GMS 200 Lecture Notes - Lecture 2: Business Intelligence, Information System, Bounded Rationality

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Lecture 2 information and decision making (chapter 13) Career and personal success requires 3 competencies: technological: ability to understand new tech and use to their advantages. Information: ability to locate, gather, organize and display info: analytical: ability to evaluate and analyze info to make decisions + solve problems. Information is data made useful, meaningful for decision-making. Info is interpreting data to make conclusions. (looking at table of values). Timely available when needed (meets deadlines) High quality the info is accurate and reliable. Complete i(cid:374)fo is (cid:862)(cid:862)a(cid:374)d suffi(cid:272)ie(cid:374)t for task at ha(cid:374)d. free fro(cid:373) irrelevant info. Info. technology (it) helps us acquire, store, and process info. Business intelligence is process of mining info. s(cid:455)ste(cid:373)s to e(cid:454)tra(cid:272)t data that"s useful for decision-making: use of executive dashboards that displays charts, graphs, etc, sorts/reports data to allow dec. makers to detect, digest, and deal with implications. Management information systems us i. t to collect, organize, and distribute data for decision making.