Which decisions arise in situations where established processes offer potential solutions?

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Which decisions arise in situations where established processes offer potential solutions quizlet?
What are decisions that occur in situations in which no procedures or rules exist to guide decision makers toward the correct choice?
What refers to the level of detail in the model or the decision
What is the typical time frame for decisions at the strategic level?

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Chapter 9

Question	Answer
online analytical processing (OLAP)	The manipulation of information to create business intelligence in support of strategic decision making.
Operational Level	employees develop, control, and maintain core business actives required to run the day to day operations.
Structured Decisions	which arise in situations where established processes offer potential solutions. Structured decisions are made frequently and are almost repetitive in nature. and are operational decisions.
Six steps of decision process	Problem Identification Data Collection Solution Generation Solution Test Solution Selection Solution Implementation
Neural Network	category of AI that attempts to emulate the way the human brain works.
Analytics	science of fact-based decision making
managerial level	employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to and leverage change.
semi structured decisions	they occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision.
Strategic Level	managers develop overall business strategies, goals. and objectives as part of the company's strategic plan.
unstructured decisions	occurring in situations in which no procedures or rules exist to guide decision markers toward the correct choice. They are infrequent, extremely important, and typically related to long-term business strategy.
model	simplified representation or abstraction of reality. Models help managers calculate risks, understand uncertainty, change variables, and manipulate time to make decisions.
Source documents	original transaction record. Inputs for TPS
Online transaction processing (OLTP)	capture of transaction and event information using technology to process, store or update existing information.
Transaction Processing System (TPS)*	basic business system that serves the operational level (analysts) and assists in making structured decisions.
Decision Support System	model information using OLAP, which provides assistance in evaluating and choosing among different courses of action. DSSs enable high level managers to examine and manipulate large amounts of details.
Sensitivity Analysis	a special case of what if analysis, is the study of the impact on other variables when one variable is changed repeatedly.
Optimization analysis	extension of goal-seeking analysis finds optimum value for a target variable by repeatedly changing other variables, subject to special constraints
Granularity	refers to the level of detail in the model or the decision-making process. The greater the granularity the deeper the level of detail of data.
Slice and dice	The ability to look at information from different perspectives. Could display all product sales during a given promotion.
Expert Systems	Are Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems. Typically, they include a knowledge base to each particular situation. Are the most Common form of AI in business arena.
Drill Down	enables users to view details, and details of details of information. Reverse of consolidation can view regional or all the way down to individual salesman
Mutation	process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure) of the outcome.
Augmented reality **	is viewing of physical world with computer- generated layers of information added to it.
Fuzzy Logic	Mathematical method of handling imprecise or subjective information.
Goal- seeking analysis	finds the inputs necessary to achieve a goal such as a desired level of output. It is the reverse of what if and sensitivity analysis.
What if Analysis	Checks the impact of a change in a variable or assumption on the model?
Input	Transaction processing system
Process	What-if sensitivity, goal seeking, optimization
Output	Forecasts, simulations, ad hoc reports.
Executive Information system ( EIS)	Specialized DSS that supports senior-level executives and unstructured, long-term non-routine decisions requiring judgment evaluation, and insight
Visualization	Produces graphical displays of patterns and complex relationships in large amounts of data.
Consolidation	aggregation of data from simple roll-ups (next level up) to complex groupings of interrelated information.
Steps in Decision-making process	Problem identification Data collection Solution generation Solution Test Solution selection Solution implementation
Three Primary types of MIS decision-making systems	Transaction Processing System Decision Support System Executive Information Systems
Genetic Algorithm	Artificial intelligence system that mimics the evolutionary, survival-of the fittest process to generate increasingly better solutions to a problem.
Expert Systems	Playing Chess
Neural Network	example Credit card companies checking for fraud. Lending themselves to massive parallel processing Learning and adjusting to new circumstances on their own.
Genetic -Algorithm	Investment companies in trading decisions
Intelligent Agents	Environmental scanning and competitive intelligence
Virtual Reality	Working virtually around the globe.
Digital dashboard	What tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs.
Analytical information	encompasses all organizational information, and its primary purpose is to support the performance of managerial analysis or semi structured decisions.
Transactional Information	Contains all the information contained within a single business process or unit of work, and its primary purpose is to support the performance of daily operation or structured decisions.
Strategic Level	managers develop overall business strategies, goals and objectives as part of the company's strategic plan.
Common DSS ( Decision support systems) analysis techniques	What if analysis Sensitivity Analysis Goal-Seeking analysis Optimization analysis
Three levels of management	Operational - lowest Managerial Middle Strategic highest
Managerial level	Semi structured Short term, Daily monthly, yearly time frames middle managerment and director employee types
Operational level	lowest
Augmented Reality	Viewing of the physical world with computer-generated layers of information added to it.
What does fuzzy logic assign as values to vague or ambiguous information?	0 and 1
Digital Dashboard	List of outstanding alerts Graph of Stock Market prices List of KPIs

Which decisions arise in situations where established processes offer potential solutions quizlet?

Structured decisions. operational decisions, arise in situations where established processes offer potential solutions..

Semistructured decisions. ... .

Unstructured decisions. ... .

Project. ... .

Metrics. ... .

Critical success factors (CSF) ... .

Key performance indicators (KPI) ... .

Market share..

What are decisions that occur in situations in which no procedures or rules exist to guide decision makers toward the correct choice?

Unstructured decisions occur in situations in which no procedures or rules exist to guide decision makers towards the correct choice.

What refers to the level of detail in the model or the decision

Granularity refers to the level of detail in the model or the decision-making process.

What is the typical time frame for decisions at the strategic level?

Typically strategic choices look at 3 to 5 years, although some extend their vision to 20 years (long term).

Which decisions arise in situations where established processes offer potential solutions?

Chapter 9

Which decisions arise in situations where established processes offer potential solutions quizlet?

What are decisions that occur in situations in which no procedures or rules exist to guide decision makers toward the correct choice?

What refers to the level of detail in the model or the decision

What is the typical time frame for decisions at the strategic level?

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