week09 - BUS 237 Information Systems in Business Lecture 8:...

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Unformatted text preview: BUS 237 Information Systems in Business Lecture 8: Decision Making and Business Intelligence BUS 237 Agenda Questions? Decision Making Business Intelligence (BI) Online Transaction Processing (OLTP) Online Analytical Processing (OLAP) Data Warehouse Data Warehouse Data Mart BUS 237 2 Wisdom of the Crowds One day Francis Galton visited the West of England Fat Stock and Poultry Exhibition Stock and Poultry Exhibition. He studied the intelligence of men and women and had little respect for the intelligence of the average man. He watched the auctioning of the an Ox. About 800 people placed bets on an Oxs weight. It weighed 1197 pounds after it was slaughtered. No guesses for how much was the average bet. What does this mean for decision making? How is the Ox What does this mean for decision-making? How is the Ox situation different from real business scenarios? Can managers use this method for making decisions? BUS 237 3 Data Galore InfoChimps.org GoogleInsight Whats a yottabyte? BUS 237 4 This Could Happen to You Consider ways in which information systems can improve decision making in DSI From the process perspective IS facilitate competitive strategy by adding value to or reducing the costs of processe reducing the costs of processes From the decision-making perspective IS add value or reduce costs by improving the quality of IS add value or reduce costs by improving the quality of human decisions BUS 237 5 Learning Objectives What are the challenges managers face in making decisions? decisions? What is OLTP and how does it support decision making? What is OLAP and the data resource challenge? How do BI systems provide competitive advantages? What are the purposes and components of a data warehouse? What is a data mart and how does it differ from a data What is a data mart, and how does it differ from a data warehouse? What are the characteristics of data-mining systems? BUS 237 6 What are the challenges managers face in making decisions? managers face in making decisions? For business managers, decision making is a daily occurrence occurrence Factors that make business decision making challenging: Uncertainty and complexity Information overload Data quality IS(s) are valuable to the extent they help augment the knowledge of managers about their business BUS 237 7 environment during decision-making Managerial Functions Day-to-day management not very glamorous. Traditional perspective defines management as the process of accomplishing organizational goals through planning, execution, and control: Planning refers to the activities involved in defining the goals of the organization and describing how it will accomplish these goals....
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This note was uploaded on 07/14/2010 for the course BUS 237 taught by Professor Kamalmasri during the Summer '08 term at Simon Fraser.

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week09 - BUS 237 Information Systems in Business Lecture 8:...

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