DECISION

MAKING &
INFORMATION
SYSTEM
-ARCHIT YADAV
CONTENT
 Introduction
 Role of MIS in Decision Making
 Decision Making Process
 Business Value of Improved Decision Making
 Decision Support System(DSS)

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Introduction

Management information systems can help you make valid decisions by providing
accurate and up-to- date information and performing analytic functions. You have to
make sure the management information system you choose can work with the
information formats available in your company and has the features you need. Suitable
management information systems can structure the basic data available from your
company operations and records into reports to present you with guidance for your
decisions.
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Role Of MIS in Decision Making

1. Information from Company Operations

2. Capability to Run Scenarios

3. Projections to Assist in Decision Making

4. Implementation and Evaluation

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Decision
Making
Process
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Business Value of Improved Decision
Making

Improved decision making is a critical driver of business value as it enables

organizations to make better choices that align with their strategic objectives
and lead to improved business outcomes.

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Here are some of the ways in which improved decision making
can deliver business value:

 INCREASED EFFICIENCY

 BETTER RESOURCE ALLOCATION

 REDUCED COSTS

 IMPROVED CUSTOMER SATISFACTION

 COMPETITIVE ADVANTAGE

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 Decision Support System(DSS)

Decision Support system (DSS) is a computerized program used to support

determinations, judgments, and courses of action in an organization or a business. A
DSS sifts through and analyses massive amounts of data, compiling comprehensive
information that can be used to solve problems and in decision making.

Typical information used by a DSS includes target or projected revenue, sales figures or
past ones from different time periods, and other inventory- or operations-related data

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Process of Decision Support System
1. Data Input: Gathering relevant data from various sources, both internal and external.

2. Data Processing: Analysing and processing data using models, algorithms, and analytical
tools.

3. Knowledge Base: Utilizing a knowledge base to store relevant information, rules, and
decision criteria.

4. User Interface: Providing a user-friendly interface for querying and interacting with the
system.

5. Model Execution: Executing models and simulations to generate insights and scenarios.

6. Results Presentation: Presenting results through reports, dashboards, and visualizations.

7. User Feedback: Gathering feedback from users to improve system performance.

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Thank you