New age of decision making
Computer Sciences and Information Technology
New age of decision making
Explain how increasingly standardized data, access to third-party datasets, and current trends in hardware and software are collectively enabling a new age of decision making?
Was a text study referenced?
What trends in Hardware and Software are facilitating decision making?
Today’s decisions are driven by what and based on what?
What is the “Phrase of the day”?
What is considered a “defensible source of competitive advantage”, and what makes is so defensible?
Number of paragraphs (3 to 5)
Book is attached or can be found for free at this site https://open.lib.umn.edu
Increasing data and business intelligence has brought about various opportunities such as increased standardized data, access to third-party data set, new and easy software’s and hardware’s to use. Terms such as decision support systems are not used anymore in this era of decision making. Business intelligence involves data exploration, data reporting and ad hoc queries. Business intelligence works with managerial analytics which drives decision making and actions.
Access to that party data involves purchasing data from outside sources from aggregators who collects data from many sources and collects the data into a dataset. Organizations and individuals have technology but accessing and acquiring data is quite challenging. Third-part data is a very powerful tool especially in marketing organizations where data can be sources from the public and data brokers.
New trends in software and hardware have enhanced decision making where data is accepted and facilitated which converts data facts into meaningful comparisons of tables, charts and graphs to enhance decision making in solving issues. The current trends in hardware and software includes high use of reduced instructions-set computing ,development of large software libraries and migration to the UNIX operating system, speech synthesis and recognition, application generators, development of huge software libraries as well as fourth generation languages.
The micro-processor smart based terminal enables validation of data remotely by use of special tools .The reduced instruction- set computing uses software’s that creates routines to handle complicated instructions at a higher speed being able to perform in a performing or industrial environment. Speech synthesis and recognition is based on human speech model which compared the voice pattern recorded with the stored sounds. Organizations have migrated from Linux to UNIX operating systems for maximum performance which uses hardware’s such as the Solaris. The above trends have facilitated decision making in various sectors through efficiency and speed enhancement.
Today’s decisions are driven by a data-driven culture based on integration of analytical tools such as the data capture into decision making process. For instance amazon uses data to enhance the performance by sending recommendations in their site, through websites or emails. The method used by amazon is an example of data-driven business decision. Airports using data to monitor and track clients belonging enhance loyalty in the operation. Business intelligent software’s are applied in collecting and analysing data which enhances organizations continuous growth, predict future trends and optimization of business operations.
“Phrase of the day” is business intelligence which combines data creation, analysis, and competitive advantage and so on. Business intelligence uses software’s to change data into actionable insights for organizations to make decisions. The business intelligence tools analyse data ,identify results summarizes and compares the data inform of graphs and charts to give the owner information about business condition. Business intelligence encompasses reporting, data mining, visualization and online analytical processing.
“Defensible source of competitive advantage” Is a term applied which originate from data capabilities that can be acquired by others though considered to be short-lived. Data can be considered a defensible source of competitive advantage when the data is valuable, have no substitute of is rare. Most organizations dominate on a certain valuable data especially if the data brings about accurate modelling. Differentiation of data is important in determining ef3ctive data use compared to increasing customer service and lowering costs. In various organizations available data is not exploited to advantage.