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Enhancing Decision Making (Business analytics (Operational intelligence…
Enhancing Decision Making
Types of Decisions
Unstructured (Decision maker must help)
Senior managers
ESS - Balanced scorecard method:
Structured (Repetitive and routine, already defined)
Operational managers, rank and file employees
MIS - Routine production reports
Semistructured (Both)
Middle managers
DSS Support for semistructured decisions
Stages Decision-making Process
Implementation
Making solution work and continuing to monitor
Choice
Choosing solution alternatives
Design
Identifying and exploring solutions
Intelligence
Discovering, identifying, and understanding problems
Models of Management
Classical Model
Deciding
Controlling
Coordinating
Organizing
Planning
Contemporary Behavioral Models
Less systematic
Less reflective
More informal
More reactive
Less well organized
Mintzberg’s 10 Managerial Roles
Informational roles
Decisional roles
Interpersonal roles
Problems
Management filters
Organizational inertia and politics
Information quality
High-velocity Automated Decision Making
Humans taken out of decision
Require safeguards to ensure proper operation and regulation
Computer algorithms precisely defining steps for a highly structured decision
Business intelligence
Infrastructure for collecting, storing, analyzing data produced by business
Ambiente
User interface
Delivery platform—MIS, DSS, ESS
Managerial users and methods
Business analytics toolset
Business intelligence infrastructure
Data from the business environment
Funcionalidades
Production reports
Common predefined, prepackaged reports
Parameterized reports
Dashboards/scorecards
Ad hoc query/search/report creation
Drill down
Forecasts, scenarios, models
Deliver accurate real-time information to decision makers
Business analytics
Tools and techniques for analyzing data
OLAP, statistics, models, data mining
Big data
Massive datasets collected from social media, online and in-store customer data, and so on
Smart cities
Operational intelligence and analytics
Collection and use of data generated by sensors
Internet of Things
Creating huge streams of data from Web activities, sensors, and other monitoring devices
Software for operational intelligence and analytics enable companies to analyze their Big Data
Location analytics
Ability to gain business insight from the location (geographic) component of data
Geographic information systems (GIS)
Ties location-related data to maps