Management Information Systems in a VUCA Environment

Real-time processing & predictive analytics, process mining, robotic process automation, OKR and other digital metrics, self-service and mobile BI, digital nudging, chatbots & virtual personal assistants, data storytelling and visualization.

A trend in data processing and representation that involves analyzing and improving business processes.

Robotic process automation refers to the automation of individual repetitive tasks, while autonomation involves autonomous pattern recognition and direct communication with management.

<p>Towards data scientists.</p> Signup and view all the answers

<p>Robotic process automation is platform-based and has higher efficiency, while robotic desktop automation is decentralized and used on individual desktops.</p> Signup and view all the answers

<p>In the section 'AI support in decision-making'.</p> Signup and view all the answers

<p>The five levels of automation in decision-making are: Level 0 - Humans decide, Level 1 - Assisted decision-making, Level 2 - Partial decision-making, Level 3 - Verified decision-making, and Level 4 - Delegated decision-making, and Level 5 - Autonomous decision-making. The level of automation is determined by the structuredness of the decisions to be taken and the acceptance of machine-based decision-making.</p> Signup and view all the answers

<p>An expert system is a computer-based system that mimics problem-solving and decision-making of human experts, mostly in narrowly defined domains. Its primary function is to provide expert-level advice and guidance in specific areas.</p> Signup and view all the answers

<p>The primary function of a recommendation system is to predict the importance or rating a user will attach to a product or service, and to provide personalized product or service recommendations based on these preferences.</p> Signup and view all the answers

<p>A chatbot is a computerized service that enables easy conversations between humans and humanlike computerized robots, through writing, voice, or images. It uses natural language processing (NLP) and machine learning to extract knowledge from data and learn from accumulated experience.</p> Signup and view all the answers

<p>The primary difference is that Level 1 - Assisted decision-making provides suggestions or recommendations to humans, while Level 2 - Partial decision-making takes over certain decision-making tasks from humans.</p> Signup and view all the answers

<p>The primary function of AI-based knowledge systems is to mimic human problem-solving and decision-making capabilities in specific domains, providing expert-level advice and guidance.</p> Signup and view all the answers

<p>Algorithm aversion</p> Signup and view all the answers

<p>To explain the value of data and simplify complexity</p> Signup and view all the answers

<p>What action is to be taken based on the data analysis?</p> Signup and view all the answers

<p>To simplify complexity</p> Signup and view all the answers

<p>Identifying the outcome</p> Signup and view all the answers

<p>To assess causality</p> Signup and view all the answers

<p>To help people better perform certain tasks and improve their work, assist in decision-making, and facilitate their lifestyle.</p> Signup and view all the answers

<p>To become integral parts of modern management information systems.</p> Signup and view all the answers

<p>Using ChatGPT for data analysis.</p> Signup and view all the answers

<p>Selection bias, availability heuristic, motivated reasoning, historical bias, confirmation bias, correlation vs causation, outlier bias, overfitting, and survivorship bias.</p> Signup and view all the answers

<p>To facilitate effective communication and representation of data insights.</p> Signup and view all the answers

<p>To structure the process of machine learning.</p> Signup and view all the answers

<p>Volatility, Uncertainty, Complexity, and Ambiguity</p> Signup and view all the answers

<p>Vital role in providing management with necessary information to take meaningful decisions</p> Signup and view all the answers

<p>Availability of growing volumes of structured and unstructured data, increasing computing power, and better algorithms</p> Signup and view all the answers

<p>Artificial intelligence</p> Signup and view all the answers

<p>Not specified in the provided text, but generally include a database, model base, and user interface</p> Signup and view all the answers

<p>Reporting, OLAP, Data mining, Company-specific applications, Data storage and data provisioning, Operational systems</p> Signup and view all the answers