ITM 100 Lecture Notes - Lecture 12: Predictive Analytics, Pivot Table, Sensitivity Analysis

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 100
• Professor: Raymond Moss

Document Summary

Unstructured decisions are those in which the decision maker must provide judgment, evaluation, and insight to solve the problem. Each of these decisions is novel, important, and nonroutine, and there is no well-understood or agreed-on procedure for making them. Structured decisions are repetitive and routine, and they involve a definite produce for handling them so that they do not have to be treated each time as if they were new. Many decisions have elements from both and are semistructured, where only part of the problem is a clear-cut answer provided by an accepted procedure. Structured decisions are more prevalent at lower organizational levels, while unstructured problems are more common at higher levels of the firm. Middle management faces more structured decision scenarios, but their decisions may include unstructured components. Operational managers and employees tend to make more structured ones. Making a decision is a multistep process described in 4 stages: