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Decision Support Systems

Decision Support Systems. Julie Muller Lizzy VanHorn Michael Stocks. An information system that utilizes analytical modeling and helps executives make strategic decisions DSS are user-driven and rely on the knowledge possessed by its user. What is a DSS?.

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Decision Support Systems

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  1. DecisionSupport Systems Julie Muller Lizzy VanHorn Michael Stocks

  2. An information system that utilizes analytical modeling and helps executives make strategic decisions DSS are user-driven and rely on the knowledge possessed by its user What is a DSS?

  3. Structured or Unstructured?Strategic or Operational?

  4. Information Characteristics Decision Structure Ad HocUnscheduledSummarizedInfrequentForward LookingExternalWide Scope Unstructured StrategicManagement Semi-structured Tactical Management Pre-specifiedScheduledDetailedFrequentHistoricalInternalNarrow Focus Operational Management Structured

  5. Who in an organization do you think would use a Decision Support System??

  6. Executives Enterprise Collaboration System Executive Information System Managers DSS MIS TPS PCS Operational Systems and Staff 0 Information Flow SystemInformationFlow InformationExchange/Communication

  7. Types of DSS • Model-driven • Data-driven • Communication-driven • Document-driven • Knowledge-driven

  8. Why Use a DSS? Linear Programming Regression Analysis Decision Trees Forecasting

  9. Accurate Complete Economical Flexible Reliable Relevant Simple Timely Verifiable Accessible Secure Content of Information?

  10. Most Important • Accurate • Complete • Flexible • Relevant • Timely

  11. DSS Reporting is produced through Analytical Modeling • Goal seeking • Sensitivity • What-If Scenarios • Optimization

  12. Analytical Modeling

  13. Online Analytical Processing (OLAP) Client PCs OLAP Server Corporate Databases Multi- Dimensional Database

  14. RECALL: What is the difference between an MIS and a DSS? MIS- Shows past and present, tells problem but does not give a solution DSS- Use forecasting and predictive models but human makes the end decision

  15. MIS • Provides information about the performance of an organization • Contains information, but does not help an executive determine the best decision to make • Generic & periodic reports

  16. DSS • Explores possible alternatives and develops models to help predict outcomes of situations. • Produces flexible, adaptive reports generated through an interactive interface. • May only be generated once • Customized, non-generic

  17. Fair Isaac • Enterprise Decision Management • Business rules • Predictive models • Decision service • Normally total $200,000 plus

  18. Fair Isaac’s Success • More than 5000 businesses in more than 80 countries • 9 of the top 10 companies in the Fortune 500 • Multiple success stories of big and small companies

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