Term
| What is a Decision Support System? |
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Definition
| - Does not actively collect data from inputs, it is more software based |
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Term
| Examples of decision support systems |
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Definition
| Auckland Transport App (helps make decision on which bus route is the best option. |
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Term
| What is decision making based on? |
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Definition
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Term
| What is the problem with data these days? |
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Definition
There is TOO MUCH DATA
- Because it is so easy to capture, store, and share data (e.g. digital images, emails, broadband connections) these days we tend to receive an overwhelming amount of data and very rarely access useful information
- Makes it hard to chose the useful information |
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Term
| Decision Making Process Diagram and explanation |
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Definition
[image]
CONSIDERATION: Input -> Models -> Insight, Supported by DSS to see different options
DECISION: Made the decision
ACTION: Actually doing it
OUTCOME: So next time you consider this problem you can take this into account to improve
Cycle is a continuous process |
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Term
| Agile Decision Making Diagram |
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Definition
[image]
- Must constantly compete with to make process shorter
- Time hewer you receive information before taking action is very important
- Can be fully shortened with good Infosystems |
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Term
| What is Analysis Latency? |
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Definition
| Delay from analysis, time it takes to receive information |
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Term
| How to shorten the Agile Decision Making |
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Definition
Can be fully shortened with good Infosystems:
- With good TPS, can capture data faster
- With good DSS can shorten between having data and analysing info
- With good communication, can shorten the decision latency |
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Term
| What is Decision Latency? |
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Definition
| Time from receiving information an making action |
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Term
| What is Intelligence Density (ID) used for? |
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Definition
Is used to characterise the intelligence provided by a decision-support tool; for the whole pack of information you get, how much of to os valuable?
“Amount of useful ‘decision support intelligence’ that a decision maker gets from using a system for a certain amount of information”
“How quickly can you get the essence of the underlying data from the input?”
If system can give you a high ID, it is good information |
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Term
| Intelligence Density (ID) equation |
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Definition
| ID = (Usefulness of decision making gleaned) / (Units of analytic time spent by the decision maker) |
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Term
| Qualitative Decision Model |
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Definition
| Faced with a problem => Feed it to mind => Generate Insight |
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Term
| Quantitive Decision Model |
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Definition
[image]
- A model is a simplified abstraction of reality.
- Decision models are central to decision making and support.
- Perform analysis on a model of reality than on the real system. |
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Term
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Definition
- Auckland Transport App
- Google Analytics |
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Term
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Definition
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Term
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Definition
- Sensitivity Analysis
- What-if Analysis
- Goal-Seeking Analysis |
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Term
| DSS Applications - Sensitivity Analysis |
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Definition
| A study of the impact that changes in one (or more) parts of a model may have on other parts. |
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Term
| DSS Applications - What-if analysis |
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Definition
| A study of changes in assumptions (input data) about a proposed solution and the possible impact of those changes. e.g. What if I spent $1000 more than budget? How will this effect sales? |
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Term
| DSS Applications - Goal-seeking analysis |
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Definition
| A study to find the input values necessary to achieve a desired level of output (backward solution). e.g. Want to reach $50 000 in sales, create advertising expensive budget |
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