MISM2301 decision support systems (Session 23)-Sec 4(1)

MISM2301 decision support systems (Session 23)-Sec 4(1) - 1...

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Business intelligence (part 1): Decision Support Systems MISM2301 Monday March 10, 2014 Assistant Professor Martin Dias 1
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What is a decision? What is decision making? PepsiAmericas debrief What are decision-support systems? Business considerations Agenda 2
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de·ci·sion (dĭ-sĭzh ' n) ə n. 1. The passing of judgment on an issue under consideration 2. The act of reaching a conclusion or making up one's mind Mike Zack
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“The first rule for anyone hoping for improved decision-making is to view decisions as work .” (Thomas Davenport, HBR, 2013) Deciding = work
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Input Process Output Decision Was goal met? Feedback Goal Decision making process Adapted by Martin Dias from original by Mike Zack
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Decision making process (problem- oriented) (Simon, 1960, as cited in Laudon and Laudon 2011) What is the problem? What are solution alternatives? What is best solution? Performance feedback
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Decision Making Process Intelligence: Specify desired situation (goal/hypothesis) Observe current situation (feedback) Describe gap between current and desired situation (control) Design: Identify alternative actions to close gap Determine expected result/payoff of each alternative With some probability of success Choice: Chose best alternative Highest expected payoff Implementation: Adapted by Martin Dias from original by Mike Zack
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Levels of Decision Making Levels of Information Processing Process Output Control/Tactical Input Informate Process Output Learning/Strategic Input Innovate Adapted by Martin Dias from Original by Mike Zack Input Process Output Transaction/Operational Automate 8 Experimental research
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9 Business Decisions : level and structure Structure High Low Unstructured Semi-structured Structured
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Types of Business Decisions - by Level Strategic - Affect the long-term direction of the firm Unstructured problems and solutions (“wicked problems”) Are we doing the right things? Tactical - Medium-term outcomes about implementation of strategy Either structured or unstructured Are we doing things right? Operational – Daily, routine, administrative in nature Generally structured/highly structured Adapted by Martin Dias based upon originals by © 2009 Luth Computer Specialists, Inc.
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M k e Z a c Types of Business Decisions – by structure Structured Unstructured DM process can be specified and codified
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