MIS Chapter 4

Artificial intelligence systems that businesses use most can be classified into 4 major categories

1. Expert Systems 2. Neural Networks (and fuzzy logic) 3. Genetic Algorithms 4. Agent-based Technologies

Endless Analytics

1. Web Analytics 2. HR Analytics 3. Marketing Analytics 4. CRM Analytics 5. Social Media Analytics 6. Mobile Analytics

What are the 4 phases of decision making according to Herbert Simon?

According to Herbert Simon the 4 phases of decision making are: 1. Intelligence 2. Design 3. Choice 4. Implementation

Is the decision making process linear?

No. The 4 phases of the decision making process is not necessarily linear

Analytics is most useful for decisions that have __________ elements.

Nonstructured elements. Analytics is most useful for decisions that have nonstructured elements

Query and reporting Tools

SQL and report generators in the typical database environment

What is a second model for decision making created by Simon?

Satisficing. Satisficing is a second model created by Herbert Simon for decision making

What are the 3 components of a decision support system?

The 3 components of a decision support system are: 1. User interface management componenet 2. Data management component 3. Model management component

What are the 5 main types of agent based technologies

The 5 main types of agent based technologies are 1. Autonomous Agent 2. Distributed Agent 3. Mobile Agent 4. Intelligent Agent 5. Multi-agent System

Agent Based Technology

a agent-based technology is a small piece of a software that acts on your behalf performing tasks assigned to it

Data-mining Agent

a data mining agent operates in a data warehouse discovering information. It may detect a major shift in a trend or a key indicator

Decision Support System

a decision support system is a highly flexible and interactive IT system that is designed to support decision making when the situation includes nonstructured decisions

Genetic Algorithms

a genetic algorithm is an artificial intelligence system that mimics the evolutionary, survival of the fittest process to generate increasingly better solutions to a problem

Geographic Information System (GIS)

a geographic information system is designed specifically to analyze spatial information (on a map)

Predictive Analytics

a highly computational data-mining technology that uses information and business intelligence to build a predictive model for a given business application. Using historical information to predict future events and outcomes.

Neural Networks and Fuzzy Logic

a neural network is an artificial intelligence system that is capable of finding and differentiating patterns. Neural networks are most useful for identification, classification, and prediction when vast amounts of info are available. They are often used within a predictive analytics application

Nonrecurring or ad hoc decision

a nonrecurring decision is one made infrequently

Nonstructured Decision

a nonstructured decision is one for which there might be several right answers and there is no precise way to get a right answer

Prediction Indicator

a prediction indicator is a specific measurable value based on an attribute of the entity under consideration

Recurring Decision

a recurring decision is one that happens repeatedly and often periodically

Structured Decision

a structured decision involves processing a certain kind of information in a specified way so that you will always get the right answer. No feel or intuition is necessary. These are PROGRAMMED decisions.

User Interface Management Component

allows you to communicate with DSS. It is the part of the system that you see

Expert System

an expert system is an artificial intelligence system that applies reasoning capabilities to reach a conclusion. Expert systems are also referred to as knowledge-based systems. An expert system is usually built for a specific area called a domain

Multi-agent Systems

are being used to model stock market fluctuations, predict escape routes that people seek in a burning building, etc...

Digital Dashboards

display key info gathered from several sources on a computer screen in a format tailored to the needs and wants of an individual knowledge worker

Fuzzy Logic

fuzzy logic is a mathematical method of handling imprecise or subjective info. Fuzzy logic is an important part of most text analytics systems

Specialized Analytics

have broad application to all industries and a variety of business domains

Statistical Tools

help you apply various mathematical models to info to discover new info

Implementation

in the implementation phase you carry out the solution, monitor the results, and make adjustments as necessary (apply the fix)

Intelligent Agents

intelligent agents incorporate some form of AI like reasoning and learning to assist you or act on your behalf in performing repetitive computer based tasks

Satisficing

making a choice that meets your needs and is satisfactory without necessarily being the best possible choice available

Multidimensional Analysis Tools

slice-and-dice techniques that allow you to view multidimensional info from different perspectives

Data Management Component

stores and maintains information and giving access to info you want your DSS to use.

Swarm Intelligence

swarm intelligence is the collective behavior of groups of simple agents tat are capable of devising solutions to problems as they arise, eventually leading to global patterns

Text Analytics

text analytics is the process of using statistical, artificial intelligence and linguistic techniques to convert context into textual sources such as surveys, e-mails, or blogs

What are the 4 types of intelligent agents?

the 4 types of intelligent agents are: 1. Information Agents 2. Monitoring and Surveillance Agents 3. User Agents

Choice

the choice phase is the prescriptive phase (pick a fix)

Design

the design phases is developing all possible solutions (find fixes)

Databases

the heart of every organization and any analytics initiative. Gather, store and organize information from business intelligence.

Intelligence

the intelligence phases involves detecting and interpreting signs (find what to fix)

Prediction Goal

the question you want addressed by the predictive analytics model

Artificial Intelligence

the science of making machines imitate human thinking and behavior

Model Management Component

variety of statistical and analytical tools, techniques, and models