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    Question ID:   15012         Current Version: 2
Question: How does IT affect management decision making?
Category: Business & Finance > Other
Keywords: information system, affect, impact, management decision making, IT
Type: how
Rating:(0 ratings)    Views: 169    Discussions: 0   In Watch Lists: 2  

 
    Answer:

A Decision Support System (DSS) is a class of information systems (including but not limited to computerized systems) that support business and organizational decision-making activities. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from a combination of raw data, documents, personal knowledge, or business models to identify and solve problems and make decisions. 

Benefits of DSS

  • Increase problem identification speed
  • Increase decision-making speed
  • Increase the extent of analysis in decision making 
  • Improves personal efficiency
  • Expedites problem solving (speed up the progress of problems solving in an organization)
  • Facilitates interpersonal communication
  • Promotes learning or training
  • Increases organizational control
  • Generates new evidence in support of a decision
  • Creates a competitive advantage over competition
  • Encourages exploration and discovery on the part of the decision maker
  • Reveals new approaches to thinking about the problem space
  • Helps automate the managerial processes.

Sources:

[1] Decision support system, Wikipedia.org

[2] Executive information systems: Their impact on executive decision making, Leidner, Dorothy E.; Elam, Joyce J., Journal of Management Information Systems, Winter 1994, Vol. 10 Issue 3, p139, 17p

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