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    Improving Decision Making and Managing Knowledge

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    Teja Ravi
    This document discusses how information systems can improve decision making and manage knowledge in businesses. It describes different types of decisions, stages in decision making processes, and how management information systems, decision support systems, executive support systems, group decision support systems, and intelligent techniques can support decision making. It also defines knowledge management and describes enterprise-wide knowledge management systems and knowledge work systems that are used to create, store, transfer and apply knowledge in businesses.

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    Improving Decision Making and Managing Knowledge

    Uploaded by

    Teja Ravi
    106 views22 pages
    This document discusses how information systems can improve decision making and manage knowledge in businesses. It describes different types of decisions, stages in decision making processes, and how management information systems, decision support systems, executive support systems, group decision support systems, and intelligent techniques can support decision making. It also defines knowledge management and describes enterprise-wide knowledge management systems and knowledge work systems that are used to create, store, transfer and apply knowledge in businesses.

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    Chapter 10

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    This document discusses how information systems can improve decision making and manage knowledge in businesses. It describes different types of decisions, stages in decision making processes, and how management information systems, decision support systems, executive support systems, group decision support systems, and intelligent techniques can support decision making. It also defines knowledge management and describes enterprise-wide knowledge management systems and knowledge work systems that are used to create, store, transfer and apply knowledge in businesses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    106 views22 pages

    Improving Decision Making and Managing Knowledge

    Uploaded by

    Teja Ravi
    This document discusses how information systems can improve decision making and manage knowledge in businesses. It describes different types of decisions, stages in decision making processes, and how management information systems, decision support systems, executive support systems, group decision support systems, and intelligent techniques can support decision making. It also defines knowledge management and describes enterprise-wide knowledge management systems and knowledge work systems that are used to create, store, transfer and apply knowledge in businesses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 22

    Improving Decision Making and Managing Knowledge

    Essentials of Business Information Systems


    STUDENT OBJECTIVES

    Compare different types of decisions and describe the decision-making process. Evaluate the role of information systems in helping people working individually and in groups make decisions more effectively. Evaluate the business benefits of using intelligent techniques in decision making and knowledge management.

    Essentials of Business Information Systems


    STUDENT OBJECTIVES

    Define and describe the types of systems used for enterprise-wide knowledge management and demonstrate how they provide value for businesses. Define and describe the major types of knowledge work systems and demonstrate how they provide value for firms.

    Essentials of Business Information Systems


    Chapter 10 Improving Decision Making and Managing Knowledge Decision Making and Information Systems

    Business Value of Improved Decision Making Measuring the value of improved decision making Identifying key decisions that may benefit from new system investments that could improve decision making Decisions may be common, routine, and numerous Value of improving multitudes of small decisions that may not provide much value as single decisions

    Essentials of Business Information Systems


    Decision Making and Information Systems

    Types of Decisions Unstructured the decision maker must provide


    judgment, evaluation and insight to solve the problem

    Structured repetitive and routine. Involves a definite


    procedure

    Semistructured contains elements of both unstructured


    and structured decisions

    Essentials of Business Information Systems


    Decision Making and Information Systems

    Information Requirements of Key Decision-Making Groups in a Firm

    Senior managers, middle managers, operational managers, and employees have different types of decisions and information requirements.

    Figure 10-1

    Essentials of Business Information Systems


    Decision Making and Information Systems

    The Decision-Making Process Intelligence discovering, identifying, and understanding


    the problem

    Design identifying and exploring various solutions Choice choosing among solution alternatives Implementation putting the solution into operation and
    monitoring results

    Essentials of Business Information Systems


    Decision Making and Information Systems

    Stages in Decision Making

    The decision-making process can be broken down into four stages.

    Essentials of Business Information Systems


    Decision Making and Information Systems

    Quality of Decisions and Decision Making Accuracy Comprehensiveness

    Fairness
    Speed (efficiency) Coherence

    Due process

    Essentials of Business Information Systems


    Decision Making and Information Systems

    Systems and Technologies for Supporting Decisions Management information systems (MIS) Decision-support systems (DSS)

    Executive support systems (ESS)


    Group-decision support systems (GDSS) Intelligent techniques

    Essentials of Business Information Systems


    Systems for Decision Support

    Management Information Systems (MIS) Help managers monitor and control a business Produce regular reports on performance, such as monthly or annual sales Sometimes highlight exceptional conditions Reports often available online

    Essentials of Business Information Systems


    Systems for Decision Support

    Decision-Support Systems (DSS) Support semistructured and unstructured problem analysis Model-driven
    What-if analysis

    Data-driven
    Online analytical processing (OLAP)

    Essentials of Business Information Systems


    Systems for Decision Support

    Components of DSS DSS database DSS software system

    Models
    Sensitivity analysis DSS user interface

    Essentials of Business Information Systems


    Systems for Decision Support

    Examples of DSS Burlington Coat Factory: DSS for pricing decisions Parkway Corporation: DSS for asset utilization

    Compass Bank: DSS for customer relationship management

    Essentials of Business Information Systems


    Systems for Decision Support

    Data Visualization and Geographic Information Systems (GIS) Data visualization tools present data in graphical form to help users see patterns and relationships in large quantities of data

    Geographic information systems (GIS) use data visualization technology to analyze and display data in the form of digitized maps GIS support decisions that require knowledge about the geographic distribution of people or other resources

    Essentials of Business Information Systems


    Systems for Decision Support

    Web-Based Customer Decision-Support Systems (CDSS) Interactivity and personalization Intensity of information

    Customer decision-support systems assist customers in the decision-making process


    Search engines, intelligent agents, online catalogs, Web directories, newsgroups, e-mail, etc.

    Essentials of Business Information Systems


    Systems for Decision Support

    Executive Support Systems (ESS) Give senior executives a picture of the overall performance of an organization

    Enable an executive to zoom in on details or zoom out for a broader view


    Drill down capability

    Digital dashboard

    Essentials of Business Information Systems


    Systems for Decision Support

    Group Decision-Support Systems (GDSS) Interactive, computer-based systems that facilitates solving of unstructured problems by a set of decision makers Used in conference rooms with special hardware and software Support increased meeting sizes with increased productivity

    Essentials of Business Information Systems


    Intelligent Systems for Decision Support

    Artificial intelligence (AI) Expert systems


    Knowledge base Inference engine Knowledge engineer

    Case-based reasoning Fuzzy logic systems

    Neural networks
    Genetic algorithms Intelligent agents

    Essentials of Business Information Systems


    Intelligent Systems for Decision Support

    Intelligent Agents in P&Gs Supply Chain Network

    Intelligent agents are helping Procter & Gamble shorten the replenishment cycles for products, such as a box of Tide.

    Figure 10-11

    Essentials of Business Information Systems


    Systems for Managing Knowledge

    Knowledge management: business processes developed for creating, storing, transferring, and applying knowledge Enterprise-Wide Knowledge Management Systems Structured knowledge systems

    Semistructured knowledge systems


    Knowledge network systems Portals, collaboration tools, and learning management systems

    Essentials of Business Information Systems


    Systems for Managing Knowledge

    Knowledge Work Systems (KWS) Requirements of knowledge work systems Examples of knowledge work systems
    Computer-aided design (CAD) systems
    Virtual reality systems Virtual Reality Modeling Language (VRML)

    Investment workstations

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