Decision Support News
D. J. Power, Editor
January 17, 2021 Vol. 22, No. 02
Inaugural newsletter issue was May 10, 2000, this is issue 538.
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1) How does data mining provide knowledge?
2) Recent Decision Support News Headlines
3) Upcoming Decision Support Conferences/Call for Papers
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1) How does data mining provide knowledge?
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by Daniel J. Power
In the 1970s, companies employed business analysts who used statistical packages like SAS and SPSS to perform trend analyses and cluster analyses on data to find patterns and draw conclusions. As it became possible and affordable to store large amounts of data, managers wanted to access and analyze transaction data like that generated at a retail store cash register. Bar coding and the World Wide Web have also made it possible for companies to collect large amounts of new data. In 2021, business and data analytics professionals are more common. The Internet of Things (IoT) generates "big data", a large volume of varied, and often volatile and high velocity (streaming) data. If data is accurate, then data mining can provide knowledge and create value.
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2) Recent Decision Support Headlines
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01/12/2021 Okera unveils five top data privacy and analytics trends for 2021. Check release.
01/07/2020 Enterprise AI 2021 - Top 10 Vendors announced. Check release.
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3) Upcoming Decision Support Conferences
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1. Call for Papers: MWAIS 2021 Conference: May 20-21, 2021 at Bradley University. Check release.
2. Call for articles Journal of Business Analytics, an official journal of the Operational Research Society. The journal serves the emerging and rapidly growing community of business analytics both in academia and industry. Check https://www.tandfonline.com/toc/tjba20/current.
Order Daniel Power and Ciara Heavin's book: Decision Support, Analytics, and Business Intelligence, Third Edition, Click here
Become a Business Expert Press author
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New book: Power, D. and C. Heavin, Data-Based Decision Making And Digital Transformation, Business Expert Press, 2018 at URL Click here. EBook Price $19.95, Print Price $34.95, In Stock June 10, 2018.
Power & Heavin (2018) argue "Digital disruption is accelerating. Implementing a successful digital transformation strategy requires that senior managers make trade-off decisions to reinvent a business. Equally important all decision makers must learn to ask the right questions, use data and computer support in decision making, and increase their knowledge and skills. Creating a data-centric culture and rewarding data-based decision making leads to successful digital transformation."
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