Business Reporting and Decision Support

Supporting Informed Decisions

• Decision-makers use organized data to analyze trends and make decisions based on a comprehensive understanding of the situation.

Business Reporting

• Business reporting presents data and information in an easy-to-understand format for decision-makers.

Visual Analytics for Decision Support

• Visual analytics uses graphical elements to help decision-makers quickly comprehend complex data.
• Tools like Tableau and Power BI facilitate better decision-making.

Business Intelligence (BI)

• BI involves collecting, analyzing, and presenting business information.
• BI Analytics focuses on processing and interpreting data to extract valuable insights.
• BI and analytics provide a foundation for data-driven decision support.

Drivers for Adoption

• Increased data volume due to digital technologies leads to a data explosion.
• BI tools assist in managing and extracting valuable insights from vast data.
• Faster decision-making is required in a competitive business environment.
• Real-time analysis enables organizations to gather and analyze data in real-time.
• Better customer experiences are achieved by understanding customer needs and behaviors.
• BI tools aid in delivering more relevant and targeted offerings.

Business Pressures

• Market pressures include competition and changing demands.
• Economic pressures include inflation and economic growth.
• Technological pressures include rapid technological change.
• Regulatory pressures include government regulations.

Responses to Counter Pressures

• Innovation involves constant development of new products and services.
• Cost reduction involves streamlining operations and outsourcing.
• Improved efficiency involves technological implementation and process improvement.
• Enhanced customer service and stronger brand reputation are essential.

Support to Better Facilitate the Process

• Employee training and development enhance skills and leadership.
• Investment in technology improves efficiency and productivity.
• Data-driven decision-making involves investing in data analytics tools and hiring data scientists.
• Agile business processes enable quick adaptation to change.
• A culture of innovation encourages and rewards innovative ideas.

Seamless Integration

• DSS leverages BI and analytics tools for comprehensive decision support.
• BI and analytics contribute to data-driven insights.

Techniques for Performance Management

• BPM involves strategies and techniques to monitor and improve organizational performance.
• Analytics tools help assess and enhance various aspects of business performance.

What is DSS?

• DSS are computer-based tools that aid decision-makers in making informed and timely choices.
• DSS help individuals and organizations analyze information, evaluate alternatives, and make better decisions.

Key Characteristics of DSS

• DSS are interactive, adaptable, and designed to support various decision-making processes.
• DSS utilize data, models, and analysis tools to facilitate decision-making.

Enhancing Decision-Making

• DSS play a vital role in improving decision-making by providing valuable insights and information.

Real-Time Decision Support

• DSS enable real-time analysis, helping organizations respond promptly to changing situations.

Decision-Making Criteria

• Decision criteria are the factors or standards used to assess and evaluate different options.
• Criteria help in evaluating options and selecting the most suitable one.

Decision Trees

• Decision trees are visual tools used to map out decision options and their potential outcomes.
• They help break down complex decisions into manageable steps.

Understanding Decision Criteria

• Decision criteria guide decision-makers in selecting the best choice among available alternatives.
• Examples of criteria include cost, time, quality, and other relevant factors depending on the context.