DECISION MAKING ESSENTIALS.
OPERATIONAL
- employees develop,control, and maintain core business activities required to run the day-to-day operations.
- considered structured decisions.
- they affect short term business strategies.
- employees are continuously evaluating company operations to hone the firm's abilities.
- managerial decision cover short- and medium- range plans,budget and so on .
- this considered semistructured decisions.
- situations on which a few establish processes help to evaluate potential solutions, but not enough to lead a definite recommended decision.
- manager develop overall business strategies, goals, and objectives as part of the company's strategic plan.
- in political,economic.
- highly unstructured decisions which no procedures or rule exist to guide decision maker toward the correct choice.
- example decision to enter new market or even a new industry over.
ENHANCING DECISION MAKING WITH MIS
Operational support systems
- transactional information encompasses all the information contained within a single business process or unit of work and its primary support the performance of daily operational or structured decisions.
- online transaction processing(OLTP) is the capture off transaction and event information and event information using technology.
- transaction processing systems (TPS) is the basic business systems that serves the operational level and assists in making structured decisions.
- TPS are source documents.
- analytical information encompasses all the organizational information, and its primary purpose is to support the performance of managerial analysis or semistructured decisions.
- online analytical processing ( OLAP) is the manipulation of information to create business intelligence in support of strategic decision making .
- decision support systems ( DSSs) model information using OLAP which provides assistanc in evaluating and choosing among different courses of action.
- there are the techniques:
- what if analysis- checks the impact of a change in a variable or assumption on the model.
- sensitivity analysis- a special case of what-if analysis, is the study of the impact on other variables when one variables is changed repeatedly
- goal-seeking analysis- finds the inputs necessary to achieve a goal such as desired level of output.
- optimization analysis- an extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables.
3.
- visualization- produces graphical displays of pattern and complex relationships in large amount of data.
- consolidation- the aggregation of data from simple roll-ups to complex groupings of interrelated information.
- drill-down- enables users to view details, and details of details, of information.
- slice-and-dice- is the ability to look information from different perspectives.
- artificial intelligence- simulates human thinking and behavior.
- intelligence systems- various commercial applications of artificial intelligence.
- EXPERT SYSTEMS-are computerized advisory programs that imitate the reasoning processes of expert in solving difficult problems.
- NUERAL NETWORKS- called an artificial nueral networks, is the category of AI that attempts to emulate the way the human brain works.
- GENETIC ALGORITHMS- systems that mimics the evolutionary,survival-of-the-fittest- procss to generate increasingly better solutions to a problems.
- INTELLIGENCE AGENTS- special-purpose knowledge-based information systems that accomplishes specific tasks on behalf of its users.
- VIRTUAL REALITY- a computer-simulated environment that can be a simulation of the real world or an imaginary world.
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