Using The Decision Support System On The Decision Making Process

Using The Decision Support System On The Decision Making Process

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Using The Decision Support System On The Decision Making Process


The managers of today’s ever-expanding trade and business organizations are faced with the primary work of making crucial and critical decisions every moment. What would have happened if they had to handle loads of raw data, information, the business profits, revenues and statistical inputs in order to include them in the decision making process of the firm? To impact such tough jobs, Decision Support Systems have been invented in order to bring about perfection in decision making process and to help managers deal with the information with ease.

Decision Support Systems can be referred to as a particular computer software- information systems which compiles massive business data and business models in a systematic manner, thus helping entrepreneurs of huge firms in the decision making process. The impact of the Support Systems on decision making process has been profound. It takes into account comparative sales data between a week and the previous one, assumed revenue figures based on the assumptions of new product sales, inventories of current assets etc.

Based on the various ways in which the DSS impact decisions, there are five types of such Support Systems as propounded by Daniel Power. They are Communication Driven DSS which has its impact on one person on a shared task; Data Driven that manipulates internal and external data of the company; Document Driven that helps decision making process by manipulating unstructured information; Knowledge driven that aids in problem solving; Model driven DSS that manipulates financial, optimization, statistical and simulation models.

With the growing dependence of managers on Decision Support Systems for making decisions, the impact of the former on the latter is becoming increasingly significant. DSS helps entrepreneurs to select an option out of thousands, evaluate the particular one and execute it in the process. The impact of these Support Systems on companies and organizations too is inevitable. They lead to a more structured, organized, well-managed data processing system and well-controlled system projects, thus striking a balance between the various departments.

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Using The Decision Support System On The Decision Making Process

Data-Analysis-Decision-Making      With the aggrandizement in technological progress and increasing trade volumes, data analysis in making decision has come to be of utmost importance. Gone are the days when traders used to sit back at the end of the day to glimpse through the details acquired to have an idea of instrument pricing. Today, with loads of information filling up the laptops and hard disks, entrepreneurs are taking recourse to various technologies and statistical tools for data analysis and decision making. More..