I’ve seen several decision making models with certain parts of revenues, costs, intangible data. Revenue, cost and business performance categories are extracted and presented in decision models. They are placed into kind of new environment, decision trees and workflows, specialized structures for decision models. I don’t like them! Problem is that this decision making models I’ve seen are partial.
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What Is A Decision? What is a business intelligence based decision?
Decision is a made choice between options, alternatives.
“Decide – to arrive at a solution that ends uncertainty or dispute”
A high quality decision should come with guarantee but not of certain outcome but with a warranty that the used porocesses to arrive to
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Unreliable data meaning reports with and unknown errors. Errors are not so to say obvious but subtly, they are obvious when data are compared. In other words unreliable meaning inconsistent and non-consolidated data. Process of data preparation is not reliable due to poorly made definitions. If first item…
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Well, decision making can be made upon several sets of information: experience, feeling, corporate information (business intelligence) and market information (marketing intelligence). All together should serve to enhance decision making, decision intelligence and to create competitive intelligence.
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Whenever strategic management decision making process needs new data from existing company information systems it should be implemented quickly and information provided easily. But is it really so? Problem is that every new requirement for information details might face limitations in data models in production systems or data warehousing.
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With current technology it is possible to make very powerful and intelligent decision system but current technology (software, methods, know-how and hardware, procedures and etc.) is not stuffed with right methodology/concept that can provide best decision system for drilling deep into corporate knowledge and information base without clutter effect. Not being stuffed with right technology means to have built-in methods and concepts in application core. If application is not built on targeted method, application
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