Supporting Decision Making

Supporting Decision Making

Introduction

With rapid advances in technology, decisions-making information systems have become an integral part of the overall structure of business units. Newer and more innovative data-driven decision support application frameworks assist managers in responding more promptly to the ever-changing market conditions and evolving consumer tastes and preferences. These sophisticated software applications can be used to execute a myriad of operations related to strategic, tactical and operational management. For example, they can be used for the development of new expert systems, establishment of neural networks, implementation of fuzzy logic systems, calculation of genetic algorithms, simulation of virtual reality, and as intelligent decision-making agents. Given the diverse nature of work that they are able to carry out, and the tremendous efficiency that they bring to management, an increasing number of businesses around the world have readily embraced business support information systems.

Discussion

Among computer based information systems one is a decision support system, which helps in business or firms in decision making process. Decision support system is the system which provide support to the management, operations, and planning levels of any firm and it also helps in decision making at all levels. Decisions those are difficult to take are usually become more convenient to take by using decision support systems. Decision support system can be either completely computerized or a human based system and can also is the combination of both.

Decision support system may consist of knowledge based system. A properly designed and developed decision support system can be very helpful for the organizations and interactive software based system. This system is mostly designed to help decision makers within an organization. This software helps in compiling data and information about the raw materials, documents, suppliers and even customers. This computer based system is designed in a way those models for the business. And it helps in problem solving and decision making. In this regard, two highly important features of decision-making information support systems are Fuzzy Logic and Virtual Reality.

Fuzzy Logic

The remarkable thing about fuzzy logic systems is that they are able to process ambiguous or incomplete data. As a result, businesses are able to use these systems for the resolution of semi-structured problems that contain incomplete knowledge. The fuzzy logic system does this by establishing approximate inferences just in the manner that humans would do.

Virtual Reality

Extensive research in the field of human psychology, biology, mathematics and neurology has allowed scientists to develop the Artificial intelligence. The focus of the technology is on cognitive sciences, i.e. how humans think and behave. Consequently, numerous real-time decision-making software applications have been invented that facilitate managers in making strategic decisions related to critical problems. The most common applications of virtual reality are decision support, information retrieval, virtual reality, and robotics.

The Management of Decision-Making

Recent theory concerned with group problem-solving suggests that different types of decision making require different group structures and processes. The administrator who "manages" the decision-making process must, therefore, organize the executive team in different ways as he deals with the variety of decision-making ...