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Chapter 8

Chapter 8.docx

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Simon Fraser University
CRIM 101
Kamal Masri

Chapter 8 What Are the Challenges Managers Face in Making Decisions?  “Management Misinformation Systems” by Russell Ackoff – suggested erroneous assumptions made about IS and how it affected managerial decision making.  Bad decisions due to too many uncertainties and complexities  Information Overload o Petabyte – 1000 TB o 403 petabytes created in 2002, same amount as all printed material ever written o Data grows at 30% a year  3.3 exabytes by 2010 o Data is important because if made available to right people at right time, then it can improve decision making  Difficulty lies with trying to find the right data and incorporating it into decision making o IS helps and makes difficult at same time (creates data)  Data Quality o Dirty Data  Incorrect or useless data o Missing values o Inconsistent Data  May arise due to things changing over time (ie. Old address and new addresses) o Data not integrated o Wrong Granularity  Too fine  Fine = Very inclusive of many precise details, which may not be necessary  Preferred over coarse data (can sum and combine to make coarser)  Not fine enough  Highly summarized o Too much data  Too much attributes  Too many data points  Clickstream data – customer clicking behaviour What is OLTP and How Does It Support Decision Making  Online Transaction Processing (OLTP) – Collecting data electronically and processing the transactions online o Can be processed and updated in  Choice is dependent on needs of company  Real time  Cost more  Harder to implement  Ex. Ticket vendors  Batch processing o Backbone of all functional, cross functional, interorganizational systems o Efficiently enter, process, store data, combine large databases with efficient input devices such as store scanners, cash registers, debit/credit card readers o Provide raw information about transaction/status for an organization What Are OLAP and the Data Resource Challenge?  Data resource challenge – Finding a way to use collected data in a way that improves decision making  Systems that make OLTP data useful is called decision support systems (DSS)/Online Analytic Processing (OLAP) o Has ability to sum, count, average, perform other simple arithmetic operations on groups of data o Format is dynamic – readers can change report structure o Measures  Data of interest  Ie. Purchase date, customer type,etc o Dimensions  Report is displayed as “cube” o “Drill down” – further dividing data into more detail  DBMS products are capable of creating OLAP but aren’t design for such work  use OLAP servers to perform OLAP analyses What are BI Systems and How Do They Provide Competitive Advantage?  Business Intelligence (BI) System – System that provides information for improving decision making. o Very in characteristics/capabilities  level of competitive advantage o Reporting Systems  Integrate/process data by sorting, grouping, summing, formatting  Produce, administer, deliver reports  Improves decisions by providing relevant, accurate, timely information to the right person o Data mining system  Use sophisticated statistical techniques to find/predict patterns and relationships  Improve decisions by discovering patterns and relationships in data to predict future outcomes  Market basket analysis – determines which items are frequently purchased together o Knowledge Management Systems  Share knowledge of products, product uses, best practices, etc, among emp
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