ADMS 2511 Lecture Notes - Lecture 10: Adelaide Brighton Cement, Data Mart, Kelley Blue Book

• School: York University
• Department: Administrative Studies
• Course: ADMS 2511
• Professor: Carl Lapp

Document Summary

Ratio is an indication of the organizations productivity. Decision making is a systematic process: economist herbert simon (1977) described decision making as composed of three major phases, intelligence first stage. Why managers need it support: decision making is very difficult without solid information. What information technologies are available to support managers: discovery, communication and collaboration tools > referred to as business intelligence, expert systems and neural networks are other it tools to support decision making. A framework for computerized decision analysis: various types of decision can be placed along two major dimensions; problem structure and the nature of the decision. Combination of standard solution procedures and individual judgement: examples: performing capitalist acquisition analysis, trading bonds, evaluating employees, setting marketing budgets for consumer products, etc. The nature of decisions: the second dimension of decision support deals with the nature of decisions.