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Chapter 4

CCT225H5 Chapter Notes - Chapter 4: Satisficing


Department
Communication, Culture and Technology
Course Code
CCT225H5
Professor
Max Evans
Chapter
4

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INTRODUCTION
i.
Signs: customer requests, threat of competition, declining sales, rising costs
1.
Intelligence (find what to fix)find or recognize a problem, need, or opportunity
i.
Develop all possible solutions
2.
Design (find fixes)possible ways to solve a problem, filling the need or taking advantage of
the opportunity
3.
4.
Implementation (apply the fix)carry out the chosen solution, monitor ht results and make
adjustments as necessary
4 distinct phases for decision making
Not necessarily linear
Another model of decision making: Satisficing
Satisficingmaking a choice that meets your needs and is satisfactory without necessarily being
the best possible choice available: combination of satisfied and suffice
i.
No feel or intuition necessary
ii.
Kinds of decisions you can program--certain set of inputs and process them in a precise
way= correct result
iii.
Ex. Calculating gross pay for hourly workers
1.
Structured decisionprocessing a certain kind of information in a specified way so that you
will always get the right answer
i.
No rules or criteria exist that guarantee you a good solution
ii.
Ex. Deciding whether to introduce a new product line, marketing campaign, change
corporate image
iii.
Most decisions, in reality, fall under structured and unstructured; ex. Choosing a job
2.
i.
Ex. Deciding how much inventory to carry, what price to sell it at
3.
i.
Ex. Company mergers, deciding where to build a distribution centre
4.
Nonrecurring/ ad hoc decisionone that you make frequently (perhaps only once), and you
may even have different criteria for determining the best solution each time
4 main types of decisions
Decision Support Systems
IT brings speed, vast amount of information and processing capabilities
You bring: experience, intuition, judgment and knowledge
Decision support system (DSS)a highly flexible and interactive IT system that is designed to
support decision making when the problem is not structured
Components of a Decision Support System
1.
Model management
3 components
Chapter 4: Decision Support and Artificial Intelligence
Monday, April 04, 2011
5:21 PM
CCT225 Page 1

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i.
Models create new info
1.
Model management
i.
Stores info
2.
Data management
i.
Access info and specify models
3.
User interface management
1.
2.
The model requests the information from the data management component, analyzes that
information, and sends the result to the user interface management component, which passes
the results back to you
Process:
Model Management Component
Model management componentconsists of both the DSS models and the DSS model
management system
Model: representation of some event, fact, or situation
Use models to rep variables and their relationships
Models you use in a DSS depend on the decision you're making and, consequently, the kind of
analysis you require
Stores and maintains the DSS's models
Requires YOU to choose which model to use
Helps you create and manipulate models
Data Management Component
Data management componentperforms the function of storing and maintaining the information
that you want your DSS to use
Consists of both the DSS information and the DSS database management system
i.
Design your DSS to access this info directly from your company's databases and data
warehouses
1.
Organizational information
i.
Some decision require input from external sources of information
2.
External information
i.
You can incorporate your own insights and experience-your personal information-into
your DSS
3.
Personal information
The information you use in your DSS comes from one or more of 3 sources:
User Interface Management Component
User interface management componentallows you to communicate with the DSS
Consists of the user interface and the user interface management system
Allows you to combine your know-how with t storage and processing capabilities of the computer
Part of the system you see: through it you enter information, commands and model
Geographic Information Systems
Geographic information system (GIS)is a decision support system designed specifically to analyze
spatial information
Spatial information: any information that can be shown in map form, such as roads, the distribution
of the caribou population, sewer systems, or the path of a hurricane
Used to analyze info, generate business intelligence, and make decisions
Powerful combo of database and graphics technology
Business geographyWhen businesses use GIS software to generate maps showing information of
interest to them
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