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114 Cards in this Set
- Front
- Back
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decision support in business
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companies are investing in data-driven decision support application frameworks to help them respond to
*changing market conditions *customer needs accomplished through *management information *decision support *other information systems |
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levels of managerial decision making
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top: strategic management
*executives and directors middle: tactical management *business and self-directed teams bottom: operational management *operating managers and self-directed teams |
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information quality
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information products made more valuable by their attributes, characteristics, or qualities
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three dimensions of information
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time
content form |
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attributes of time
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timeliness
currency frequency time period |
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attributes of content
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accuracy
relevance completeness conciseness scope performance |
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attributes of form
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clarity
detail order presentation media |
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structured (operational) decision structure
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the procedures to follow when decision is needed can be specified in advance
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unstructured (strategic) decision structure
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it is not possible to specify in advance most of the decision procedures to follow
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semi-structured (tactical)
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decision procedures can be pre-specified, but not enough to lead to the correct decision
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what decision support systems use to support the making of semi-structured business decisions
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analytical models
specialized databases a decision-maker's own insights and judgments an interactive, computer-based modeling process |
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DSS model base
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a software component that consists of models used in computational and analytical routine that mathematically express relations among variables
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spreadsheet examples
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linear programming
multiple regression forecasting capital budgeting present value |
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supply chain
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simulate and optimize supply chain flows, reduce inventory, reduce stock-outs
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pricing
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identify the price that maximized yield or profit
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product and service quality
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detect quality, efficacy, and safety of products and services
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management information systems
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original type of information system that supported managerial decision making
*produces information products that support many day-to-day decision-making needs *produces reports, display, and responses *satisfies needs of operational and tactical decision makers who face structured decisions |
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periodic scheduled reports
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*prespecified format on a regular basis
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exception reports
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*reports about exceptional conditions
*may be produced regularly or when an exception occurs |
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demand reports and responses
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*information is available on demand
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push reporting
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information is pushed to a networked computer
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online analytical processing
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OLAP
*enables managers and analysts to examine and manipulate large amounts of detailed and consolidated data from many perspectives *done interactively, in real time, with rapid response to queries |
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consolidation
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*aggregation of data
*ex: data about sales offices rolled up to the district level |
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drill-down
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*display underlying detail data
*ex: sales figures by individual product |
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slicing and dicing
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*viewing database form different viewpoints
*often performed along a time axis |
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data mining
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provides decision support through knowledge discovery
*analyzes vast stores of historical business data *looks for patterns, trends, and correlations *goal is to improve business performance |
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types of data mining analysis
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regression
decision tree neural network cluster detection market basket analysis |
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GIS
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geographic information system
*DSS uses geographic databases to construct and display maps and other graphic displays *supports decisions affecting the geographic distribution of people and other resources *often used with global positioning systems (GPS) devices |
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DVS
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data visualization systems
*represents complex data using interactive three-dimensional graphical forms (charts, graphs, maps) *helps users interactively sort, subdivide, combine, and organize data while it is in its graphical form |
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sensitivity analysis
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observing how repeated changes to a single variable affect other variables
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goal-seeking analysis
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making repeated changes to selected variables until a chosen variable reaches a target value
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optimization analysis
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finding an optimum value for selected variables, given certain constraints
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market basket analysis
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one of the most common uses for data mining
*determines what products customers purchase together with other products |
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market basket analysis results affect how companies....
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market products
place merchandise in the store lay out catalogs and order forms determine what new products to offer customize solicitation phone calls |
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EIS
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executive information system
*combines many features of MIS and DSS *provide top executives with immediate and easy access to information *identify factors that are critical to accomplishing strategic objectives (critical success factors) *so popular that it has been expanded to managers, analysis, and other knowledge workers |
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features of an EIS
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information presented in forms tailored to the preferences of the executives using the system
*customizable graphical user interfaces *exception reports *trend analysis *drill down capability |
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enterprise information portals (EIP)
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web-based interface and integration of MIS, DSS, EIS, and other technologies
*also called enterprise knowledge portals |
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artificial intelligence (AI)
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field of science and technology based on
*computer science *biology *psychology *linguistics *mathematics *engineering goal is to develop that can simulate the ability to think *see, hear, walk, talk, and feel as well |
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attributes of intelligent behavior
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*think and reason
*use reason to solve problems *learn or understand from experience *acquire and apply knowledge *exhibit creativity and imagination *deal with complex or perplexing situations *respond quickly and successfully to new situations *recognize the relative importance of elements in a situation *handle ambiguous, incomplete, or erroneous information |
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domains of artificial intelligence
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*cognitive science applications
*robotics applications *natural interface applications |
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cognitive science
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focuses on how the human brain works and how humans think and learn
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robotics
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AI, engineering, and physiology are the basic disciplines of robotics
*produces robot machines with computer intelligence and humanlike physical capabilities *includes applications designed to give robots the powers of *sight or visual perception *touch *dexterity *locomotion *navigation |
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natural interfaces
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major thrusts in the area of AI and the development of natural interfaces
*natural languages *speech recognition *virtual reality involves research and development in *linguistics *psychology *computer science *other disciplines |
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AI decision support
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helps capture the why as well as the what of engineered design and decision making
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AI information retrieval
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*distills tidal waves of information into simple presentations
*natural language technology *database mining |
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AI virtual reality
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*x-ray-like vision enabled by enhanced-reality visualization helps surgeons
*automated animation and haptic interfaces allow users to interact with virtual objects |
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AI robotics
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*machine-vision inspections systems
*cutting-edge robotics systems -from micro robots and hands and legs, to cognitive and trainable modular vision systems |
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expert systems
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(ES)
*a knowledge-based information system *contain knowledge about a specific, complex application area *acts as an expert consultant to end users |
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ES knowledge base
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*facts about a specific subject area
*heuristics that express the reasoning procedures of an expert (rules of thumb) |
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ES software resources
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*an inference engine processes the knowledge and recommends a course of action
*user interface programs communicate with the end user *explanation programs explain the reasoning process to the end user |
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case-based method of knowledge representation
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*knowledge organized in the form of cases
*cases are examples of past performance, occurrences, experiences |
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frame-based method of knowledge representation
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*knowledge organized in a hierarchy or network of frames
*a frame is a collection of knowledge about an entity, consisting of a complex package of data values describing its attributes |
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object-based method of knowledge representation
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*knowledge represented as a network of objects
*an object is a data element that includes both data and the methods or processes that act on those data |
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rule-based method of knowledge representation
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*knowledge represented in the form of rules and statements of fact
*rules are statements that typically take the form of a premise and a conclusion (if, then) |
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expert system application categories
*decision management |
*loan portfolio analysis
*employee performance evaluation *insurance underwriting |
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expert system application categories
*diagnostic/troubleshooting |
*equipment calibration
*help desk operations *medical diagnosis *software debugging |
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benefits of expert systems
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captures the expertise of an expert of group of experts in a computer-based information system
*faster and more consistent than an expert *can contain knowledge of multiple experts *does not get tired or distracted *cannot be overworked or stressed *helps preserve and reproduce the knowledge of human experts |
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limitations of expert systems
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*limited focus
*inability to learn *maintenance problems *development cost *can only solve specific types of problems in a limited domain of knowledge |
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domain
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the domain or subject area of the problem is small and well-defined
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expertise
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a body of knowledge, techniques, and intuition is needed that only a few people possess
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complexity
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solving the problem is a complex task that requires logical inference processing
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structure
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the solution process must be able to cope with ill-structured, uncertain, missing, and conflicting data and a changing problem situation
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availability
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an expert exists who is articulate, cooperative, and supported by the management and end users involved in the development process
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development tool
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expert system shell
*the easiest way to develop a expert system *a software package consisting of an expert system without its knowledge base *has an inference engine and user interface programs |
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knowledge engineer
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*works with experts to capture with knowledge (facts and rules of thumb) they possess
*builds the knowledge base, and if necessary, the rest of the expert system *performs a role similar to that of systems analysts in conventional information systems development |
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neural networks
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computing systems modeled after the brain's mesh-like network of interconnected processing elements (neurons)
*interconnected processors operate in parallel and interact with each other *allows the network to learn from the data it processes |
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fuzzy logic
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*resembles human reasoning
*allows for approximate values and inferences and incomplete or ambiguous data *uses terms such as "very high" instead of precise measures *used more often in Japan than in the U.S. *used in fuzzy process controllers used in subway trains, elevators, and cars |
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genetic algorithms
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genetic algorithm software
*uses Darwinian, randomizing, and other mathematical functions *simulates an evolutionary process, yielding increasingly better solutions to a problem *being uses to model a variety of scientific, technical, and business processes *especially useful for situations in which thousands of solutions are possible |
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virtual reality (VR)
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a computer-simulated reality
*fast-growing area of artificial intelligence *originated from efforts to build natural, realistic, multi-sensory human-computer interfaces *relies on multi-sensory input/output devices *creates a three-dimensional world through sight, sound, and touch *also called telepresence |
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VR applications
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*computer-aided design
*medical diagnostics and treatment *scientific experimentation *flight simulation *product demonstrations *employee training *entertainment |
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intelligent agents
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a software surrogate for an end user or a process that fulfills a stated need or activity
*uses built-in and learned knowledge base to make decision and accomplish tasks in a way that fulfills the intentions of a user *also called software robots or bots |
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interface tutors
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observe user computer operations, correct user mistakes, provide hints/advice on efficient software use
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presentation agents
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show information in a variety of forms/media based on user preferences
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network navigation agents
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discover paths to information, provide ways to view it based on user preferences
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role-playing
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play what-if games and other roles to help users understand information and make better decisions
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search agents
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help users find files and databases, search for information, and suggest and find new types of information products, media, resources
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information brokers
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provide commercial services to discover and develop information resources that fit business or personal needs
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information filters
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receive, find, filter, discard, save, forward, and notify users about products received or desire, including e-mail, voice mail, and other information media
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cloud computing
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interrelated computers to create large databases/websites
*dynamically changing *pay as you go |
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common usage of cloud computing
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*trying to balance capacity
*retail-Amazon or Target *infrequent database storage and processing *accessibility of documents across companies |
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benefits of cloud computing
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*only pay for what you need
*shared infrastructure |
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drawbacks of cloud computing
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*internet may go down
*very new (no one really knows how to work it) *viruses *data security *property laws |
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major players of cloud computing
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*Amazon (only one up now)
*Google (has a set way to use it) *Microsoft |
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strategic planning
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*deals with the development of an organization's mission, goals, strategies, and policies
*begins with strategic visioning questions |
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tactical planning
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*the setting of objectives and the development of procedures, rules, schedules, and budgets
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operational planning
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*done on a short-term basis to implement and control day-to-day operations
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the scenario approach
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gaining in popularity as a less formal, but more realistic, strategic planning methodology
*teams of managers and planners participate in microworld or virtual world exercises *business scenarios are created and evaluated *alternative scenarios are then created |
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strategic business/IT planning
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involves evaluating the potential benefits and risks of using IT-based strategies and technologies for competitive advantage
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SWOT
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Strengths-a company's core competencies and resources
Weaknesses-areas of substandard business performance compared to others Opportunities-potential for new business markets or innovative breakthroughs that might expand current markets Threats-anything that has the potential for business and market losses |
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business models answer vital questions about the fundamental components of a business
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who are our customers?
what do our customers value? how much will it cost to deliver that value? how do we make money in this business? |
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business models as planning tools
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a business model forces rigorously and systematic thinking about the value and viability of business initiatives
*the strategic planning process is then used to develop unique business strategies that capitalize on a business model *the goal is to gain a competitive advantage in an industry or marketplace |
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three major components of business/IT planning process
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-strategic development
-resource management -technology architecture |
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information technology architecture
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conceptual design that includes these major components
-technology platform -data resources -application architecture -IT organization |
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balanced scorecard
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measures a company's activities in terms of vision and strategies
four processes: -translating vision into operational goals -communicating the vision and linking it to individual performance -business planning -feedback/learning and strategy adjustment |
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perspectives a scorecard measures
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financial-reflects financial performance, such as cash flow or ROI
customer-measures having a direct impact on customers, such as time to process phone calls business process-reflects the performance of key business processes, such as time spent prospecting or process costs learning/growth-the company's learning curve, such as how many hours are spent training staff |
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strategic matrix-cost and efficiency improvements
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*use the internet as a fast, low-cost way to communicate and interact with others
*use of e-mail, chat systems, discussion groups, and company websites |
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strategic matrix-performance improvement in effectiveness
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*major improvements in business effectiveness recommended
*increase use of Internet-based technologies such as intranets and extranets |
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global market penetration
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-capitalize on a high degree of customer and competitor connectivity and use of IT
*use e-commerce websites with value-added information services and extensive online customer support |
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product and service transformation
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*develop and deploy new internet-based products and services that strategically reposition it in the marketplace
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market creator
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be among the first to market and remain ahead of the competition by continuously innovating
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channel reconfiguration
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use the Internet as a new channel to directly access customers, make sales, and fulfill orders
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transaction intermediary
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use the internet to process purchases
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infomediary
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use the Internet to reduce the search cost; offer a unified process for collecting the information needed to make a large purchase
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self-service innovator
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provide a comprehensive suit of services that the customer's employees can use directly
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supply chain innovator
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use the Internet to streamline supply chain interactions
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channel mastery
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use the Internet as a sales and service channel
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latest Implementation in information technology
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e-business
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end user resistance and involvement
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any way of doing things that generates some resistance from the people affected
*CRM projects have a history of failure |
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keys to solving end user resistance problems
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*education training
*end-user involvement in organizational changes and system development *requiring involvement and commitment of top management and all stakeholders |
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change management
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implementing a new e-business application may involve:
-developing an action plan -assigning managers as change sponsors -developing employe change teams -encouraging open communications and feedback about organizational changes |
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change managements key tactics
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-involve as many people as possible in e-business planning and application development
-make constant change an expected part of the culture -tell everyone as much as possible about everything, as often as possible, in person -make liberal use of financial incentives and recognition -work within the company culture, not around it |
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IS development
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when the systems approach is applied to the development of an information systems solution to business problems, it is called information systems development or application development
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systems approach
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*problem solving technique that uses a systems orientation to define problems and opportunities and develop appropriate and feasible solutions
*analyzing a problem and formulating a solution involves these interrelated activities -recognize and define a problem or opportunity using systems thinking -develop and evaluate alternative system solutions -select the solution that best meets your requirements -design the selected system solution -implement and evaluate the success of the system |
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systems thinking
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*seeing the forest AND the trees in any situation
-seeing interrelationships among systems rather than linear cause-and-effect chains -seeing processes of change among systems rather than discrete snapshots of change *see the SYSTEM in any situation -find the input, processing, output, feedback and control components |
