Decision Support System Flashcards, test questions and answers

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What is Decision Support System?

A Decision Support System (DSS) is a computer-based system used to aid decision making in organizations. It is designed to help users make better decisions based on data, models, and algorithms. DSSs provide a range of analytical capabilities and can be tailored to fit specific organizational needs. The goal of using a DSS is to improve the quality and speed of decision-making processes by allowing users to more quickly gather and analyze information from multiple sources. The first step in implementing a DSS is gathering the necessary data for analysis. This may include internal company records, external sources such as market research or industry reports, or even user input from surveys. Once the data has been gathered, it must be organized into meaningful subsets so that it can be analyzed using algorithms or statistical models for efficient decision-making purposes. The output of this analysis should then be presented in an easily understandable format so that users are able to effectively interpret the results and determine appropriate courses of action based on their findings. DSSs also have the ability to incorporate expert knowledge into their analysis processes through expert systems which allow users to input their own experience or unique perspectives into management decisions. These systems are particularly useful when making complex decisions that require specialized expertise or judgment such as determining the best course of action for an organization’s strategy moving forward as they allow users access to up-to-date industry insights and trends which can inform their decisions accordingly. Overall, Decision Support Systems are powerful tools for organizations looking to streamline their decision-making processes without sacrificing accuracy or efficiency.