DSS in business - better decision making

In today’s business world we are constantly making decisions, who to hire, who to fire, what to spend and how to spend it. Managers are spending their time analyzing reports and trying to figure out ways to increase sales, assign quotas to their sales reps and put a strategy in place to hit those sales numbers. It is imperative that the correct decisions are made and in some cases they need to be made quickly, that is not always easy to do. Often times we are not fortunate enough to have the gift of time to put a strategy and plan together in order to get things done. Using a decision support system to analyze your business can help make this process a smoother one. Decision Support Systems - DSS - are a specific class of computer-based information systems that support your decision-making activities. A decision support system analyzes business data and provide interactive information support to managers and business professionals during the decision-making process, from problem recognition to implementing your decision. Decision Support Systems use (1) Analytical models, (2) specialized databases, (3) a decision maker’s own insights and judgments, and (4) an interactive, computer-based modeling process to support semi-structured business decisions [1] As an option for these companies there are decision support software systems available for businesses. The software available for decision support systems allow businesses and managers to work smarter and more efficiently. One example of this software is called Vanguard. The Vanguard System™ is a comprehensive business solution for improving the quality, reliability, and speed of management decisions. It does this by helping you collaborate with colleagues on important plans, analyze alternatives using state-of-the-art modeling and simulation techniques, automate routine decisions using expert system technology, and Improve overall management effectiveness by adding structure to a normally chaotic process. [2] Using a DSS software will improve your company’s overall business by now being able to take data that is already available but potentially not being utilized the way it could be. This software basically takes all of that data and turns it into valuable information that can now be used to make smarter decisions. The widespread use of computer technology has changed the way companies do business. Information technology has altered relationships between companies and their suppliers, customers and rivals. Porter and Millar (1985) discuss two specific ways that information technology can affect competition: by altering industry structures and by supporting cost and/or differentiation strategies. [3] In closing using decision support systems in business will improve decision making on all levels. Using this system is changing the way companies are doing business by having the ability to use old data and analyze it, It will give you a competitive advantage over other corporations all while saving the company money. 1. http://www.targit.com/en/landingpages/decisionsupportsystem/dss 2. http://www.vanguardsw.com/solutions/application/decision-support/ 3. http://www.b-eye-network.com/view/6501