Make more structured decisions The Decisions Making Process: Making a decision is a multistep process. There are 4 decision making process. There are:
Figure: The Decisions Making Process 1. Intelligence : Discovering, identifying, and understanding the problems occurring in the organization Consists of identifying and understanding a problem 2. Design : Identifying and exploring solutions to the problem Involves exploring various solutions 3. Choice : Consists of choosing among available solutions 4. Implementation : Involves making the chosen alternative work and monitoring how the solution is working.
3 Questions: How do business intelligence and business analytics support decision making? Business Intelligence: Business intelligence ( BI ) is a set of theories, methodologies, architectures, and technologies that transform raw data into meaningful and useful information for business purposes. – Infrastructure for collecting, storing, analyzing data produced by business – Databases, data warehouses, data marts Business Analytics: Business analytics ( BA ) refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. – Tools and techniques for analyzing data – OLAP, statistics, models, data mining The Business Intelligence Environment: There are six elements in the business intelligence environment 1. Data from the business environment 2. Business intelligence infrastructure 3. Business analytics toolset 4. Managerial users and methods 5. Delivery platform – MIS, DSS, ESS 6. User interface
Business Intelligence Users – Goal is to deliver accurate real-time information to decision- makers – Main functionalities of BI systems 1. Production reports 2. Parameterized reports 3. Dashboards/scorecards 4. Ad hoc query/search/report creation 5. Drill down 6. Forecasts, scenarios, models
5 questions: What is the role of information systems in helping people working in a group make decisions more efficiently? • Group Decision Support Systems (GDSS): Group-Decision Support Systems ( GDSS s) are a class of electronic meeting systems, a collaboration technology designed to support meetings and group work. GDSS are distinct from computer supported cooperative work (CSCW) technologies as GDSS are more focused on task support, whereas CSCW tools provide general communication support – Interactive system to facilitate solution of unstructured problems by group – Specialized hardware and software; typically used in conference rooms • Overhead projectors, display screens • Software to collect, rank, edit participant ideas and responses • May require facilitator and staff – Enables increasing meeting size and increasing productivity – Promotes collaborative atmosphere, guaranteeing anonymity
– Uses structured methods to organize and evaluate ideas Others features are Organizing ideas Gathering information Making and setting priorities Documenting meeting sessions. Lavlu Ahmed Inatake: 27th
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