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O’Brien Chapter10 Decision Support in Business BEA2005 Lecture 9 9th December 2010 Identify the changes taking place in the form and use of decision support in business Identify the role and reporting alternatives of management information systems Describe how online analytical processing can meet key information needs of managers Explain the decision support system concept and how it differs from traditional management information systems Learning Objectives 10-* BEA2005 Dec 2010 L9 Learning Objectives Explain how the following information systems can support the information needs of executives, managers, and business professionals Executive information systems Enterprise information portals Knowledge management systems Identify how neural networks, fuzzy logic, genetic algorithms, virtual reality, and intelligent agents can be used in business 10-* BEA2005 Dec 2010 L9 Learning Objectives Give examples of several ways expert systems can be used in business decision-making situations 10-* BEA2005 Dec 2010 L9 Decision Support in Business Companies are investing in data-driven decision support application frameworks to help them respond to Changing market conditions Customer needs This is accomplished by several types of Management information Decision support Other information systems 10-* BEA2005 Dec 2010 L9 Levels of Managerial Decision Making 10-* BEA2005 Dec 2010 L9 Information Quality Information products made more valuable by their attributes, characteristics, or qualities Information that is outdated, inaccurate, or hard to understand has much less value Information has three dimensions Time Content Form 10-* BEA2005 Dec 2010 L9 Attributes of Information Quality 10-* BEA2005 Dec 2010 L9 Decision Structure Structured (operational) The procedures to follow when decision is needed can be specified in advance Unstructured (strategic) It is not possible to specify in advance most of the decision procedures to follow Semi-structured (tactical) Decision pr