ISM3011wk1 - MakingDecisions ISM3011 WhatWereGoingtodoToday...

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Making Decisions ISM3011
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What We’re Going to do Today Announcements Alphabet soup Decision making Information and decision making Value of a disciplined approach to decision making Decision making process Specific decision making methods
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Alphabet Soup RSS   REALLY SIMPLE SYNDICATION Family of web feed formats used for publishing  digital content  that is frequently updated. BI   Business Intelligence (GIGO; need good info for good decisions Category of application software/technologies for Gathering storing , providing access  and analyzing  data in order to help  users make business-related decisions. Brother actuary for company. Actuarial science, stat based: look  at trends. Look at someone and based off of number of tickets  ect, they can determine insurance rates. 
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Decision Making
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Decisions and Information In business, information largely serves two purposes: Support  operations   Decision Making Decision making: Choosing among  alternative  courses of action. {sometimes is do nothing} Good decision making requires: Good information , and Good decision making processes , skills  and  tools Part of good decision making is knowing what  information you need. Our focus today
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Importance of Decision Making Skill Moving “up the  ladder” requires  decision making  ability. Decisions get more   difficult Decisions have  greater  impact
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Value of Disciplined Decision Making A disciplined decision making process provides:   Structure  for examining complex problems  [can be  informal; still structured, criteria and possibilities] Transparent rationale
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This note was uploaded on 08/29/2011 for the course ISM 3011 taught by Professor Szymanski during the Winter '08 term at University of Central Florida.

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ISM3011wk1 - MakingDecisions ISM3011 WhatWereGoingtodoToday...

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