Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Features of a management information system
Management information systems
Management information systems
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Define the three primary types of decision-making systems, and explain how a customer of Actionly might use them to find business intelligence.
The three primary types of decision-making systems are: the transactional support system, the management information system, and the decisions support system (FreeTutes.com, 2014).
First, the transactional support system encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions. Some examples of transactional information are when customers purchase stocks, make an airline reservation, or withdraw cash from an A.T.M. (Baltzan, 54). A customer of Actionly could use this information for behavioral targeting purposes. Behavioral targeting refers to a range of techniques and technologies which allows advertisers to increase the effectiveness of their campaigns (I.S.P., 2009). Actionly’s customer could then apply this information to its current advertising strategy to ensure that they are getting the most return on their advertising investments. For example, McDonalds may choose to advertise grilled chicken sandwiches on the screen of an A.T.M. machine close to one of its restaurants at 12:00 p.m. if transactional information gathered by Actionly suggests that there is a spike in the frequency of the A.T.M.’s use at that time.
Next, the management information systems are business functions like accounting and human resources, which moves information about people, products, and processes across the company which facilitates decision making and problem solving (Baltzan, p.14) Electronic communications such as Facebook and Twitter have provided many new tools to ...
... middle of paper ...
...mplex personal profiles, which details the interests, ambitions, and skills of the consumer. I believe this invades the privacy of the consumer because this personal information could potentially be used for criminal purposes like fraud or theft.
Works Cited
Baltzan, P. (2014). Business driven information systems. New York: McGraw-Hill/Irwin.
Davenport, Thomas & Short, J. (1990), The new industrial engineering: information technology and business process redesign, in: Sloan Management Review, Summer 1990, pp 11–27.
Freetutes. (N.D.). Retrieved from: www.freetutes.com/systemanalysis/types-of-information...
I.S.P.(2009). Retrieved from: "ISP Behavioral Targeting versus You". 2008-09-26.
Jerpi, L. (N.D.) Retrieved from: smallbusiness.chron.com › ... › Marketing Strategies
Vale, D. (2013). Retrieved from: http://bit.ly/JoinValeNation ...youtube.com
Roy, B. (1993). Decision science or decision-aid science? European journal of operational research , 66 (2), 184-203.
Decision making process in place – reflecting the first three principle and giving due weight to the stake holders
Online data tracking good because it allows companies such as Google, Yahoo, and Twitter to give you customize Internet service for better experiences. Online tracking allows advertisers to precisely target their consumer’s needs based on their b...
In the business world today, technology is becoming an essential staple. Every big business relies on it one way or another. More importantly than just technology itself, the use of management information systems is what guides a company in terms of catering to its customers and knowing what moves to make next. Management information systems (MIS) can be defined is the study of people, technology, and organizations (What is MIS?). However, that is a very general definition because there is a lot more that comes out of the use of these MIS systems.
"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.
"In the day to day business of organizational life, decision making is seldom the logical, rational, systematic process suggested by the management textbooks. It does not unfold in identifiable stages where a problem is defined, alternative solutions are generated, the alternatives are weighed against a known criterion, and a choice is made (1998, p. 50)."
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...
Some decisions prove to be vital and any miscalculation that may be involved may prove dire for the individual or the organization. In identifying the criterion to use while evaluating different decisions, many factors pertaining the structure should be considered. The pros and cons of every decision made should be evaluated to ensure that the option chosen has the most positive effect on the individual and the organization. Some of the activities that may require keen decision making include project development, finance and operations. With the knowledge attained it will be easier to cope with tough decisions that may come up in my career. Decision making models may be generated to give an in depth view to the problem and also provide critical analysis ability. It is also vital noting that for those in managerial positions, they face a bigger task in decision making. A good understanding of the business function and structure will provide an in depth knowhow to those that have studied the
A decision is a solution chosen from among alternatives. Decisions must be made when a person is faced with a problem or an issue that needs resolution. Decision-making is the process of selecting a course of action (ideas or alternatives) that will solve a problem and resolve any issues. Decision-making models provide people with a method for making decisions. There are numerous decision-making methods people utilize today. Some are meant to be all encompassing, meaning they can be utilized in many different environments. Others are specific to issues or industries, such as technology, psychology, and mathematics. Regardless of the problem, there is usually a decision-making process that is best suited for any situation, and it is up to us to find it.
Management information systems can be used as a support to managers to provide a competitive advantage. The system must support the goals of the organization. Most organizations are structured along functional lines, and the typical systems are identified as follows:
“Decision making is a process of first diverging to explore the possibilities and then converging on a solution(s). The Latin root of the word decision means "to cut off from all alternatives". This is what you should do when you decide.” (Kotelnikov, 2008). In fact, the decision making process helps reduce doubt and uncertainty about alternative choices to allow individual to choose the best reasonable choice. In addition, the decision making process can make the difference between a successful and an unsuccessful organization. Consequently, management tries to use the best techniques and tools possible to make the best decision. Nowadays, most organizations seem to think that they have the most effective and efficient decision making process. So what are the different styles of decision making processes have organizations implemented? In order to answer this question, the team members will investigate and observe the decision-making processes most prevalent in their organization. As a result, these papers will first compare and contrast the problem identification and formulation styles in the team members’ organizations. Then the most favorable aspects of each style will be discussed to describe a process by which a problem can be identified and described to stakeholders in a manner that is sensitive to their perspective.
Decision making, as taken from the Wikipedia (2006) encyclopedia, is defined as "the cognitive process leading to the selection of a course of action among alternatives. Every decision making process produces a final choice called a decision. It can be an action or an opinion. It begins when we need to do something but we do not know what. Therefore, decision-making is a reasoning process which can be rational or irrational, and can be based on explicit assumptions or tacit assumptions." (para.1). Decisions made by using a decision-making model typically result in better decisions. Decisions resulting from the model tend to be more consistent since the same steps are followed each time. Increased thoroughness of decision options considered is another benefit in using a decision-making model, as numerous factors are taken into account.
Three distinct decision making processes are programed decisions, operations research, and non-programed decisions (Dunn, 2010). Programed decisions are those made routinely and are well-known to the person making the decision (Dunn, 2010). Often these issues have standard rules and regulations that encompass them (Dunn, 2010). As stated by Dunn (2010), “operations research is closely aligned with systems analysis and is defined as the use of mathematical models, analytical methods, or structured inquiry to analyze a complex situation and identify the optimal approach” (p. 44). The third decision making process is non-programmed decisions, which are out of the ordinary having no typical solution (Dunn, 2010).
Effective decision making involves the ability to identify consistently and select the best choice among multiple options. This is true both personally and professionally. For the decision making process one may use a decision making model. A decision making mo...
In conclusion, decision making is an important concept in everyday life because it is linked to success and effectiveness in various situations. This process is usually carried out based on various concepts and models such as WRAP model. The ability of an individual to make the most appropriate decision in a particular decision is based on his/her ability to choose the best possible concept or process for decision making. However, one should not be rigid when using a particular decision making model or concept.