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Decision Support System and Business Intelligence - Essay Example

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This paper "Decision Support System and Business Intelligence" focuses on the fact that decision support system (DSS) refers to a computer application program that is used to analyze and present data so that the users of such data can then apply the results to make business decisions. …
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Decision Support System and Business Intelligence
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Download file to see previous pages To arrive at the desired data analysis results, a Decision support system can be either fully computerized, fully human-operated, or a combination of both, where a person can feed data into the Decision support system program, and then run the program so that it generates the desired data for use in decision making. An example of a fully computerized Decision support system is a system that is applied to compare the sales figure of one week from the other, after having collected data regarding all the sales figures of the business throughout the week from the system. A Decision support system that provides projected sales and revenue figures for the future, after assumption figures regarding the same are fed into the computer application program forms a human-computer combined DSS, while an application program that is used to analyze the effect of adapting certain decisions as opposed to others forms an example of a fully human DSS. The analysis function of the Decision support system serves to make the decision-making process for the management easier since it simplifies bulk data and makes it more understandable.

Business intelligence refers to the methodologies, technologies, architecture, theories and techniques that are combined under one umbrella, to change raw data into simplified and useful information that has some meaningful business sense, which is then applied by the management of a business to make various decisions regarding its operations. This combined set of mechanisms takes in some unstructured data and sorts it out, to help identify the existing opportunities for a business, or even to develop such new opportunities, which the business can then take advantage of to continue its growth strategy while achieving a competitive edge over the others. Business intelligence provides a range of processed and analyzed information ranging from the historical, current and future projections of business operations and then reports the same to the management of the business to take the necessary actions.    ...Download file to see next pagesRead More
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