Podcast
Questions and Answers
Which of the following best describes the decision-making process?
Which of the following best describes the decision-making process?
What are the key components necessary to build successful Decision Support Systems (DSS)?
What are the key components necessary to build successful Decision Support Systems (DSS)?
In the context of managerial decision-making, what does the process involve?
In the context of managerial decision-making, what does the process involve?
What is a common misconception about the managerial decision-making process?
What is a common misconception about the managerial decision-making process?
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How should solutions to modeled problems be addressed in the decision-making process?
How should solutions to modeled problems be addressed in the decision-making process?
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What is the main focus of the intelligence phase in Simon's decision-making process?
What is the main focus of the intelligence phase in Simon's decision-making process?
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What can be a challenge associated with data collection during the intelligence phase?
What can be a challenge associated with data collection during the intelligence phase?
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Which type of problems requires a systematic approach to classify during decision-making?
Which type of problems requires a systematic approach to classify during decision-making?
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What is a key difference between a heuristic and analytical decision-making style?
What is a key difference between a heuristic and analytical decision-making style?
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During the intelligence phase of decision-making, how is a problem defined?
During the intelligence phase of decision-making, how is a problem defined?
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In the context of decision-making, what is the importance of problem decomposition?
In the context of decision-making, what is the importance of problem decomposition?
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Which of the following describes the decision-making style that involves consulting with individuals or groups?
Which of the following describes the decision-making style that involves consulting with individuals or groups?
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In a medium-to-large organization, why might consensus be difficult to achieve?
In a medium-to-large organization, why might consensus be difficult to achieve?
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What is a vital capability of a successful computerized decision-making system?
What is a vital capability of a successful computerized decision-making system?
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In the context of decision styles, what distinguishes heuristic decision-making?
In the context of decision styles, what distinguishes heuristic decision-making?
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What primarily characterizes Big Data?
What primarily characterizes Big Data?
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Which of the following is NOT one of the 3Vs of Big Data?
Which of the following is NOT one of the 3Vs of Big Data?
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What function does a cookie perform in the context of e-commerce?
What function does a cookie perform in the context of e-commerce?
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What is the purpose of behavioral targeting in marketing?
What is the purpose of behavioral targeting in marketing?
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Which term describes the percentage of visitors who click on a banner ad after seeing it?
Which term describes the percentage of visitors who click on a banner ad after seeing it?
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In the context of online advertising, what is meant by 'CPM'?
In the context of online advertising, what is meant by 'CPM'?
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What is a misconception about big data's value?
What is a misconception about big data's value?
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Which option is considered a motivational factor influencing online consumer behavior?
Which option is considered a motivational factor influencing online consumer behavior?
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What is 'collaborative filtering' used for in e-commerce?
What is 'collaborative filtering' used for in e-commerce?
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Which of the following is a hygiene factor that influences consumer behavior?
Which of the following is a hygiene factor that influences consumer behavior?
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Which of the following describes the user profile in personalization?
Which of the following describes the user profile in personalization?
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What is the purpose of analyzing online consumer behavior?
What is the purpose of analyzing online consumer behavior?
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What does the conversion rate measure in web advertising?
What does the conversion rate measure in web advertising?
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Which of the following best describes the role of user preferences in advertising personalization?
Which of the following best describes the role of user preferences in advertising personalization?
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Study Notes
Decision Style
- The manner in which decision makers think and react to problems.
- This includes how decision makers perceive problems, their 'cognitive response', and their values and beliefs.
- Individuals follow different steps and sequences when making decisions, and they prioritize, emphasize, and allocate time to different steps differently.
Decision-Making Styles
- Decision-making styles can be categorized as Heuristic versus Analytic, Autocratic versus Democratic, and Consultative.
- Consultative styles can be with individuals or groups.
- A successful system should be flexible and adaptable to different users, whether individuals or groups, and should fit both the decision style and the decision situation.
Decision Makers
- Individuals make decisions in small organizations, and these individuals often have conflicting objectives.
- Groups make decisions in medium to large organizations, and these groups also have diverse styles, backgrounds, and expectations, leading to conflicting objectives.
- Reaching a consensus can be challenging in groups, so computer support, GSS (Group Support Systems) and other tools can be helpful.
Phases of Decision-Making Process
- There are four main phases in the decision-making process, according to Simon (1977): Intelligence, Design, Choice, Implementation, and potentially Monitoring.
- Humans, consciously or subconsciously, follow a systematic decision-making process.
- Monitoring can be considered part of the intelligence phase.
Decision Making: Intelligence Phase
- The intelligence phase includes scanning the environment, identifying problem situations or opportunities, and monitoring the results of implementation.
- This is the problem identification phase.
- A problem is the difference between what people desire or expect and what is actually occurring.
- It is important to differentiate between a symptom and the underlying problem.
- Early identification of both problems and opportunities is crucial.
Decision Making: Intelligence Phase - Phase 1
- Data and information collection and estimation can be challenging.
- Lack of data, cost of data collection, inaccurate or imprecise data, subjective data estimation, data security concerns, the prevalence of qualitative data, and the time-dependent nature of data can pose problems.
Decision Making: Intelligence Phase - Problem Classification
- Problems can be categorized based on their degree of structuredness.
Decision Making: Intelligence Phase - Problem Decomposition
- Solving simpler subproblems can often be helpful in tackling a complex problem.
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Description
Explore the various decision-making styles and the cognitive processes involved. This quiz covers individual and group decision-making, highlighting heuristic versus analytic methods and autocratic versus democratic styles. Understand how these styles impact problem-solving and organizational dynamics.
