Saturday, February 8, 2020

Management Decision Support System (DSS) Essay Example | Topics and Well Written Essays - 4250 words

Management Decision Support System (DSS) - Essay Example s this system uses internal sources of information but it also use external sources of information that are vital to the organization for instance reports regarding current stock prices and reports which give competitors information. The fundamental difference between Decision Support System and other information systems is that Decision Support System has more analytical capabilities. It has multiple models to analyze and synchronize large amounts of data. This action of Decision Support System allows decision makers to view the data in a form which allows data to be easily analyzed. This has far reaching consequences because the decision that comes out is more justified and rigorously tested (Sauter, 159). Decision Support System employs interactive and user-friendly software. This software allows the user the luxury to ask multiple questions, modify key assumptions and add new data set into the scenario. Some Decision Support Systems are heavily model drive whereas other Decision Support Systems are model-driven and are focused more on extracting vital information from heaps of data to enable mangers to take effective decisions. It is this very reason why Decision Support Systems are also known as business intelligence systems because these systems focus on helping users to make better business decisions (Laudon and Laudon, 490-505). Since high quality decision making has become imperative for the survival of an organization therefore organizations these days are investing heavily on Decision support systems, more renowned as business intelligence systems. These systems consist of technologies and applications which enable better decision making. Business intelligence systems provide firms with the capabilities to collect large amount of information and using this generated information to develop new knowledge about operations and bring changes in the decision making behavior of people so that they achieve success in achieving profitability target and

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