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CIS 429—Chapter 9 Enabling the Organization— Decision Making

CIS 429—Chapter 9 Enabling the Organization— Decision Making. Decision Making. An organization may acquire and store vast amounts of data and ______________ How can these data be used to make good business decisions? A _____ is an abstraction (simplification) of reality

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CIS 429—Chapter 9 Enabling the Organization— Decision Making

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  1. CIS 429—Chapter 9Enabling the Organization—Decision Making

  2. Decision Making • An organization may acquire and store vast amounts of data and ______________ • How can these data be used to make good business decisions? • A _____ is an abstraction (simplification) of reality • An organization can use information to construct a model for decision-making

  3. Transaction Processing Systems • Online transaction processing (OLTP) captures and stores basic transactional data • A transaction processing system (TPS) is the system that serves ___________ tasks; for example • Payroll system • Order-entry system • Online __________ processing (OLAP) is the processing of information to create business intelligence to support strategic decision making

  4. Decision Support Systems • A decision _________ system (DSS) models information to support managerial decision-making • Three quantitative models used by DSSs • What-if analysis • What happens to the output, IF various inputs are changed? • Often performed using ______________ • Sensitivity analysis • How sensitive are the ________ to changes in the inputs? • Goal-seeking analysis • What inputs are necessary to achieve predetermined goals? • A _____ supplies the basic data used by a DSS

  5. Executive Information Systems • An EIS is a DSS that supports top-level executive decision-making • Capabilities of many EISs • Consolidation (___________ of information to complex groupings) • Drill-down (acquiring more detailed information when needed) • Slice-and-dice (viewing information from different perspectives) • Digital dashboards • EIS that integrates information from multiple sources, _________ to the individual preferences of executives

  6. Artificial Intelligence (AI) • Artificial intelligence is HW and SW that simulates _______ intelligence to solve problems • An AI system is a commercial application of artificial intelligence; types of AI systems are • Expert systems (imitate the reasoning of an expert) • Neural networks (imitate the working of the human ______ by detecting patterns in data or using fuzzy logic) • Genetic algorithms (imitates evolutionary, survival of the fittest processes) • Intelligent ______ (a special-purpose knowledge-based system that performs specific task for a user)

  7. Data Mining • Wal-Mart applies to point-of-______ (POS) data to create business intelligence resulting in highly accurate sales forecast by product and store. • Data mining uses existing data sets to create ___________, which are then applied to new data sets. • Types of data mining analysis: • Cluster analysis: divide data into __________ exclusive groups that can then be treated differently • Association detection: degree to which variables are related (e.g., market basket analysis) • Statistical analysis: correlations, distributions, statistical models (e.g., ___________ information for forecasting)

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