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Decision making and its consequences
Decision making and its consequences
Decision making and its consequences
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Decision Support Systems in Organizational Decision Making Decision making refers to the process of finding and selecting options according to the priorities and values of the person making the decision. Since there are many choices involved, it is important to identify as many options as possible so as to pick the option that best fits a company’s target, goals, values and vision. Due to the integral role of decision making in company growth and financial progress, many firms such as Amazon.com and EBay are pumping in huge investments in business intelligence systems, which are made up of certain technological tools and technological applications that are created for the purpose of facilitating improved decision making process in business. In this paper, I take a critical look at Decision Support Systems and how they affect organizational Decision making. Advantages of Decision Support Systems Decision Support Systems (DSS) help with time management. All groups of DSS enhance reduced time circle involved in the decision making process. At Amazon.com, DSS enhance the productivity of employees and facilitate timely acquisition of information that is necessary for the decision making process. DSS facilitate enhanced interpersonal communication among those responsible for decision making. Communication-Driven Decision Support Systems and Group Decision Support Systems lead in more lubricated communication process and sharing of information. Moreover, Model-Based Decision Support systems offer a platform for sharing certain facts and suppositions regarding the decision making process. At Amazon.com Data-driven Decision make certain information about the company available to managers to make it easy for them to make decisions that ens... ... middle of paper ... ...ow to handle competition from other e-commerce companies. Conclusion I believe that Decision Support Systems (DSS) can be properly implemented to facilitate decision making process as is done at Amazon.com. At Amazon.com DSS are used to emphasize change, speedy response, and flexibility in decision making. Though I believe that DSS are important in decision making especially for a company like Amazon.com whose focus is in e-commerce, there are concerns that must be addressed to make the implementation of DSS more accepted and effective. References Haag, S. & Cummings, M. (2008). Management information systems for the information age (Laureate Education, Inc., custom ed.). Boston: McGraw-Hill/Irwin. Works Cited Haag, S. & Cummings, M. (2008). Management information systems for the information age (Laureate Education, Inc., custom ed.). Boston: McGraw-Hill/Irwin.
Saunders, C. S., & Pearlson, K. E. (2009). Managing and Using Information Systems. John Wiley&Sons, Incorporated.
Roy, B. (1993). Decision science or decision-aid science? European journal of operational research , 66 (2), 184-203.
Define the three primary types of decision-making systems, and explain how a customer of Actionly might use them to find business intelligence.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." (About Quotations.com). Our ability to make well informed and critically analyzed decisions along with the decision-making processes we employ, are key in determining our overall successes and failures. We are faced with daily decisions that can ultimately change the very courses of our lives. Poor decisions will lead to unintended failures while educated, deliberate, and purposefully planned decisions will bring about a desired result with great success.
Base on the case of “Your Choice Furniture”, we marked this system's analysis to formulate solutions in this report; it assisted in evaluating the impact of recent change information technologies of “Your choice furniture” business system for evaluating how well the firm will be performing.
Yan, Yalan, and Robert M. Davison. "Using decision support systems in Chinese enterprises: a study of managerial information behaviour." Information Development 27.1 (2011): 15-31.
The most common purpose for (BI) systems is to aid in the decision making process. BI systems collect data, store the gathered information in data warehouses, analyze the data and then present the data in easy to understand applications for the decision making process. The following studies research the role that BI systems play in the decision making process.
The last decade can be marked as a period of significant changes in the business world. Being accustomed to utilize computers as a powerful tool with its office applications such as Microsoft Word and Excel. In the 1990s office workers first faced the opportunity to share information using the Internet (McNurlin, 2009). However, the situation became even more different with the transition to the third millennium. With a further development of information technologies, the majority of big enterprises had to reconstitute their business processes and to make the transition to the Internet economy. Enterprise resource planning (ERP), supply-chain management (SCM), customer relationship management (CRM) software and the variety of other information systems became essential components of the new economy. It can be expected, that all these complex solutions were designed to bring great benefits for different sides of the corporate activity, in particular, decisions made by top-managers are expected to become nearer to the ideal, customer service is to be improved and collaboration more prolific. Nevertheless, to ensure the desired results it should be taken into account that the key concept of these reorganizations is an information or a data, dealing with which can be a serious issue, and wide utilizing of the data warehouses in contemporary organizations confirms this fact.
The objective of this paper is to have a critical assessment of what are Decision Support Systems, particularly in the Organizational context, historical genesis of these systems and the latest trends in this sub field of MIS. Along with the above mentioned objectives, we have tried to explore, by way of examples, the relevance and importance of DSS in large, complicated decision making settings. We also will attempt to visualize, how DSS’s may evolve 20 years from now in a vastly connected world and which type of problems it could help solve efficiently
With the advent of e-systems; business and consumers have access to a plethora of information which makes the decision making process more complex. The overwhelming information flow makes it extremely difficult for decision makers to analyze the available data and make precise decisions. Under such an information intensive online environment, businesses need to make real time intelligent decisions in order to stay economically and commercially viable. Multi agent systems have the inherent ability to facilitate provision of an adequate decision support mechanism in an e-business setting. These multi –agent decision support systems are of particular assistance in processing large amounts of data, filtering out irrelevant information and eliminating cognitive biases. In this study, we attempt to explore the existing decision support mechanisms facilitating the e-business environment with respect to B2B and B2C segments. Several models have been proposed and implemented to assist decision support in e-systems. We attempt to identify possible weaknesses in these models and pin point future research areas that would provide an opportunity for improved decision support mechanisms in e-systems.
The dynamics of our society bring many challenges and opportunities to the business world. Within the last decade, hundreds of jobs have emerged particularly in the technology sector to help keep up with the ever-changing world and to compete on a larger and better scale than the competition. Two key job markets and the basis of this research paper are business intelligence or BI and data mining or DM. These two fields play a very important role in small to large companies and are becoming higher desired sectors within the back offices of the workplace. This paper will explore what the meaning of BI and DM really is, how they are used and what we can expect as workers and learners of the technology and business fields for the future.
In the article titled, “Benefits of Decision Science in the Corporate Environment”, written by Cassone and Tillman, they stated that “The goal of the use of decision science techniques is to get people to think of the big picture and understand the tools and techniques that can be used to solve corporate-wide problems. Understanding the problem and the environment, analyzing the information, and quantifying results involve putting the conceptual and analytical pieces together to solve the puzzle.” (Cassone & Tillman, 2013) In my opinion, I think that statement can be applied in any environment in addition to the corporate environment, because the decision science techniques is to get people to think objectively and to be able to weight alternatives and see potentials and
Perry, B., 2005, Organisational Management and Information Systems. [e-book] Oxford; Elsevier. Available at: Google Books . [Accessed 14 November 2013]
My interest in the field of information management was triggered when I began developing small projects. As a group, we designed and developed a few mid-term projects in third year of engineering – a banking system portal, a website for my college, and a training and placement office software. I was the lead in developing a hotel management system, which was awarded the “Best Project” prize at the intra college project competition. These projects made
Turban et al. (2007: 6th edition) Information Technology for Management: Transforming Organisations in the Digital Economy. Wiley