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Frequently Asked Questions about Decision Support Systems by Dan Power

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50 results for "decision-making models"

Question	Category	Date
What is predictive analytics? by Dan Power Editor, DSSResources.COM Predictive analytics involves systematic analysis of data using quantitative and statistical models to pr...	DSS Foundations	Jul 16, 2018
Why are quantitative models useful for decision support? by Dan Power Editor, DSSResources.com Managers need to understand the value that a quantitative model creates for decision making. By identifyin...	DSS Foundations	Jan 28, 2013
What is a robust decision support quantitative model? by Daniel J. Power Editor, DSSResources.COM Some quantitative models provide very different results when assumptions are violated and when model ...	DSS Foundations	Apr 17, 2015
What is a data modeler? by Daniel J. Power Editor, DSSResources.COM In the era of rapidly expanding, diverse data, someone needs to identify patterns and regularities in...	DSS Foundations	Sep 21, 2015
What is a good replacement for models built using IFPS? On December 5, 2000, Hubert Deneault, Hydro-Quebec, wrote "First, I want to thank you for offering a service like DSSResources.com. It is very he...	Model-driven DSS	Aug 07, 2005
What is visual analytics? by Daniel J. Power Editor, DSSResources.COM Visual analytics combines automated analysis techniques with interactive visualisations to support de...	DSS Foundations	Jun 12, 2013
What was the DSS News in October 2000? by Daniel Power Volume 1, issue number 12 of DSS News was published October 9, 2000. Then as now DSS News was a bi-weekly publication of DSSResourc...	DSS Foundations	Oct 11, 2020
What are critical success factors for using advanced analytics? by Daniel J. Power Editor, DSSResources.COM Presence of critical success factors (CSF) influence the performance of a task, project or organizati...	DSS Foundations	Dec 21, 2013
How do decision-making models relate to the design and use of DSS? by Dan Power Editor, DSSResources.com Both descriptive and prescriptive quantitative decision making model asre important to understanding compu...	DSS Theory	Mar 07, 2015
What technologies are used for decision automation? by Dan Power Editor, DSSResources.com Software and system designers can use a number of differing technologies to build a system to automate deci...	DSS Foundations	Jul 30, 2012
What factors indicate a special study is more appropriate than a DSS? by Dan Power Editor, DSSResources.com Personal and organizational factors, cultural factors, decision factors, information factors and psycholog...	Building DSS	Dec 26, 2015
How is data governance relevant to decision support? by Daniel J. Power Data governance (DataGov) refers to a broad process of managing the availability, usability, integrity and security of data used...	DSS Foundations	Oct 02, 2017
What is digital disruption? by Daniel J. Power Editor, DSSResources.COM Digital disruption can be viewed as either a problem or as an opportunity or even perhaps as both sim...	DSS Foundations	May 14, 2019
How important is forecasting decision support? by Daniel J. Power Editor, DSSResources.COM Decision support and analytical systems that use data sets with models and statistical analyses remain...	DSS Foundations	Jul 12, 2015
What is sabermetrics? by Daniel J. Power Editor, DSSResources.COM Sabermetrics is a specific use of analytics in decision making. It is "the application of statistical...	DSS Foundations	Feb 06, 2014
What is Alter's DSS taxonomy? by Daniel J. Power Editor, DSSResources.com In the mid-1970s, the first wave of computerized decision support systems (DSS) became practical. St...	DSS Foundations	Jun 18, 2018
What are the rules for building a successful model-driven DSS? by Dan Power Editor, DSSResources.COM It is important to discuss what impacts the success of computerized Decision Support Systems. My DSS bo...	Model-driven DSS	Oct 22, 2006
Do small businesses need DSS? by Dan Power Editor, DSSResources.com Today decision-making is more difficult for all managers including those in small businesses. On the positi...	DSS Foundations	Jan 10, 2010
Is ETL software needed to build a model-driven DSS? by Daniel J. Power Editor, DSSResources.COM ETL refers to software used in the process of extracting data from a data source, transforming or alt...	Model-driven DSS	Apr 15, 2017
How does a data architecture impact decision support capabilities? by Daniel J. Power Editor, DSSResources.COM A data architecture is important, but sometimes the task of creating a formal architecture document se...	DSS Foundations	Mar 31, 2015
What is sustainability-based decision making? by Dan Power Editor, DSSResources.com Considering criteria related to sustainability when making routine or complex decisions can be termed sust...	DSS Foundations	May 28, 2014
How can analytics and decision support reduce insurance fraud? by Daniel J. Power Editor, DSSResources.COM Preventing and detecting insurance fraud is a critical task at insurance companies. There is some evi...	DSS Foundations	Mar 02, 2014
What is a computer supported special decision study? by Dan Power Editor, DSSResources.com Frequently, computerized tools are used to prepare one-time special studies and reports in unstructured, ...	DSS Foundations	Dec 23, 2015
What are key database concepts for managers? by Dan Power Editor, DSSResources.com Managers need a basic understanding of computerized databases. Why? Because database systems provide the ke...	DSS Foundations	Jan 01, 2011
What steps create a data-driven organization? by Daniel J. Power Editor, DSSResources.com Transforming a traditional organization into one where data is systematically incorporated into decis...	DSS Foundations	Jul 26, 2017
How can behavioral models be used for decision support? In the Ask Dan! of July 6, 2003 I discussed the question "How can simulation be used for decision support?" That column provided an overview...	Model-driven DSS	Aug 06, 2005
Is decision support research still needed? Daniel J. Power Editor, DSSResources.com Digital transformation is occurring globally and data-driven decision support, machine learning, and Arti...	DSS Foundations	Nov 25, 2019
What is a Planning Support System? by Dan Power Editor, DSSResources.com Reading the trade press, academic articles and web sites forces those of us interested in computerized supp...	DSS Foundations	Aug 06, 2005
Is the technology acceptance model relevant to decision support? by Daniel Power Editor, DSSResources.com Substantial resources are expended building and installing decision support systems. Some guidance about...	DSS Foundations	Jul 31, 2016
What are the features of a model-driven DSS? by Dan Power Editor, DSSResources.com This is the final column about features of computerized decision support systems. The focus is on mod...	Model-driven DSS	Aug 09, 2008
What are various categories and classifications for decision support? by Daniel J. Power Editor, DSSResources.com Computerized decision support systems emerged in the 1960s with model-driven DSS. Decision Support Sys...	DSS Foundations	Mar 17, 2020
What is the best approach for organizing data? by Daniel J. Power Editor, DSSResources.COM In an information technology context, organizing means to arrange data in a coherent form and to syst...	DSS Foundations	Jul 25, 2013
What is analytical processing? by Dan Power Editor, DSSResources.com Transforming data and summarizing it is a key task in many decision making situations. Once this task is co...	DSS Foundations	Feb 12, 2010
What is a data warehouse appliance? by Dan Power Editor, DSSResources.com In general, a data warehouse (DW) appliance is an integrated hardware and software bundled application. A...	Data-driven DSS	Feb 19, 2012
How does data mining provide knowledge? by Daniel J. Power Editor, DSSResources.com In the 1970s, companies employed business analysts who used statistical packages like SAS and SPSS to...	DSS Foundations	Jan 17, 2021
What are the "hot" DSS research topics? Academic research in the U.S. often seems as susceptible to trends and "hot" topics as other segments of our culture. For the past 10 years ...	Evaluating DSS Projects	Aug 07, 2005
What is big data analytics? by Daniel J. Power Editor, DSSResources.COM Big data analytics combines buzz words and is a buzz phrase. The basic idea of this new business jarg...	DSS Foundations	Jul 15, 2018
How does sensitivity analysis differ from "What if?" analysis? by Dan Power Editor, DSSResources.COM In the early days of decision support deployment, one of the major "selling points" of vendors and academ...	Model-driven DSS	Aug 30, 2014
How do predictive analytics support decision making? by Dan Power Editor, DSSResources.com Predictive analytics is a general term for using simple and complex models to support anticipatory decisio...	Building DSS	Jul 30, 2012
How are organizational decisions made? by Dan Power Editor, DSSResources.com One of the most debated and studied organizational decision processes is the decision making by President J...	DSS Foundations	Dec 24, 2010
How can managers cope with digital disruption? by Daniel J. Power and Ciara Heavin Nineteen fifty one (1951) marks the beginning of the first wave of economic and social digital disruption and tr...	DSS Foundations	Jun 25, 2018
How can decision support aid smart manufacturing initiatives? by Daniel J. Power Editor, DSSResources.COM, University of Northern Iowa, USA; Marzieh Khakifirooz, National Tsing Hua University, Taiwan; Mahdi F...	DSS Foundations	Jun 13, 2018
What should managers know about predictive analytics and model-driven decision support? by Dan Power Editor, DSSResources.COM Companies are implementing predictive analytics and quantitative models to assist managers. There remain ...	DSS Foundations	Aug 19, 2012
Why is a person kept in the decision cycle? by Daniel J. Power Editor, DSSResources.COM Decision making using data and algorithms has inherent limitations. Decision automation and decision m...	DSS Foundations	Feb 04, 2018
What are common data mining mistakes? by Dan Power Editor, DSSResources.com Data mining is a broad term for identifying patterns in data, analyzing data and summarizing it into useful...	DSS Foundations	Dec 19, 2010
What is the output of a decision support system? by Dan Power Editor, DSSResources.com Traditionally, one would answer the output of a DSS is "relevant information". Correct, but DSS designers ...	Building DSS	Feb 06, 2008
What is analytics? by Dan Power Editor, DSSResources.COM Analytics refers to quantitative and statistical analysis of data. Analytic capabilities are important in...	DSS Foundations	Oct 07, 2020
What are common data mining tools? by Dan Power Editor, DSSResources.com As it became possible and affordable to store large amounts of data, managers wanted to access and analyze ...	DSS Foundations	Dec 06, 2009
What are Analytical Information Systems? by Dan Power Editor, DSSResources.com Analytical Information Systems provide information, analysis and possibly recommendations. Henry Morri...	DSS Foundations	Dec 29, 2015
What is a DSS? by Dan Power Editor, DSSResources.com "What is a DSS?" is a fundamental question that many have addressed over the years. It seems appropriate to...	DSS Foundations	Mar 20, 2009

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