Decision Support News
D. J. Power, Editor
November 09, 2014 Vol. 15, No. 23
1) What is data-driven decision making?
2) Recent DSS News Headlines
3) Upcoming Decision Support Conferences/Call for Papers
What is data-driven decision making?
by Daniel J. Power
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.
Continue reading at
Click for more Frequently Asked Questions
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.
Order Dan Power's new book: Decision Support, Analytics, and Business Intelligence, Second Edition
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