Pros And Cons Of Decision Making

Author Demetris Demetriou, in his book Decision Making Framework, describes decision making as the process consisting of stages, that help in problem solving (Decision Making Framework, 2013).

Decisions can be made using below mentioned approaches (Various Types Of Decision Making Models, 2009).

• Rational: Pros and cons of each option are listed and scored in order of importance.

• Intuitive: Decision is made instinctively and without conscious reasoning.

• Combinational: Combinations of rational and intuitive processes

Simon’s Model

Herbert Alexander Simon in his book, Administrative Behaviour, recognized multiple factors that contribute to decision making (Simon's Satisficing Model, 2008)..

Simon suggested a simple strategy of “satisficing

 Amdocs and its 25,000 employees serve customers in over 85 countries (About Amdocs).

 It specializes in software and services for communications, media and financial services providers and digital enterprises.

Amdocs Data Hub

 Amdocs provides Big Data analytics solution that accumulates, manages and transforms service providers' data assets to deliver real-time actionable business value, through Amdocs Data Hub.

 Amdocs Data Hub is a scalable, Hadoop-based data management platform which enables service providers to seamlessly extract, integrate and visualize their diverse and rapidly growing data sources. This leads to data-driven decision making and analytics (Amdocs Data Hub).

The below image shows the Amdocs Hub dashboard, showing information regarding (Rolff, 2016):

 Distribution of digital and direct debit bills among active accounts based on digital service type

 Service net gain and service net gain type for specified months of specified years

 Distribution of bill types and activation channel types for a specified month.

Components

A data warehouse has five components to be considered (The Data Warehouse Toolkit: The Complete Guide to Dimensional Modeling, 1996)

This figure illustrates:

• Data Sources: Operational systems and flat files

• Staging Area: Serves as storage area and set of processes known as extract-transformation-load (ETL)

• Warehouse: Metadata, summary data, and raw data

• Data Presentation Area: Data is organized, stored and made available for querying

Data Access tools: Analytic applications and tools used for decision making

A data warehouse can be implemented through two-tier or three-tier architectures depending on the business requirements (Database Modeling & Design, 1998).

Implementation

To implement the data warehousing, let us consider Pak'nSave, a New Zealand food warehouse chain. The architectural design for this business affects the development cost, transactional performance, maintenance costs, and long-term flexibility of the application.

Implementing data warehousing benefits Pak'nSave in the following ways.

• Understanding Customers: Understanding income levels, buying habits, regional