Business Intelligence And Decision Support – 2 Learning Objectives Understand today’s turbulent business environment and describe how organizations survive and even perform in such an environment. Understand the need for computer support for managerial decision making. Learn the early management decision framework Learn the conceptual foundations of Decision Support Systems (DSS). methodology
3 Learning Objectives Describe the methodology and concepts of Business Intelligence (BI) and relate them to DSS. Explain the concept of work systems and its relationship to decision support. List the main tools for computerized decision support Learn about the main problems of implementing computerized support systems.
Business Intelligence And Decision Support
Companies are moving aggressively to computer support their operations Business Intelligence Business Pressures – Answers – Support Model Business pressures resulting from today’s competitive business environment Answers to overcome the pressures Support for better process facilitation
Big Data, Business Intelligence, And Hr Analytics: How Are They Related?
The environment in which organizations operate today is becoming increasingly complex, creating opportunities and challenges. Example: globalization. Business environment factors: markets, consumer needs, technology and social…
Be reactive, anticipatory, adaptive, and proactive Leaders can take action, such as using strategic planning. Use new and innovative business models. Restructuring of business processes. Participate in business associations. Development of corporate information systems. … more [in your book]
One of the main goals of computerized decision support is to help close the gap between an organization’s current performance and the expected performance expressed in its mission, goals and objectives, and the strategy to achieve them.
An Overview Of Business Intelligence, Analytics, And Decision Support
Interpersonal 1. Figure 2. Leader 3. Contact Information 4. Listener 5. Disseminator 6. Speaker Decision Maker 7. Entrepreneur 8. Troubleshooter 9. Resource Allocator 10. Negotiator
Management is a process by which organizational goals are achieved through the use of resources. Inputs: resources Output: achievement of objectives Measure of success: outputs / inputs Management Decision Making Decision Making: choosing the best solution from two or more alternatives
The decision-making process Defining the problem (a decision situation that deals with some difficulty or opportunity) Building a model that describes the real-world problem Identifying possible solutions to the modeled problem and evaluating the solutions Comparing, selecting and recommending possible solution to the problem
Business Intelligence In A Nutshell
Sufficient alternative solutions are considered. These alternatives must be reasonably anticipated. However, comparisons should be done properly!!
Technology, information systems, advanced search engines and globalization lead to more and more alternatives Government regulation, change, consumer demand, political instability = more uncertainty Learning by trial and error is expensive and difficult The environment is becoming more complex The need for computer support is vital ! >>
Decision Support Systems (DSS) A conceptual framework for supporting management decision-making, typically by modeling problems and using quantitative models in decision analysis
Decision Support System. Dss. Online Business Intelligence Dashboard Concept. Royalty Free Svg, Cliparts, Vectors, And Stock Illustration. Image 88424274
Why you should use computerized decision support systems Fast calculations Better communication and collaboration Increase productivity of group members Improved data management Manage huge data warehouses
Why You Should Use Computerized Decision Support Systems Quality Support Flexibility Support Overcoming Cognitive Barriers During Information Processing and Storage Using the Web Anywhere Anytime Support
Degree of Structure (Simon, 1977) Decisions are classified as highly structured (also known as programmed), semi-structured, highly structured (ie, unprogrammed). Types of control (Anthony, 1965) Strategic planning (top level, long term) Managerial control (tactical planning) Operational control
Decision Support And Business Intelligence Systems, 9th Edition
Computer Support for Structured Decisions Management Science (MS) or Operations Research (OR) Applying a scientific approach and mathematical models to analyze and resolve management decision situations (eg, problems, opportunities) – since 1960.
Computer Support for Structured Decisions Automated Decision Systems (ADS) A business rule-based system that offers solutions for repetitive intelligence-based decisions (eg pricing)
The Decision Support Matrix Traditional MIS and Management Science (MS) tools are not sufficient for semi-structured and unstructured decisions Supporting Information Systems = Decision Support Systems (DSS)
Solution: Knowledge Management Class Notes_22547305 Business Intelligence And Knowledge Management
28 Concept of DSS DSS – interactive computer-based systems that help decision makers use data and models to solve unstructured problems (Gorry and Scott-Morton, 1971) Decision support systems link the intellectual resources of individuals with the capabilities of the computers. improving the quality of decisions. DS as a general concept The evolution of DS in business intelligence
DSS as a collective term: Describes all computer systems that support decision making in an organization DSS as a special application DSS architecture Data models manipulate data related to a specific situation Knowledge component Users User interface
Types of DSS Model-oriented DSS: quantitative models used to generate a proposed solution to a problem Data-oriented DSS: support for ad hoc reports and queries
What Is Business Analytics And Why You Need It For Success
BI is the evolution of decision support concepts over time Then: Management Information System Now: Information System for All (BI) BI systems were enhanced with additional visualizations, alerts and performance measurement capabilities The term BI emerged from the industry.
34 A Brief History of BI The term BI was coined by the Gartner Group in the mid-1990s, but the concept is much older, 1970s – MIS reporting – static/periodic reports 1980s – Executive Information Systems (EIS ) 1990s – OLAP, dynamic , multidimensional, ad hoc reporting -> coining the term “BI” 2010 – Incorporation of AI and data/text mining capabilities; Web Based Portals/Dashboards, Big Data, Social Media, Analytics 2020 – more to come
35 Definition of BI BI is a term without content, so it means different things to different people The main purpose of BI is to allow easy access to data (and models) to enable business managers to perform analysis. BI helps transform data into information (and knowledge), decisions and ultimately action
Pdf] Developing And Leveraging Business Intelligence Systems For Decision Making In Organizations
Data warehouse with source data business analytics, a collection of tools for manipulating, mining, and analyzing business performance management (BPM) data on a data warehouse for monitoring and analyzing user interface performance (eg, a dashboard) .
Data Warehouse Originally contains historical data that is organized and summarized so that end users can easily view or manage data and information. Today, some data warehouses also contain live data, so they provide real-time decision support.
Business analytics Reporting and queries Advanced analytics Data, text and web mining and other sophisticated mathematical and statistical tools
Unit 1 Businees Intelligence And Business Decision
Data mining The process of searching for unknown relationships or information in large databases or data warehouses using intelligent tools such as neural computing, predictive analysis techniques, or advanced statistical methods.
Business Performance Management (BPM) A sophisticated approach to performance measurement and analysis that includes planning and strategy. BPM extends the monitoring, measurement and comparison of sales, profits, costs, profitability and other performance indicators by introducing the concept of “management and feedback BPM”. ensures top-down validation of company-wide strategy
Business Performance Management User Interface Dashboard Visual representation of critical data for managers. It allows managers to see hot spots and diagnose the situation in seconds. Dashboards integrate information from multiple business areas Visualization tools
Clinical Decision Support System Market Procurement Intelligence Report With Covid 19 Impact Analysis
BI report delivery and alert styles enterprise reporting (dashboard, scorecard) cube analysis (slice and cube analysis) statistics for ad hoc queries and data mining
The DSS-BI relationship The architecture is very similar because BI developed by DSS DSS are designed to directly support specific decision making; BI systems are designed to provide accurate and timely information (indirect support).
DSS-BI relational BI systems are built with commercially available tools and components that meet the needs of organizations; More programming in DSS is used to create unique solutions to highly unstructured problems. DSS was developed mostly in the academic world; BI is primarily developed by software companies. Many of the tools used by BI are also considered DSS tools (eg data mining and predictive analytics).
Business Intelligence And Analytics: Systems For Decision Support: Sharda, Ramesh, Delen, Dursun, Turban, Efraim: 9780133050905: Books
Decisions can be complex – with trade-offs due to capacity – so you may need to automate decisions. The rules you use evolve and improve over time. You can measure the consequences of decisions – good and bad. You can bind solutions to solutions. business purposes
Something new or just a new name… SAS Institute Inc. proposed eight levels of analysis. The Institute for Research in Operations and Management Sciences (INFORMS). He created a major initiative to organize and promote analytics.
52 Analytics Overview A Simple Taxonomy of Analytics (Proposed by INFORMS) Descriptive Analytics Predictive Analytics Prescriptive Analytics or Data Science?
Decision Making And Business Intelligence
Not just big! Volume Variable rate You can read more about Big Data and related analysis tools and techniques in Chapter 13.
(Chapters 1 and 2) II. part – Descriptive analysis (Chapters 3 and 4) III. part – Prognostic analysis Chapters 5 – 8 IV. Part – Prescriptive Analytics Part V – Big Data and Future Directions for Business Analytics Chapters 13 and 14
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Improving Decision Making And Managing Knowledge
Typical information used by DSS includes
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