17 Questions
What type of analysis is performed by a model-driven DSS?
Quantitative analysis
What type of problems do Model-Driven DSS systems typically help to solve?
Structured and well-defined problems
What is the primary function of a Model Management Software (MMS) in a DSS?
Coordinates the use of models in a DSS
What is a characteristic of Data-Driven DSS systems?
They involve large amounts of data
What type of DSS is used to perform qualitative analysis on a company's databases?
Data-driven DSS
In a Model-Driven DSS, what does the user interact with primarily?
The model itself
What type of analysis is enabled by a DSS that allows for 'what-if' scenarios?
Sensitivity analysis
What is the primary purpose of a Decision Support System (DSS)?
To support decision-making by analyzing data and models
What is the purpose of a Model-Driven DSS in decision-making?
To understand the impact of decisions on the organization
What is an example of a decision that can be supported by a DSS?
Should we expand into another product line?
What type of data is used in a Data-Driven DSS?
Both internal company data and external data
What is a key difference between Model-Driven and Data-Driven DSS systems?
The type of problems they solve
What is the primary function of a yield management system in the airline industry?
To maximize the amount of revenue generated on each flight
What type of DSS is used to evaluate and compare air fares on Travelocity.ca?
Data-Driven DSS
What is the primary difference between Model-Driven DSS and Data-Driven DSS?
The type of models used for recommendation generation
What is the purpose of a what-if analysis in a DSS?
To evaluate the impact of different scenarios on a decision
What type of investment evaluation is facilitated by a Model-Driven DSS?
Evaluating alternative investment in mortgage portfolios
Test your knowledge of Decision Support Systems (DSS), their characteristics, components, and applications in business decision making.
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