Management Information Systems
• Promotes learning or training• Increases organizational control• Generates new evidence in support of a decision• Creates a competitive advantage over competition• Encourages exploration and discovery on the part of the decision maker • Reveals new approaches to thinking about the problem space
Online Analytical Processing (OLAP)
OLAP refers to a system in which there are predefined multiple instances of various modules used in business applications. Any input to such a system results in verification of the facts with respect to theavailable instances.A nearest match is found analytically and the results displayed form the database. The output is sent onlyafter thorough verification of the input facts fed to the system. The system goes through a series of multiplechecks of the various parameters used in business decision making. OLAP is also referred to as a multidimensional analytical model. Many big companies use OLAP to get good returns in business.The querying process of the OLAP is very strong. It helps the management take decisions like whichmonth would be appropriate to launch a product in the market, what should be the production quantity tomaximize the returns, what should be the stocking policy in order to minimize the wastage etc.A model of OLAP may be well represented in the form of a 3D box. There are six faces of the box. Eachadjoining faces with common vertex may be considered to represent the various parameter of the businesssituation under consideration. E.g.: Region, Sales & demand, Product etc.
Decision Support Systems (DSS)
DSS is an interactive computer based system designed to help the decision makers to use all l the resourcesavailable and make use in the decision making. In management many a time problems arise out of situations for which simple solution may not be possible. To solve such problems you may have to usecomplex theories. The models that would be required to solve such problems may have to be identified.DSS requires a lot of managerial abilities and managers judgment.You may gather and present the following information by using decision support application:Accessing all of your current information assets, including legacy and relational data sources, cubes, data
warehouses, and data martsComparative sales figures between one week and the next
Projected revenue figures based on new product sales assumptions
The consequences of different decision alternatives, given past experience in a context that is described.
Q3.What are Value Chain Analysis & describe its significance in MIS? Explain what is meant byBPR? What is its significance? How Data warehousing & Data Mining is useful in terms of MIS?Answer:-
BPR The existing system in the organization is totally reexamined and radically modified for incorporating thelatest technology. This process of change for the betterment of the organization is called as Business process re-engineering. This process is mainly used to modernize and make the organizations efficient.BPR directly affects the performance. It is used to gain an understanding the process of business and tounderstand the process to make it better and re-designing and thereby improving the system.
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