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CHAPTER 1 FOUNDATIONS OF IS

CHAPTER 1 FOUNDATIONS OF IS. Subject Name: MANGEMENT INFORMATION SYSTEM Subject Code:10IS72 Prepared By: Atul Talukder Department: ISE Date: 12 November 2014. Engineered for Tomorrow. Descriptor Lorem Ipsum Dolor Sit Amet, Consectetuer Adipiscing. Date dd.mm.yy. Client

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CHAPTER 1 FOUNDATIONS OF IS

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  1. CHAPTER 1 FOUNDATIONS OF IS Subject Name: MANGEMENT INFORMATION SYSTEM Subject Code:10IS72 Prepared By: Atul Talukder Department: ISE Date: 12 November 2014 Engineered for Tomorrow Descriptor Lorem Ipsum Dolor Sit Amet, Consectetuer Adipiscing Date dd.mm.yy Client So & So Software Pvt. Ltd

  2. UNIT 6Decision Support Systems

  3. Introduction, Decision Support Trends, DSS

  4. As companies migrate toward response e-business models, they are investing in new data driven decision support application frameworks that help them respond rapidly to changing market conditions and customer needs. Decision support systems are gaining an increased popularity in various domains, including business, engineering, the military, and medicine. They are especially valuable in situations in which the amount of available information is prohibitive for the intuition of an unaided human decision maker and in which precision and optimality are of importance. Decision support systems can aid human cognitive deficiencies by integrating various sources of information, providing intelligent access to relevant knowledge, and aiding the process of structuring decisions. They can also support choice among well-defined alternatives and build on formal approaches, such as the methods of engineering economics, operations research, statistics, and decision theory . They can also employ artificial intelligence methods to address heuristically problems that are intractable by formal techniques. Proper application of decision-making tools increases productivity, efficiency, and effectiveness and gives many businesses a comparative advantage over their competitors, allowing them to make optimal choices for technological processes and their parameters, planning business operations, logistics, or investments.

  5. The word decision is derived from the latin root decido meaning to cut off. • The concept of decision therefore is settlement a fixed intention bringing to a conclusive result a judgment and a resolution. • A decision is the choice out of several options made by the decision maker to achieve some objective in a given situation. • Business decisions are those which are made in the process of conducting business to achieve its objectives in a given environment. • The major characteristics of the business decision making are: • Sequential in nature • Exceedingly complex due to risks and tradeoffs • Influenced by personal values • Made in institutional settings and business environment.

  6. Information requirements of decision makers Decision Structure Information Characteristics Unstructured Ad hoc Unscheduled Summarized Infrequent Forward looking External Wide Scope Strategic Management Executives and Directors Information Decisions Semi structured Tactical Management Business Unit Managers and self-directed Teams Prespecified Scheduled Detailed Frequent Historical Internal Narrow Focus Operational Management Operating Managers and self- Directed Teams Structured

  7. DSS – Decision Support System

  8. Decision Support Systems are computer-based information systems that provide interactive information support to managers and business professionals duringt he decision making process. Decision support systems use:1) Analytical models2) Specialized database3) a decision maker’s own insights and judgments and4) an interactive, computer based modeling process to support the making of semi structured business decision.

  9. Legacy Software Web browser Other Software User Interface Functions Hyperlinked Multimedia,3-d Visualization Components of a web-enabled marketing DSS Model Management Functions Analytical Modeling, Statistical Analysis Data Management Functions Data Extraction, Validation, Sanitation ,Integration and Replication Operational Data Market data Sales data Customer Account data Data Marts and Other Databases

  10. MIS – Management Information System

  11. Management Information Systems were the original type of information system developed to support managerial decision making. MIS provide a variety of information products to managers like:1) Periodic Schedule Reports2) Exception Reports3) Demand Reports and Responses4) Push Reporting

  12. OLAP– Online Analytical Processing

  13. OLAP enables managers and analysts to interactively examine and manipulate large amounts of detailed and consolidated data from many perspective. OLAP involves several basic analytical operations, these are:1) Consolidation2) Drill down3) Slicing and Dicing

  14. Using DSS

  15. Using a DSS involves an interactive Analytical Modeling Process. Using DSS involves four basic types of analytical modeling activities:1) What-if Analysis2) Sensitivity Analysis 3) Goal Seeking Analysis4) Optimization Analysis

  16. EIS – Executive Information System

  17. EIS are information systems that combine many of the features of management information systems and decision support systems. In an EIS, information is presented in forms tailored to the preferences of the executives using the system.

  18. Enterprise Portals

  19. Portals are for everyone not just for executives • An Enterprise Information Portal (EIP) is Web-based interface and integration of MIS, DSS, EIS and other technologies that gives all internet users and selected extranet users access to a variety of internal and external business applications and services.

  20. Knowledge Management System

  21. KMS helps to gather, organize and share business knowledge within an organization. These knowledge frequently takes the form of best practices, policies, and business solutions at the project, team, business unit, and enterprise levels of the company.

  22. Business and Artificial Intelligence

  23. AI technologies are being used in a variety of ways to improve the decision support provided to managers and business professionals in many companies. • AI is a field of science and technology based on disciplines such as computer science, biology, psychology, linguistics, mathematics and engineering. • The goal of AI is to develop computers that can simulate the ability to think, as well as see, hear, walk, talk and feel.

  24. AI and Expert System

  25. One of the most practical and widely implemented applications of AI in business is the development of expert systems and other knowledge based information systems. A knowledge based information system (KBIS) adds a knowledge base to the major components found in other types of computer based information system. An expert system (ES) is a knowledge based information system that uses its knowledge about a specific, complex application area to act as an expert consultant to end users.

  26. Components of an Expert System • Knowledge Base • Software Resources

  27. Engineered for Tomorrow THANK YOU

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