1. Compare decision making and problemsolving. Determine whether it makes sense to distinguish between the two. Decision making can be considered as adeliberation that is figuring out what action need to be taken in order tomaximize the expected benefit. Due to uncertainty there may be no assure thatthe result of the action might be the one meant, and the great one can hope foris to maximise the chance of an ideal outcome.
The process rests on the ideathat an excellent decision is one which outcomes for an excellentdecision-making process that considers all essential elements and is explicitabout decision alternatives, preference and uncertainty (Marek and Roger,2002). Based on D’Zurilla and Chang (1995)”problem solving refers to the rational look for an answer through theapplication of problem solving abilities and techniques which are designed tomaximise the chance of locating the “best” or most adaptive solution for aparticular problem”. Decision making and problem solvingare quite similar activities but the foremost distinction among the two areproblem solving is a technique whilst decision making is a process. Some peopleconsider decision making as the first three steps in problem solving that isproblem definition, problem analysis and generating possible solution. Othersuse the terms interchangeably. Another name of problem solving, is solving aproblem.
This is means a method in which a group or a person makes somethingadvantageous out of problem. Meanwhile, decision making is the process that iscarried out typically for the duration of problem solving. Decision making isthe important thing so that a person can achieve the best conclusion in problemsolving. Problem solving is more an analytical aspects of thinking and also usethe intuition in getting the facts.
Meanwhile, decision making is more of ajudgement where after a person think something then the person will take anaction. However, decision making and problem solving need a certain set ofabilities for every different to be greater powerful. 2. What is DSS, Business Intelligence,Business Analytics, and Predictive Analytics? How these concepts are related toeach other. Basedon Marek and Roger (2002), “decision support systems are interactive,computer-based systems that aid users in judgement and preference activities.
It’s provide the information storage and retrieval however decorate thetraditional facts get entry to and retrieval capabilities for modelconstructing and model-based totally reasoning. Its assist framing, modellingand problem solving. Business Intelligence (BI) is anumbrella term that combines architectures, tools, databases, analytical tools,applications and methodologies. It’s most important goal to enable interactiveaccess (from time to time in real time) to data, enable manipulation of thesedata, and to provide business managers and analysts the capacity to behaviourappropriate evaluation.
An application and strategies forcollecting, storing, analysing and imparting get admission to data to assistusers make higher and strategies decisions and additionally referred to as ananalytical processing, business intelligence tools or business intelligenceapplications, that is business analytics. Predictive analytics is usingstatistical techniques and data mining to decide what’s likely to appear insidethe future. Business use predictive analytics to forecast whether customers areprobable to interchange to a competitor, what customers are likely to shop for,how possibly customers are to respond to an advertising, and whether or notcustomer is creditworthy. Predictive analytics also have used in sports team todiscover the gamers maximum possibly to make contributions to a group’sachievement (Efraim et al.
, 2007). These concepts are related to each other where Business Intelligence (BI) uses a data warehouse,whereas decision support systems can use any data supply consisting of datwarehouse. Most decision support system (DSS) are constructed to supportdecision making at once, while most business intelligence (BI) systems areconstructed to provide data that it is believed will cause progressed decisionmaking.
Business intelligence (BI) has an approach to executive orientationwhile decision support system (DSS) are commonly oriented toward analysts.Business intelligence (BI) systems have a tendency to be evolved withcommercially to be had tools, whereas decision support system (DSS) generallytend to apply more custom programming to cope with issue that can beunstructured. Decision support system (DSS) methodologies and tools originatedin large part in academia, whereas business intelligence (BI) arose largelyfrom the software industry. Many business intelligence (BI) tools, such asinformation mining and predictive analysis, have turn out to be taken intoconsideration, decision support system (DSS) tools are properly. Technically,business analytics provides a further measurement to business intelligence (BI)models and answer methods.
These are often buried so deep within the tools,however, that the analyst need not get his or her hands “dirty.”Typically, the terms are used interchangeably. 3.
Why it is important to focus on theeffectiveness of a decision, not necessarily the efficiency of making adecision? Theeffectiveness of a decision impacts a corporation for as long as the decisionsubjects, and as significantly because the decision scope. The efficiency ofcreating the decision influences most effective the decision-making procedureitself. The different among effectiveness of a decision-making and efficiencyin decision-making enables decision support systems (DSS) analysts understandthe impact of decision support system (DSS) on decision behaviour.
Keen andScott Morton (1978) present the subsequent reasons of these important concepts,”Effectiveness in decision making requires us to deal with the manner offiguring out what have to be carried out at the same time as efficiency indecision making addresses the way performing a given defined task to be able toobtain outputs in addition to feasible, relative to a few overall performancestandards”. The growingefficiency generally takes the form of minimizing time, cost or effort tofinish a decision making activity. Effectiveness specializes in what activitiesmust occur, enhancing the decision method, and improving data used for adecision making, specifically facts and content material used inside thedecision process.
A focal point on effectiveness requires decision-makers toevolve and examine, to make a responsive adjustment to modifications within theenvironment for and within which they make decisions (after Bennett 1983, p.2).”Good” decisions are extra effective decisions and consequently decisionsupport system (DSS) must improve content material utilized by a decision makerand improve the decision process. 4. Yourcompany are about to buy a new machine / software. Using Simon’s four-phasemodel, describes your activities at each step. Intelligence: The company needs a new machine tomake the mission of a new project become successful. Design: We do the survey among employees to know what improvementsare available to us because they may have friends and contacts at othercompanies in our industry.
They may also be able to tell us if parts for a newpiece of equipment we are considering can be easily replaced or repaired. The price is important in deciding what to purchase, but thegreater focus should be on quality and value. We will go to auctions, liquidation sales, garage sales and dosome research the model online to get feedback from customer to find deals. Choice: We are considering to choose newmachine because production can be improved and can be timely completed. Implementation: Thecompany will buy the machine. 5. Explore at least THREE (3) decisionanalysis software vendor / company websites. Identify the purpose of thesoftware / applications that the vendor offers and the organizations that havehad successes with them.
The presence of decision analysis software vendor/web pagesof companies has emerge as a trading lifestyle in contemporary society. Thesebusiness application are used to growth and measure productivity also to carryout different business capabilities appropriately. The vendor’s sophisticationexcites the technology of apps allowed through e-commerce, bringing to sharpmodifications inside the software industry. Business software vendor or abusiness application is any software or set of system software utilized bybusiness users to perform numerous business capabilities specifically inmarketing. For instance the business software selected inclusive of Zalora,Amazon and Apple.Zalora is Asia’s leading online fashiondestination, also the largest and fastest growing fashion focused e-commercesite in Southeast Asia.
Starting early 2012, Zalora operates as The Iconic inAustralia and New Zealand, and under its own brand in Brunei, Hong Kong,Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam.The brand goals to convey excessive avenue fashion to the mass marketplace. Thereare more than 500 top international and local brands and designers that Zaloraoffering for customers shop from thousands of products for men and women. Plus,Zalora offer a thirty-day free return policy, speedy deliveries within 1-3working days, free delivery over a certain spend, and multiple payment methodsincluding cash-on-delivery.
It’s alsoeasy navigation and intuitive operation because the online store is well laidout and easy to use. The customers are guided through the shop step by step tocomplete their purchase quick and easily when searching products in Zalora. Zalora is verysimple and safe shopping because it has a various secure payment options. The currentstatus of the order and tracking number can be follow up by customers untildelivery. On Zalora, customers will find big brands such as Nike, AmericaApparel, New Look, River Island and many more. Amazon wasn’t the first onlineorganization, however it’s far one of the most innovative. Amazon’s achievementbegan with one merger product category this is books. But it didn’t stay thatway.
Jeff Bezos had the concept that Amazon would grow to be “the everythingstore”, and it did. The creation of the Kindle didn’t beat other e-readers tomarket, however Amazon’s became the most popular. Business insider reviewsnumerous new innovative products and services coming from the organization. Oneservice is known as Amazon Locker that could be a secure service for brand NewYorkers, Londoners and Seattleite. Starting up as an online bookstore, Amazonnow gives the whole thing from soup to nuts. The organization now carriesproducts in music, books, electronics, health and beauty, automotive, groceryand clothing. Amazon achievement factors are closely tied to Jeff Bezos in hisinnovation and preference to preserve moving forward has pushed the companyfurther than early critics believed feasible. Regardless of the way you have alook at it, Amazon has grown up from a touch online bookstore to an industry giant.
We can say Amazon created industry for overall domination. Apple’s current missionannouncement is “Apple designs Macs, the best private computer systems in the global,together with OS X, iLife, iWork and professional software program. Apple leadsthe digital tune revolution with its iPods and iTunes online store. Apple hasreinvented the mobile phone with its innovative iPhone and App store, and isdefining the destiny of mobile media and computing devices with iPad”.
Apple isthe most a success organizations are capable of create new networks via aprogressive imaginative and prescient that executes a commercial enterpriseapproach that fits with the prevailing philosophy of lifestyles. Apple gets uscommunicating with buddies via social networks, listening to music, making andediting images, playing video games and “looking cool” in an unmarried visionof what a successful 21st century individual aspires to. The latestadditions in Apple services are the iCloud storage service and Apple Watch,which could communicate data of one’s body and health status to differentgadgets. On 2014, in a deal that might deepen Apple’s income to organizationand make stronger IBM’s position in business software, the two organizationsannounced a wide-ranging partnership intended to spread advanced mobile andinformation evaluation generation within the corporate global.
IBM and Applehave been operating collectively on the project for numerous months, and theyare collectively running on greater than 100 business software programs to developedcompletely for Apple’s IOS running machine and for use on iPhones and iPads. Theprograms might be tailor-made to be used in industries together with retail,health care, transportation, banking, insurance, and telecommunications. The organizationsplanned to combine information analysis, cloud and mobile technology with Apple’ssmartphones and tablets, turning the gadgets into decision making tools insteadof ones used especially for e-mail, text-messaging and contacts. The long-timeperiod aim is to apply the era to “reimagine how work is done” and to “unlockvalue, remake professions and transform companies”.
The applications, willbring “big data analytics down to the fingertips” of Apple iPhone and iPadcustomers in organizations.