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Level 46

Information & Decision Support Systems


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Decision-making phase
first part of problem solving, including three stages: intelligence, design, and choice.
Intelligence stage
identify and define potential problems or opportunities (first stage of decision making phase)
Design stage
develop alternative solutions to the problem and evaluate their feasibility (second stage)
Choice stage
selecting a course of action (third stage)
Problem solving
process that goes beyond decision making to include the implementation stage
Implementation stage
stage of problem solving in which a solution is put into effect
Monitoring stage
final stage of problem-solving process in which decision makers evaluate the implementation
Programmed decision
a decision made using a rule, procedure, or quantitative method
Nonprogrammed decision
a decision that deals with unusual or exceptional situations
Optimization model
a process to find the best solution, usually the one that will best help the organization meet its goals
Satisficing model
a model that will find a good - but not necessarily the best- solution to a problem
Heuristics
commonly accepted guidelines or procedures that usually find a good solution
Scheduled report
a report produced periodically (eg. daily, weekly, or monthly)
Key-indicator report
a summary of the previous day's critical activities, typically available at the beginning of each workday
Demand report
a report developed to give a certain information at someone's request rather than on schedule
Exception report
a report automatically produced when a situation is unusual or requires management action
Drill-down report
a report providing increasingly detailed data about a situation
Financial MIS
an information system that provides financial information for executives and for a broader set of people who need to make better decisions on a daily basis
Profit center
a department within an organization that focuses on generating profits
Revenue center
a division within a company that generates sales or revenues
Cost center
a division within a company that does not directly generate revenue
Auditing
analyzing the financial condition of an organization and determining whether financial statements and reports produced by the financial MIS are accurate
Internal auditing
auditing performed by individuals within the organization
External auditing
auditing performed by an outside group
Economic order quantity (EOQ)
optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines
Reorder Point (ROP)
a critical inventory quantity level
Material Requirements Planning (MRP)
a set of inventory-control techniques that help coordinate thousands of inventory items when the demand of one item is dependent on the demand for another
Just-in-time (JIT) Inventory
an inventory management approach in which inventory and materials are delivered just before they are used in manufacturing a product
Computer-assisted manufacturing (CAM)
a system that directly controls manufacturing equipment
Computer-integrated Manufacturing (CIM)
using computers to link the components of the production process into an effective system
Flexible Manufacturing System (FMS)
an approach that allows manufacturing facilities to rapidly and efficiently change from making one product to making another
Quality Control
a process that ensures that the product meets the customers' needs
Marketing MIS
an information system that supports managerial activities in product development, distribution, pricing decisions, promotional effectiveness, and sales forecasting
Human Resource MIS (HRMIS)
an IS that is concerned with activities related to previous, current, and potential employees of an organization, also called a personnel MIS
Accounting MIS
an IS that provides aggregate information on accounts payable, accounts receivable, payroll, and many other applications
Geographic Information System (GIS)
a computer system capable of assembling, storing, manipulating, and displaying geographic information - data identified according to its location
Ad Hoc Decision Support System (DSS)
a DSS concerned with situations or decisions that come up only a few times during the life of the organization
Institutional DSS
a DSS that handles situations or decisions that occur more than once, usually several times per year or more. An institutional DSS is used repeatedly and redefined over the years
Highly Structured Problems
problems that are straightforward and require known facts and relationships
Semistructured or Unstructured Problems
more complex problems in which the relationships among the pieces of data are not always clear, the data might be in a variety of formats, and the data is often difficult to manipulate or obtain
Dialogue Manager
a user interface that allows decision makers to easily access and manipulate the DSS and to use common business terms and phrases
Model Base
Part of a DSS that allows managers and decision makers to perform quantitative analysis on both internal and external data
Model Management Software (MMS)
software that coordinates the use of models in a DSS, including financial, statistical analysis, graphical, and project management models
Group Support System (GSS)
software application that consists of most of the elements in a DSS, plus software to provide effective support in group decision-making settings
Delphi Approach
a decision-making approach in which group decision makers are geographically
Brainstorming
a decision-making approach that consists of members offering ideas "off the top of their heads" fostering creativity and free thinking
Group Consensus Approach
a decision-making approach that forces members in the group to reach a unanimous decision
Nominal Group Technique
a decision-making approach that encourages feedback from individual group members; with the final decision being made by voting, similar to a system for electing public officials
Decision Room
a room that supports decision making, with the decision markers in the same building, and that combines face-to-face verbal interaction with technology to make the meeting more effective and efficient
Virtual Workgroups
Teams of people located around the world working on common problems
Executive Support System (ESS)
Specialized DSS that includes all hardware, software, data, procedures, and people used to assist senior-level executives within the organization
Strategic Planning
determining long-term objectives by analyzing the strengths and weaknesses of the organization, predicting future trends, and projecting the development of new product lines