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Enabling the Organization – Decision Making and Decision Support Systems

Enabling the Organization – Decision Making and Decision Support Systems. Take Aways. Understand the different types of Decision Support Systems (DSS ) and when/how they are used most effectively Understand basic Excel – absolute and relative referencing

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Enabling the Organization – Decision Making and Decision Support Systems

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  1. Enabling the Organization – Decision Making and Decision Support Systems

  2. Take Aways • Understand the different types of Decision Support Systems (DSS) and when/how they are used most effectively • Understand basic Excel – absolute and relative referencing • Understand how to create a DSS with basic calculations and graphs • What was the approximate Gross Merchandize Volume sold on eBay on Thanksgiving Day, 2008? • $50,000,000

  3. Rational Decision Making Model

  4. Six Thinking Hats Decision Model White is for the observer, and the facts, rumors, and figures involved in making a good decision. Yellow hat is for the positives, benefits, pluses. Blackhat is for the downside to the situation, the logical negative aspect, This hat focuses on the "what could go wrong?" Redis for the emotions, hunches, and intuition that you have. Green is for the new ides and variations, possibilities, and being creative. Blue is for the controller/conductor, the one organizing the thinking, choices, and conclusions.

  5. Intuitive Decision Making

  6. How are Decisions Really Made?

  7. Business Geomatics Decision Support The decisional reality for many businesses, is (March 1991) that they: gather information but do not use it; (b) ask for more and ignore it; and, (c) gather and process a great deal of information that has little or no relevance to decisions. Technological developments have enabled the development of new 'visual' approaches to decision support that aim to harness the intuitive cognitive powers of decision-makers.

  8. Decision-enabling, problem-solving, and opportunity-seizing systems

  9. Types of Decision Support Systems • A model-driven DSSemphasizes access to and manipulation of a statistical, financial, optimization, or simulation model. Model-driven DSS use data and parameters provided by users to assist decision makers in analyzing a situation; they are not necessarily data-intensive. Dicodess is an example of an open source model-driven DSS generator. • A communication-driven DSSsupports more than one person working on a shared task; examples include integrated tools like Microsoft's NetMeeting or Groove

  10. Types of Decision Support Systems • A data-driven DSSor data-oriented DSS emphasizes access to and manipulation of a time series of internal company data and, sometimes, external data. • A document-driven DSSmanages, retrieves, and manipulates unstructured information in a variety of electronic formats. • A knowledge-driven DSSprovides specialized problem-solving expertise stored as facts, rules, procedures, or similar structures

  11. DSS Models Model – a simplified representation or abstraction of reality The following systems use models to support decision making, problem solving, and opportunity capturing: • Decision support systems (DSS) • Executive information systems (EIS) • Artificial intelligence (AI) • Expert Systems • Data mining

  12. Decision Support Systems Components of a Decision Support System

  13. DECISION SUPPORT SYSTEMS Quantitative models typically used by DSS: • Sensitivity analysis – the study of the impact that changes in one (or more) parts of the model have on other parts of the model • What-if analysis – checks the impact of a change in an assumption on the proposed solution • Goal-seeking analysis – finds the inputs necessary to achieve a goal such as a desired level of output • Optimization model – find the optimal solution to a problem given a set of problem constraints

  14. EXECUTIVE INFORMATION SYSTEMS Executive information system (EIS)– a specialized DSS that supports senior level executives within the organization Most EISs offering the following capabilities: • Consolidation– involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information • Drill-down – enables users to get details, and details of details, of information • Slice-and-dice– looks at information from different perspectives

  15. EXECUTIVE INFORMATION SYSTEMS Digital dashboard – integrates information from multiple components and present it in a unified display

  16. Digital Dashboards Product Sales Market Watch Pharmaceutical Application Federal IT Spending Dashboard Retail Sales – Call Center Metrics

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