Week 8
Business Intelligence
Business intelligence is technology designed to help make a business run smoother, and business intelligence varies from Microsoft Excel, to predictive analytics software designed specifically for a single industry.
Data analysis is a very useful part business technology, and allows businesses to view their products that are selling more, and seeing what products they could introduce to help fulfill the customer's needs.
Sensitivity analysis allows a business to look at projected results if simply one thing changes, and what-if analysis allows a business to see what happens if they add something to their business.
Decision-Making
Decisions can either be structured or unstructured, with structured decisions being used for common problems, while unstructured decision making being used for complex and rare problems.
Decision support framework can be very helpful for people involved in the decision-making process, and can be used for operational control, management, strategy, and IS support. It identifies structured, semi-structured, and unstructured decisions, and allows a policy to be implemented for all types of decisions.
Gray,H.,Issa,T.,Pye,G., Troshani,I.,Rainer,K.(2014). Management Information Systems
Your paragraph on data analysis and sensitivity analysis was very good in describing how BI technology assists businesses become more efficient. Nice job!
ReplyDeleteA very easy to read post, your points are concise and well structured, especially in the decision making section where your tone is direct and straight to the point
ReplyDeleteVery straight to the point summary. While the overview was brief, it provided me with valuable insight into the components of week 8's lesson (Business Intelligence and Decision-making); keep up the good job.
ReplyDeleteA concise summary of the key points of the weeks lesson. I like how you explained the differences between structured and unstructured decision making.
ReplyDeleteWell constructed blog post! I liked how you described business intelligence.
ReplyDeletenice and simple and presented summary of the key info of this weeks information. thanks!
ReplyDelete