Belga, Mark Bien J.

BSBA_BM CO-43

20 TERMS

1. Decision Support System (DSS)- an information system that supports business or

organizational decision-making activities. It is used in timely problem-solving to improve
efficiency and streamline operations, planning, and company management. DSS can either be
completely computerized or powered by humans

2. Traditional DSS- The decisions made in this DSS are based on the past which relies on
historical data that has no ability to drive real-time decisions.

3. Modern DSS- While the traditional DSS uses historical data Modern DSS uses new tools and
processes that allow a state of continuous intelligence with analytics that delivers a piece of
real-time information.

4. Predictive Analysis- refers to the statistical data to make predictions about future outcomes
based on data. These will help guide the decision-making to improve efficiency and identify
opportunities.

5. Perspective Analysis- It uses advanced tools and processes to analyze data and will
recommend what should we do in a situation, or it will give the best optimal course of action.

6. Model Management- Companies usually develops KPIs in order to evaluate performance

against goal and measures improvement over time. The company uses this information to make
guided decisions. It can be considered that having models provides the company with
consistency that will help to attain success.

7. Key Performance Indicator (KPI)- it is a quantifiable measure of performance over time for
a specific objective. It provides the company with a target to achieve while maintaining the
milestone attained to gauge the progress of the company. It can also be used for better
decision-making.

8. Metrics- It measures the day-to-day activities of the business that supports the company's
KPI.
9. Organizational Data or Knowledge Base- The raw data must be transformed into clean,
accurate, and up-to-date information. The source data is replicated and ingested then stored in a
data lake or data warehouse using Governed Data Catalog

10. User Interface- There might be some cases in which you are being indulged in a lot of data
therefore it is necessary to have a user-friendly way to consume data. The User Interface has a
completely digital dashboard with tables, graphs, and tools needed to present information.

11. Digital Dashboard- It is a business tool that allows managers and executives to track the
data and analyze it to make a report on the performance. It provides an easy way to combine data
from multiple sources and analyze the data directly.

12. Communication Driven DSS- Allows companies to support tasks that require more than
one person to collaborate on a task.

13. Model Driven DSS- Allows access to and the management of financial, organizational, and
statistical models with the support of DSS software solutions. Data is collected and determined
using the information given by the users. It will be used to analyze situations.

14. Knowledge Driven DSS- Uses the company data knowledge, facts, procedure, or pre-coded
data to deliver an informed solution and specialized solutions to different scenarios.

15. Document Driven DSS- Manages unstructured information in various electronic formats in
company systems such as Data Asset Management solutions.

16. Data Driven DSS- Helps the company to save and analyze internal and external data.

17. Descriptive Analytics- is a statistical method that is used to search and summarize historical
data to identify patterns such as Sales, inventory, and revenue-related figures.

18. Diagnostic Analytics- It is the approach used to uncover the reasoning behind certain data
results providing the rationale from which to make go-forward decisions.

19. Business Intelligence- Provides useful information used to assist important decisions. It
evaluates and identifies services that are meaningful, cost-effective, and efficient.

20. Automated Machine Learning (AutoML)- It allows the user to quickly apply machine
learning across the organization as it is referred to as a tool and processes which make it easy to
build, train, and, deploy custom machine learning.