rule-based system that provides a solution in one functional area (of, say, finance, marketing, manufacturing, etc.) to a repetitive managerial problem, usually in one industry. Some examples are provide a credit score, accept/deny a loan application, determine price of a store item, recommend item to purchase.
In contrast with Management Science approaches-Model-based Solution-to generate structure problems (resource allocation; Inventory level determination)
Rule-Based sys: based on experience or derived through data mining, can be combined with mathematical models to from solutions that can be automatically and instantly applied to problems
1) Referred to Corporate performance management (CPM), is an emerging portifolio of applications and methodology that contains evolving BI architecture and tolls in its core.
2) Extends the monitoring, measuring and comparing of sales, profit, cost, profitability, and other performance indicators by introducing the concept of MGT and feedback.
3) Embrace processes such as planning and forecasting as core tenets of a business strategy.
4) Top-down enforcement of corporate-wide strategy. In contrast with DSS,EIS and BI -bottom up extraction of data info.
5) Uses balanced scorecard (BSC)
6) Methodology to link objectives with factual measures. In the process, an
7) Enterprise must define, implement, and manage their business strategies.
8) Objective is to optimize the overall performance of an Organization.
Louisiana Crash Data, retail transaction data, bank transactions data.
Suppose you purchase a two pairs of shoes, a purse and a wallet. The salesperson will scan the bar code of the items and sales data (item codes, item descriptions, quantity purchased, sales tax, total amount of purchase, ID of salesperson, store location, etc.) are transmitted to a database where sales data and inventory are updated. Suppose also that you swipe your debit card to pay for the purchase. Transactions are saved in a database.