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Chapter 3-Strategic Decision Making
Terms in this set (32)
encompasses all info contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks.
encompasses all organizational info, and its primary purpose is to support the performing of managerial analysis tasks.
OLTP Online transaction processing
is the capturing of transaction and event information using technology to 1. process the info according to defined business rules 2. store info 3. update exisitng info to reflect the new info
TPS Transaction processing system
is the basic business system that serves the operational level (analysts) in an organization.
OLAP Online analytical processing
is the manipulation of information to create business intelligence in support of strategic decision making.
is a broad, general term describing info that people use to support their decision making efforts
DSS Decision Support System
models info to support managers and business professionals during the decision making process.
3 Quantitative Models used by DSS
1. Sensitivity Analysis 2. What-if Analysis 3. Goal-seeking analysis
the study of the impact that changes in one (or more) parts of the model have on other parts of the model
checks the impact of a change in an assumption on the proposed solution
finds the inputs necessary to achieve a goal such as a desired level of output
EIS Executive information system
is a specialized DSS that supporst senior level execs within the organization
Capabilities in most EIS
1. Consolidation 2. Drill-Down 3. Slice-and-dice
involves the aggregation of info and features simple roll-ups to complex groupings of interrelated info
enables users to view details, and details of details, of info.
the ability to look at info from different perspectives
integrate info from multiple components and tilor the info to individual preferences
simulates human intelligence such as the ability to reason and learn
4 categories of AI
1. Expert Systems 2. Neural Networks 3. Genetic Algorithms 4. Intelligent Agent
computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems
attempts to emulate the way the human brain works. (fuzzy logic)
mimics the evolutionary, survival of the fittest process to generate increasingly better solutions to a problem.
special purpose knowledge based info system that accomplishes specific tasks on behalf of its users
sift through info to uncover patterns and relationships that would elude an army of human researchers.
SCM Supply Chain MGMT
involves the mgmt of info flows btwn and among stages in a supply chain to maximize total supply chain effectiveness and profitability.
Supply chain strategy
managing all the resources required to meet customer demand for all products and services
Supply chain partners
partners chosen to deliver finished products, raw materials, and services including princing, delivery, and payment processes along with partner relationship monitoring metrics
Supply chain operation
schedule for production activities including test, packaging and preparation for delivery
Supply chain logistics
product delivery processes and elements including orders, warehouses, carriers, defective product returns and invoicing
CRM Customer Relationship MGMT
involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
BPR Business Process Reengineering
is the analysis and redesign of workflow within and between enterprises.
ERP Enterprise Resource Planning
integrates all departments and functions throughout and organization into a single IT system so that employees can make decisions by viewing enterprisewide info on all business operations.
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