This week we went through chapter 5 of the text book and started by looking at how the decision-maker goes through three steps while making a decision, whether it is personal or organisational. These steps are intelligence, design, and choice.
Numerous information technologies have been employed to help managers. They are called business intelligence information systems (BI) when taken as a whole. Here is a diagram showing how technology helps the decision making process:
A primary way organisations use these BI systems is to assist with organisational change. It is utilised to radically alter a company's approach to competing in a market. BI makes the business plan possible and supports a new company model.
BI systems provide a substantial help in data analysis through apps that come in a range of formats. Decision support systems, data mining which is finding important business information in big databases, and multidimensional analysis are some of these uses.
Online analytical processing (OLAP), which is multidimensional analysis, is the process that involved rearranging data that is recorded in a dimensional format, combining data, and drilling down to a higher level of detail.
A dashboard is a great tool which offers quick access to management reports and current information. Using digitalized maps, a geographic information system (GIS) is a computer-based system that gathers, integrates, manipulates, and displays data.
Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, K. (2014). Management Information Systems, 1st Australian Edition. John Wiley & Sons Australia.
Very well put together post. A great summary that anyone could read to learn about BI especially with the added visual aids for the audience.
ReplyDeleteGreat breakdown of business intelligence and decision making.
ReplyDeleteGreat summary!
ReplyDeleteGood and concise information, as well as easy to understand. Good Job.
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