BUS 237 Chapter Notes - Chapter 8: Online Analytical Processing, Online Transaction Processing, Decision Support System

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 237
• Professor: Zorana Svedic

Document Summary

Decision making is chosing from a range of alternatives. Day to day management involves quick decision making. Managers often make satisfactory decisions [temporary decisions until they have more time] Rationality a reational decision making process for making logical decisions. Satisficing a process which searched for good enough option rather than optimum solutions. Bounded rationality analysis that there are cognitive limits to an individuals knowledge and capacity to act rational (herbert. Select one of the alternative: implementation alternative is put into action, review. Factors that make decision making challenging: information overload, data quality, uncertainty and complexity. Information growth is increasing every year- the challenge to find the appropriate data and incorporate the data into their decision- making processes information systems can help this problem. Olap systems are the backbone of all functional, cross-functional and interorganizational systems in a company. They are designed to efficiently enter, process and store data.