Tid 4: decision-making

If businesses used dss, gdss, and ess more widely, would they make better decisions? Why or
why not?

THE VIEWPOINT: AN EPISODE OF DECION-MAKING’ SYSTEMS

At the core, from what I have learned on this topic, DSS, GDSS, and ESS are decision-making
systems that present a unique set of challenges and opportunities. Decision support systems in
industries give tremendous opportunity for managers and employees to improve the precision,
accuracy, and speed with which they make decisions. Consider the overall impact on the
company if these solutions enable all decision-makers to make better decisions. However,
systems that aid decision-making present a number of obstacles, particularly in terms of
developing systems that can genuinely meet executive information requirements; considering as
well the transforming management thinking to make greater use of decision support systems;
and overcoming organizational opposition.

But on my own perspective, the quality of decision-making is becoming increasingly important in

maintaining competitiveness. As a result, corporations frequently make future judgments based
on their own history, prior transactions, and activities. When organizations make decisions, a
decision-support system and firm-wide data are usually beneficial. These systems can automate
certain decision-making processes and provide data on various aspects of the decision-making
situation. They can also assist managers in questioning current decision-making practices. It
can be beneficial to investigate the outcomes of various organizational settings. Using GDSS
can also improve the way groups make decisions, as well as a decision made by an individual.

Until recently, the prospect of evaluating years of transaction data in a single run looked
prohibitively expensive and impractical. The computational needs would have absorbed much of
the company's data processing capacity for days or even weeks, in addition to the issues
caused by data format incompatibilities. The analysis has been restricted to relatively simple
queries done after hours on small subsets of data. Data warehousing has been powered in
recent years by scalable hardware and software technologies, allowing decision makers to
unleash the power of analysis given as a result.

However, keep in mind that these systems do not always lead to improved decisions unless the
problem or situation is well-understood and the systems are well-designed. Furthermore, there
is a chance that the trackers would track the incorrect items and that the company's critical
procedures will be overlooked. At the end, the greatest thing to do is to think about and turn
those potential obstacles and issues into opportunities while ensuring that these systems are
used correctly and perfectly.
Tid 4.a: knowledge management

Describe various ways that knowledge management systems could help firms with sales and
marketing or with manufacturing and production.

A MUST KNOW: KNOWLEDGE MANAGEMENT SYSTEMS IN SALES, MARKETING &

PRODUCTION

In its greatest sense, Knowledge management is the deliberate act of defining, structuring,
retaining, and sharing an organization's employees' knowledge and experience. The primary
purpose of knowledge management is to increase an organization's efficiency while also
preserving its knowledge. It frequently refers to training and learning within a company or
among its customers. To maximize the effectiveness of an organization's collective knowledge,
it consists of a cycle of creating, sharing, structuring, and auditing information.
In the same manner, these systems employ a variety of tools and strategies to improve learning
for the benefit of the company. These systems can be utilized effectively in sales, marketing or
manufacturing systems in the following measures:
Forecasting techniques: A good knowledge management system allows a company to use the
best forecasting technique available. The knowledge management system would look at the
demand trends and variations across time.
Estimating risks and uncertainties: A smart knowledge management system would use
information gathered from a variety of sources to forecast the occurrence of hazards and the
changes they would cause.
Training: Sales and production workers can be trained using the knowledge gathered from
historical data and trends research.
Manufacturing & production: When a corporation has many items being produced in one place,
the knowledge can be used to help route products or the production process in a more
methodical way. Because the information and materials will be more complex.
These are the things I have learned with regards to knowledge management systems that
workers, employees or even us, the students must know that will certainly help us in our future
endeavours.