Decision Making
Decision Making
Making
To succeed in business today, companies need information systems that can support
the diverse information and decision-making needs of their managers and business
professionals.
emphasizes that the type of information required by decision makers in a company
is directly related to the level of management decision making and the amount of
structure in the decision situations they face.
Strategic Management. Typically, a board of directors and an executive committee
of the CEO and top executives develop overall organizational goals, strategies,
policies, and objectives as part of a strategic planning process. They also monitor
the strategic performance of the organization and its overall direction in the
political, economic, and competitive business environment.
Tactical Management. Increasingly, business professionals in self-directed teams
as well as business unit managers develop short- and medium-range plans,
schedules, and budgets and specify the policies, procedures, and business objectives
for their subunits of the company. They also allocate resources and monitor the
performance of their organizational subunits, including departments, divisions,
process teams, project teams, and other workgroups.
Online analytical processing enables managers and analysts to interactively examine and manipulate
large amounts of detailed and consolidated data from many perspectives. OLAP involves analyzing
complex relationships among thousands or even millions of data items stored in data marts, data
warehouses, and other multidimensional databases to discover patterns, trends, and exception
conditions.