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Business Information & Decision Support Systems Flashcards

Business Information & Decision Support Systems Flashcards
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Design Stage (Stage 2) of Decision Making in Organizations
An individual who develops alternative solutions and evaluates their feasibility.
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Predictive Statistics
It helps predict future outcomes based on data. An example would be weather forecasting.
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Descriptive Statistics
It uses measures such as average, sum and others. It also measures a large amount of data.
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Group Decision Support System (GDSS) Tools
Videoconferencing, group scheduling, project management software, and collaborative electronic workspace.
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Functions of Financial Management Information Systems
Combines financial information from multiple sources, provides easy access to summarized financial data, supports financial analysis using easy-to-use tools, and compares financial activity.
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Scheduled Report
A report that is produced on a regular interval. For example, a company may print payroll every Friday at noon.
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Online Analytical Processing (OLAP)
An approach that immediately answers questions that have multiple dimensions.
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Business Intelligence Tools (BI)
This includes database management, decision support systems, data mining, and statistical analysis.
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Decision Support Systems
A specialized information system designed to expedite the decision-making process in businesses.
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Specialized Information System
A type of business intelligence system.
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Flashcard Content Overview

This flashcard set covers the various different decision support systems used to help make decision making more easy and efficient for companies. You will learn the importance of each system and how they are used in business. We also discuss different ways to analyze data for businesses, such as execution reports, inferential statistics, predictive statistics, and scheduled reports. These flashcards will help you differentiate the multiple types of support systems used by companies.

Front
Back
Specialized Information System
A type of business intelligence system.
Decision Support Systems
A specialized information system designed to expedite the decision-making process in businesses.
Business Intelligence Tools (BI)
This includes database management, decision support systems, data mining, and statistical analysis.
Online Analytical Processing (OLAP)
An approach that immediately answers questions that have multiple dimensions.
Scheduled Report
A report that is produced on a regular interval. For example, a company may print payroll every Friday at noon.
Functions of Financial Management Information Systems
Combines financial information from multiple sources, provides easy access to summarized financial data, supports financial analysis using easy-to-use tools, and compares financial activity.
Group Decision Support System (GDSS) Tools
Videoconferencing, group scheduling, project management software, and collaborative electronic workspace.
Descriptive Statistics
It uses measures such as average, sum and others. It also measures a large amount of data.
Predictive Statistics
It helps predict future outcomes based on data. An example would be weather forecasting.
Design Stage (Stage 2) of Decision Making in Organizations
An individual who develops alternative solutions and evaluates their feasibility.
Role of Management Information Systems (MIS)
One of the crucial roles of a management information system is to provide the right information to the right person in the right format at the right time.
Geographic Information System (GIS)
It helps map the locations of places that interst you and examine geographic relationships between these two places.
Executive Informations System (EIS)
This is a specialized decision support system (DSS) for high-level management where they have complete control over decision making.
Business Intelligence System (BIS)
It is a computerized intelligence system that collects, manages and interprets information about a company and its competitors.
Exception Report
It is automatically generated when a situation is unusual and requires something to be fixed or looked at.
Inferential Statistics
A statistic that tries to infer something about the data by finding patterns and relationships in the data.
Marketing MIS
Marketing MIS includes marketing research, product development and delivery, promotion and advertising, product pricing, and sales analysis.
Manufacturing MIS
This MIS is used to monitor the flow of materials and products throughout the organization.
Financial MIS
It provides financial information for managers to make decisions every day on operations within the organization.
Intelligence Stage (Stage 1) of Decision Making in Organizations
An individual who identifies the problem or opportunity and determines the limitations.
Choice Stage (Stage 3) of Decision Making in Organizations
An individual decides on a course of action.

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