Businesses and Decision Support Systems

A decision support system (DSS) is a structured information system which supports organizational or business decision-making activities. DSSs help individuals make decisions about complex problems which are rapidly evolving and not typically easily defined in advance. DSSs are usually based on complex mathematical models such as the theory of utility, but may also be grounded in real-life problem solving techniques such as those used in the field of marketing. This article focuses on the technology infrastructure behind DSSs, describing different components and how they interact to support business decision making.

Knowledge Base: A knowledge base is a repository containing typically not only business-relevant information but also non-business-relevant information about the chosen domain. The goal of any decision support system is to build a robust, searchable knowledge base, allowing for easy searching of relevant data. An example of a knowledge base might be a website that provides basic information about health care. The website owner, in conjunction with an expert system such as Electronic Medical Record (EMR) software, can use an existing knowledge base to build on that base and create new information, as well as indexing and categorizing that information for future use.

Domain Specific Language (DSL): A DSL is a subset of the logical language. One type of DSL is domain specific, which describes the rules for expressing domain-specific information in the programming language. Domain-specific languages enable one to make decisions without having to worry about a surface-level understanding of the language, as is the case with many static typing languages. Another example of a domain-specific language is XML, which is a universal language that allows communication over the Internet.

Decision Support Software’s Role In Enterprise Architecture: When it comes to enterprise architecture, the role of decision support systems in the information system design and implementation process is particularly important. Enterprise architectures typically include a number of different internal applications and processes. In some cases, external applications are implemented as part of the business logic, while in other cases, the implementation is done through specialized third party applications. Regardless, however, decision making is a critical function in any enterprise architecture and decision support systems to help decision makers make informed decisions about which application and process to use, when to implement them, and how to track their progress over time. Without this critical functionality, businesses risk being unable to implement their business logic quickly and efficiently.

Decision Support Software’s Benefits For Businesses Of All Types: As previously mentioned, a decision support system is a key tool for assisting business decision makers make decisions. However, a decision support system can be applied to almost any type of business. For example, a small business with just a few employees would not usually need to pay for a full system to automate the entire process, nor would a medium sized company or a larger corporation with thousands of employees make the expense. Small and medium-sized businesses would be able to purchase commercial tools that automate much of the decision making process, if they wanted to. Large companies, however, may choose to invest in more expensive decision support systems, in order to customize the tools to their specific needs. Regardless, a business cannot afford to ignore decision support software.

How Does a Decision Support System Work? The core decision making process begins by collecting and analyzing large volumes of data. This data is stored in a decision support system’s database. One of the most common tools for this task is a predictive analytics tool. Using a predictive analytics tool, a computer-based system can analyze the data, looking for patterns and anomalies.

Once the analysis has been conducted, the software can provide a number of visual reports, allowing decision makers to view the data and formulate reasonable decisions based on the information. One of the primary benefits of using a predictive decision support systems is that it provides “model-driven decision support systems.” This means that the model is what drives the results. As a result, changes in the underlying real world market, economy, or environmental conditions may not have any significant affect on the decisions made by a business owner. Rather, these determinations are based completely on models developed by the software.

Beyond simply allowing a business owner to make better informed decisions, there are many other benefits to implementing decision support systems. Many companies that use them recognize that they improve decision making, and that they also speed up decision completion. These factors all combine to allow businesses to make more efficient and better decisions, allowing them to increase their profitability and employee satisfaction. In essence, these tools are an investment in the future of business, allowing decision makers to make better informed decisions and take care of their businesses in the long run.