from DSSResources.com

Decision Support News
D. J. Power, Editor
November 09, 2014             Vol. 15, No. 23


In this issue

1) What is data-driven decision making?
2) Recent DSS News Headlines
3) Upcoming Decision Support Conferences/Call for Papers


1) What is data-driven decision making?

by Daniel J. Power
Editor, DSSResources.com

A recent Capgemini (2012) study found that 9 out of 10 business leaders “believe data is now the fourth factor of production, as fundamental to business as land, labor and capital.” That report concludes “Big Data represents a fundamental shift in business decision making.” Data-driven decision making refers to the collection and analysis of data to guide or make decisions. Data has been used to support structured decisions since people began collecting and recording data. High velocity data can potentially improve routine, reoccurring decisions, but the impact on unstructured strategic decisions is less certain. Some vendors broadly assert that big data and statistical analysis will be helpful for "all" decisions if we are creative in using data. Decisions are choices among options, but some choices are more complex and difficult than others and some options are ambiguous and poorly defined.

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2) Recent DSS News Headlines

11/07/2014 Big data and Smart Technologies are Security Industry's top priorities. Check release.

11/05/2014 Customer Journey poll from SAP: Americans seek shared values and personalized experience with brands when making buying decisions. Check release.

3) Upcoming Decision Support Conferences/Call for Papers/Books

1. Nov. 22-25, 2014, 45th Annual DSI meeting - Tampa, FL, Click here.

2. Dec. 28-29, 2014 “Big Data and Analytics For Business(BDAB-2014)”, New Delhi, India. Check the website Click here.

3. May 27-29, 2015 ICDSST 2015 organized by the EWG-DSS/ The theme is “Big Data Analytics for Decision Making”, Belgrade, Serbia. Check the website Click here.

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