Changing Business Envronment Flashcards
three components of the Business Pressures Support Model:
1) business climate.
2) responses (actions taken) by companies to counter the pressures to take advantage of the opportunities available.
2) computerized support system.
Automated Decision Support (ADS)
A rule-based system that provides a solution, usually in one functional area to a specific repetitive problem, usually in one industry.
Bussines Inteligence (BI)
An umbrella term that combines architectures, tools, databases, analytical tools, applications and methodologies.
Business Environment Factors:
1) Markets such as globalization, strong competition, booming electric markets on the internet, innovative marketing methods, opportunities for outsourcing with IT support, and the need for real-time.
2) Customer demands such as customization, desire for quality, diversity, and speed of delivery.
3) Technology such as more innovations, increasing obsolescence rate, increasing information overload and social networking web 2.0 and beyond.
4) Social.
Management:
process by which organizational goalsare achieved by using resources. The resources are considered input, attainment of goals is viewed as the output.
Decision Making
Selecting the best aternative from two or more solutions.
depends on the performance of managerial functions such as planning, organizing, leading, controlling.
Dashboard
provide a comprehensive visual of corporate performance measures, trends, and expections.
Data Mining
A process of sharing for unknown relationships or info in a large databases or data warehouse, using intelligent tools such as neural computing, predictive analytics techniques, or advanced statistical methods.
DSS
An interactive computer-based system, in which decision makers utilize data and models to solve unstructured problems.
DSS can be viewed as a conceptual methodology.
Integrated computerized Decision Support
several types of computer tools and teqhinques used together to assist managers in problem solving faster and better than possible without computer.
Decision Support and Analytics in number of way:
1) Group Communicatin and Collaboration.
2) Improved Data Management.
3) Managing Gaint Data Earehouse and Big Data.
4) Analytical Support.
5) Overcoming cognitive limits in processing and storing information.
6) Knowledge Management.
7) Anywhere, Any time Support
Cognitive Limite
individual’s problem solving capability is limited when a wide range of diverse information and knowledge is required.
Group Communication and Collaboration
IS can improve the collaboration process of a group and enable its members to be at different locations.
Assembling group of decision makers especially experts.
Improved Data Management
it may be necessary to transmit data quickly from distant locations. Systems these days can search, store, transmit needed data , economically, securely and transparently.
Semistructured problem
Fall between structured and unstructured problems having elements of both.
