MIS Chapter 12: Enhancing Decision Making

_____ measures outcomes on four dimensions: -Financial -Business Process -Customer -Learning and Growth KPIs measure each one

Balanced Scorecard method

the huge and complex data sets collected from social media, online & in-store customer data, etc. - help create real-time, personalized shopping experiences for major online retailers - smart cities * public records * sensors, location data from smartphones * ability to evaluate effect of one service change on the system

Big Data

_______ are tools & techniques for analyzing data. Examples are OLAP, stats, models, & data mining

Business Analytics

_________ is infrastructure for collecting, storing, and analyzing data provided by the business. Examples include databases, data warehouses, and data marts.

Business Intelligence

________ create business intelligence and analytics purchased by firms.

Business Intelligence Vendors

This type of management translates a firm's strategies (e.g., differentiation, low-cost producer, scope of operation) into operational targets. - KPIs are developed to measure progress toward targets

Business Performance Mgt. (BPM)

Entrepreneur, disturbance handler, resource allocator, & negotiator are examples of _________ roles.

Decisional

-this system serves as decision support for senior mgt -it helps executives focus on important performance info.

ESS

True/False: Middle managers make more structured decisions but these may include SEMISTRUCTURED components.

False: Middle managers do make more structured decisions, but these may include UNSTRUCTURED components.

________ ties location-related data to maps.

Geographic Info. Systems (GIS)

______ are interactive computer-based systems that facilitate the solution of unstructured problems by a set of decision makers working together as a group in the same location or in different locations - promotes collaborative atmosphere, anonymity - provide specialized tools such as: * virtual collaboration tools * software to collect, rank, edit participant ideas & responses

Group Decision-Support Systems (GDSS)

In the decision-making process, _______ is making the chosen alternative work and continuing to monitor how well the solution is working.

Implementation

In the decision-making process,_______ involves discovering, identifying, and understanding the problems occurring in the organization.

Intelligence

______ involves creating huge streams of data from web activities, sensors, and other monitoring devices

Internet of Things

What are the three types of managerial roles according to Mintzberg?

Interpersonal, Informational, & Decisional roles

In the decision-making process, what is design?

It is identifying and exploring solutions to the problem.

_______ is the ability to gain business insights from the location/ geographic component of data, including location data from mobile phones, sensors, and maps.

Location Analytics

greater flexibility and independence; potential difficulties in integration - Must deal with multiple vendors

Multiple best-of-breed solution

Hardware firms sell software that run optimally on their hardware *Makes firm dependent on single vendor—switching costs

One-stop integrated solution

Business Activity Monitoring; the collection and use of data generated by sensors - this software enable companies to analyze their big data

Operational Intelligence (OI)

What kinds of employees make more structured decisions?

Operational Managers and Rank & File Employees

* uses a variety of data. techniques to predict future trends and behavior patterns * incorporated into numerous BI applications for sales, finance, marketing, fraud detection, & health care Examples include: - statistical analysis - data mining - historical data - assumptions

Predictive Analytics

______ decisions- the only part of the problem has a clear-cut answer provided by an accepted procedure

Semistructured

In high-velocity automated decision making is made possible because:

Through computer algorithms precisely defining steps for a highly structured decision. Humans are taken out of the decision

True/False: In the decision-making process, choice is choosing among solution alternatives.

True

True/False: Interpersonal Roles consist of figurehead(s), leader(s), and liaison.

True

True/False: Senior Managers make many unstructured decisions.

True

________ decisions are when the decision maker must provide judgement, evaluation, and insight to solve a problem.

Unstructured

What are three types of decisions?

Unstructured, Structured, & Semistructured

What of the following are NOT one of the six elements in the Business Intelligence Environment? a. data from the business environment b. making production reports c. managerial uses and methods d. user interface: data visualization tools e. business analytics toolset

b. making production reports. The last two elements are: - business intelligence infrastructure - delivery platform: MIS, DSS, ESS

Which of the following is NOT one of the three INFORMATIONAL roles? a. nerve center b. spokesperson c. leader d. disseminator

c. leader

Investments in IT do NOT always produce positive results because: a. Info. quality: high-quality decisions require high-quality information. b. MGT filters: managers have selective attention and have a variety of biases that reject information that does NOT conform to prior conceptions. c. Organizational Inertia & Politics: strong forces within organizations resist making decisions calling for major change. d. All of the above are reasons

d. All of the above are reasons

What of the following are NOT one of the main analytic functionalities of BI systems? a. production reports b. dashboards/scorecards c. drill down d. business intelligence infrustructure e. ad hoc query/search/report creation

d. business intelligence infrastructure. The other two functions of BI systems are: - parameterized reports - forecasts, scenarios, models

support for Semistructured decisions - uses mathematical/ analytical models - allows varied types of analysis: * "what-if" analysis * sensitivity analysis * backward sensitivity analysis * multidimensional analysis / OLAP

decision support systems (DSS)

The goal of business intelligence & analytics capabilities is to _______

deliver accurate real-time info to decision makers

In the classical model of management, which of the following is NOT one of the five functions? a. Planning b. Organizing c. Coordinating d. Deciding e. Controlling f. All of them are functions

f. All of them are functions.

Actual behavior of managers appears to be______ than in the classical model. a. less systematic b. more informal c. less reflective d. more reactive e. less well organized f. all of the above

f. all of the above

These types of decisions are repetitive and routine, and they involve a definite procedure for handling them so that they do not have to be treated each time as if they were new

structured decisions