– to understand the economy,– to interpret economy

• Data over a specific time (at the moment some go back to the 60s, some 70s, some 80s) - interesting how the market in SA changed from 1994 onwards

• On a weekly, monthly, yearly basis

Output formats

• Excel if its raw data ( columns) or graphs• Word if its text

What do we offer? User education

• Financial databases:Raw data (numbers in columns)Time SeriesGraphs of trends

of : shares commodities foreign exchange indices

bonds

What do we as librarians do :

• Co-operate with the lecturer(s)• Take actively part in the – orientation programme– writing programme– lecturing programme (if possible embedded)

• Find out exactly what the students need/want• How detailed• What for (level : under- or post graduate)

…while, at the same time

• We need to keep updated with latest developments from the publishers

• Keep on benchmarking ourselves with other institutions• Attend presentations• Ask questions, communicate, share• Read the economic news• Strengthening relationships between ourselves and

academics• Develop strategies for teaching and learning for

specifically business students

As with everything in life it is a ….