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INFORMATION MANAGEMENT AND DECISION MAKING FOR THE DIGITAL FIRM

MODULE-2 : UNIT-8. INFORMATION MANAGEMENT AND DECISION MAKING FOR THE DIGITAL FIRM. OBJECTIVES. How can information systems help individual managers make better decisions when the problems are non-routine and constantly changing?

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INFORMATION MANAGEMENT AND DECISION MAKING FOR THE DIGITAL FIRM

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  1. MODULE-2 : UNIT-8 INFORMATION MANAGEMENT AND DECISION MAKING FOR THE DIGITAL FIRM

  2. OBJECTIVES • How can information systems help individual managers make better decisions when the problems are non-routine and constantly changing? • How can information systems help people working in a group make decisions more efficiently?

  3. OBJECTIVES • Are there any special systems that can facilitate decision-making among senior managers? Exactly what can these systems do to help high-level management? • What benefits can systems that support management decision-making provide for the organization as a whole?

  4. OBJECTIVES • Data and information analysis using OPLAP and data mining? • Methods of data visualization? • What is ‘Knowledge management’? • What are the emerging trends in information management?

  5. MANAGEMENT CHALLENGES • Building information systems that can actually fulfill executive information requirements. • Create meaningful reporting and management decision-making processes.

  6. DECISION-SUPPORT SYSTEMS (DSS) • Computer system at the management level of an organization. • Combines data, analytical tools, and models. • Supports semi-structured and unstructured decision-making

  7. DECISION-SUPPORT SYSTEMS (DSS) Difference Between MIS and DSS • MIS • Provides reports based on routine flow of data. • Assists in general control of the organization. • DSS • Emphasizes change, flexibility, rapid response, models, assumptions, ad hoc queries, and display graphics.

  8. TYPES OF DECISION-SUPPORT SYSTEMS (DSS) • Model-driven DSS • Primarily stand-alone. • Uses model to perform “what-if” and other kinds of analysis.

  9. TYPES DECISION-SUPPORT SYSTEMS (DSS) • Data-driven DSS • Allows users to extract and analyze useful information from large databases. • Uses Datamining • Finds hidden trends, patterns and relationships in large databases in data warehouses. • Knowledge discovery.

  10. DECISION-SUPPORT SYSTEMS (DSS) Overview of a Decision-Support System (DSS) Figure 11-2

  11. DECISION-SUPPORT SYSTEMS (DSS) Components of Decision-Support Systems • 1. DSS Database: Collection of current or historical data • 2. DSS Software System: Collection of software tools/mathematical and analytical models. • 3. User Interface: Easy interaction.

  12. DECISION-SUPPORT SYSTEMS (DSS) Components of Decision-Support Systems (contd.) • 4. Model • Abstract representation illustrating components or relationships • 5. Sensitivity Analysis • Asks “what-if” questions repeatedly to determine the impact of change.

  13. DECISION-SUPPORT SYSTEMS (DSS) Examples of DSS Applications and the Digital Firm • Railway:Train dispatching and routing. • Texas Oil and Gas Corporation:Evaluation of potential drilling sites • United Airlines:Flight scheduling, passenger demand forecasting • U.S. Department of Defense:Defense contract analysis.

  14. DECISION-SUPPORT SYSTEMS (DSS) DSS for Supply Chain Management • Comprehensive examination of supply chain management. • Searches among large number of alternatives for most efficient and cost-effective combination. • Reduces overall costs. • Increases speed and accuracy of filling customer orders.

  15. DECISION-SUPPORT SYSTEMS (DSS) DSS for Customer Relationship Management • Uses data mining to guide decisions on pricing, customer retention, market share. • Consolidates customer information from massive data warehouses. • Uses various analytical tools to slice information into small segments for one-to-one marketing.

  16. GROUP DECISION-SUPPORT SYSTEMS (GDSS) What Is a GDSS? • Interactive computer-based system. • Facilitates solution to unstructured problems. • For a set of decision makers working together as a group.

  17. GROUP DECISION-SUPPORT SYSTEMS (GDSS) Components of GDSS • Hardware: Conference facility, electronic hardware. • Software tools: Tools for organizing ideas, gathering information, and ranking and seeking priorities. • People: Participants, trained facilitator, staff to support hardware and software.

  18. GROUP DECISION-SUPPORT SYSTEMS (GDSS) GDSS Software Tools • Electronic questionnaires • Electronic brainstorming tools • Idea organizers • Questionnaire tools • Tools for voting or setting priorities

  19. GROUP DECISION-SUPPORT SYSTEMS (GDSS) How GDSS can Enhance Group Decision-Making • Improved preplanning • Increased participation • Open, collaborative meeting atmosphere • Criticism-free idea generation • Evaluation objectivity

  20. EXECUTIVE SUPPORT IN THE ENTERPRISE • Executive Support Systems (ESS) • Information system at strategic level of an organization • Addresses unstructured decision-making through advanced graphics and communications • Brings together data from the entire organization and external sources. • Allows managers to select, access, and tailor data.

  21. Benefits of Executive Support Systems • Analyzes, compares, and highlights trends • Provides greater clarity and insight into data • Speeds up decision-making • Improves management performance • Increases management’s span of control • Better monitoring of activities

  22. DATA AND INFORMATION ANALYSIS METHODS FOR ANALYSIS • Data, Text & Web Mining: Process of searching for unknown or non-obvious relationships or information in large databases using intelligent tools such as neural computing. • Online Analytical Processing (OLAP) : Software tool for users to create on demand reports and queries and analyze data.

  23. DATA VISUALIZATION • It refers to the technologies that support visualizing and interpreting data. • By using these technologies, managers/ engineers/ professionals can spot problems that are undetected by using standard analysis methods

  24. DATA VISUALIZATION The technologies for visual analysis are : - Digital maps, - Geographical information systems -GUI - Videos - Graphs - Animation -Virtual reality - Dimensional presentations

  25. DATA VISUALIZATION GEOGRAPHICAL INFORMATION SYSTEM A computer based system for : • Capturing, ! • Storing, ! • Modeling, ! Geographically referenced data • Retrieving, ! with digitized maps. • Checking, ! • Integrating, ! See website : mapmyindia.com • Manipulating, ! • Analyzing and ! • Displaying!

  26. DATA VISUALIZATION VIRTUAL REALITY (VR) VR is interactive, computer generated, three dimensional graphics delivered to the user through head-mounted display.

  27. KNOWLEDGE MANAGEMENT It is a process that helps organizations : - Identify, ! - Select, ! important information - Organize, ! and expertise that are - Disseminate & ! part of organization’s - Transfer ! memory and that ! typically reside ! within the organization ! in unstructured manner.

  28. 15 TOP EMERGING TRENDS IN INFORMATION MANAGEMENT • More Urgent Calls for Data Governance • Rise of the Well-Managed ‘Intra-Cloud’ • Companies will be Challenged With Cloud Data Integration, • Green IT Will Meet the Cloud • Clouds and Grids Will Converge • Greater Push for Business Intelligence and Performance Management

  29. 15 TOP EMERGING TRENDS IN INFORMATION MANAGEMENT • Rise of Master Data Management for Enterprise Environment and Applications • The Economy Injects Uncertainty into 2009 Plans • Economy Will Drive More Open Source • Virtualization Will Mature to ‘Grade Two’ • Virtualization Will Meet Application Management

  30. 15 TOP EMERGING TRENDS IN INFORMATION MANAGEMENT • More Concern About Virtualization Security • The Rise of Data ‘Visualization’ • More Service Orienting of Business Intelligence (BI) Applications • Developer and DBA World Will Collide

  31. ENHANCING MANAGEMENT DECISION-MAKING FOR THE DIGITAL FIRM

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