COMPUTER TECHNOLOGIES SUPPORTING MANAGERIAL DECISION MAKING

Posted on | By Kalyan Bora

COMPUTER TECHNOLOGIES SUPPORTING MANAGERIAL DECISION MAKING

🖥️ WHAT ARE COMPUTER TECHNOLOGIES SUPPORTING MANAGERIAL DECISION-MAKING?

  • Definition: Computer technologies supporting managerial decision-making encompass a range of tools and systems that aid managers in processing and analyzing data to make informed decisions.

🔍 WHAT ARE THE KEY COMPUTER TECHNOLOGIES USED FOR MANAGERIAL DECISION-MAKING?

  • Business Intelligence (BI) Tools: Software applications that collect, integrate, analyze, and present business information to support decision-making processes.
  • Data Analytics Platforms: Platforms equipped with advanced analytical capabilities for processing and interpreting large volumes of data to derive actionable insights.
  • Decision Support Systems (DSS): Interactive computer-based systems that assist managers in decision-making tasks by providing data analysis, modeling, and simulation capabilities.
  • Artificial Intelligence (AI) and Machine Learning (ML) Tools: Technologies that enable machines to learn from data and make predictions or decisions without explicit programming.
  • Data Visualization Software: Tools for creating visual representations of data, such as charts, graphs, and dashboards, to facilitate understanding and interpretation.
  • Enterprise Resource Planning (ERP) Systems: Integrated software platforms that automate and streamline business processes across departments, providing real-time data for decision-making.

🚀 HOW DO THESE TECHNOLOGIES SUPPORT MANAGERIAL DECISION-MAKING?

  • Data Accessibility: Computer technologies provide easy access to relevant data from various sources, allowing managers to make data-driven decisions.
  • Data Analysis: Advanced analytical capabilities enable managers to analyze large datasets, identify patterns, trends, and outliers, and derive actionable insights.
  • Predictive Modeling: AI and ML algorithms facilitate predictive modeling, enabling managers to forecast future outcomes and anticipate potential risks or opportunities.
  • Visualization and Reporting: Data visualization tools transform complex data into visual representations, making it easier for managers to understand and communicate insights.
  • Automation and Efficiency: ERP systems automate routine tasks, streamline processes, and provide real-time data, increasing efficiency and enabling faster decision-making.

💡 WHAT SKILLS ARE REQUIRED TO EFFECTIVELY UTILIZE THESE TECHNOLOGIES?

  • Technical Proficiency: Familiarity with computer technologies, software applications, and data analysis tools.
  • Analytical Skills: Ability to interpret data, analyze trends, and derive actionable insights from complex datasets.
  • Critical Thinking: Capacity to evaluate information, assess risks, and make informed decisions based on evidence and analysis.
  • Communication Skills: Capability to communicate findings, recommendations, and insights effectively to stakeholders at various levels.
  • Problem-Solving Skills: Aptitude for identifying problems, formulating solutions, and implementing strategies to achieve business objectives.
See also  GROUP DECISION SUPPORT SYSTEMS

Keywords: Computer Technologies, Managerial Decision-Making, Business Intelligence, Data Analytics, Decision Support Systems, Artificial Intelligence.

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See also  DECISION MAKING AND MANAGEMENT INFORMATION SYSTEMS (MIS)

  1. COST AND VALUE OF INFORMATION
  2. OFFICE AUTOMATION SYSTEMS
  3. GROUP DECISION SUPPORT SYSTEMS
  4. EXECUTIVE INFORMATION SYSTEMS
  5. ARTIFICIAL INTELLIGENCE-BASED SYSTEMS SUCH AS EXPERT SYSTEMS
  6. RE-ENGINEERING WORK PROCESSES FOR IT APPLICATION
  7. IS STRATEGY AND EFFECTS OF IT ON COMPETITION
  8. IT LEADERSHIP & IS STRATEGIC PLANNING
  9. END USER COMPUTING
  10. STRUCTURED SYSTEMS ANALYSIS
  11. INFORMATION INFRASTRUCTURE
  12. LEGAL ISSUES AND NATIONAL INFORMATION INFRASTRUCTURE
  13. PREDICTIVE ANALYTICS
  14. DATA MINING PROCESS, METHODS, AND ALGORITHMS
  15. TEXT, WEB, AND SOCIAL MEDIA ANALYTICS
  16. PRESCRIPTIVE ANALYTICS
  17. FUTURE TRENDS IN PRIVACY
  18. FUTURE TRENDS IN PRIVACY
  19. DECISION MAKING AND MANAGEMENT INFORMATION SYSTEMS (MIS)
  20. INTRODUCTION TO INFORMATION SYSTEMS
  21. DATA SCIENCE
  22. INFORMATION SYSTEMS AND THEIR APPLICATIONS
  23. OVERVIEW OF BUSINESS ANALYTICS & DATA SCIENCE
  24. ANALYTICS ON SPREADSHEETS
  25. DATA MODELING
  26. DESCRIPTIVE ANALYTICS
  27. STATISTICAL MODELING AND VISUALIZATION
  28. NATURE OF DATA
  29. BUSINESS INTELLIGENCE AND DATA WAREHOUSING
  30. BUSINESS INTELLIGENCE
  31. BUSINESS ANALYTICS
Category: BUSINESS ANALYTICS AND INFORMATION SYSTEM
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