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Automated Decision Support
Automated Decision Support, or ADS, systems are rule-based systems that are able to automatically provide solutions to repetitive management problems.Turban, Leidner, McLean and Wetherbe, 2007 ADSs are very closely related to business informatics and business analytics. Automated decision support systems are based on business rules. These business rules can be created or operated by the business analytics. The business rules can trigger a decision that is part of the business informatics. ADSs are most useful in situations that require solutions to repetitive problems mostly using electronically available information. The required knowledge and relevant decision criteria must be very clearly defined and structured. The problem situation at hand must be clear and well understood. Components to ADSs are also provided by software development companies. The following components are provided: * Rules engines * Mathematical and statistical algorithms * Industry-specific packages * Ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule-based System
In computer science, a rule-based system is used to store and manipulate knowledge to interpret information in a useful way. It is often used in artificial intelligence applications and research. Normally, the term ''rule-based system'' is applied to systems involving human-crafted or curated rule sets. Rule-based systems constructed using automatic rule inference, such as rule-based machine learning, are normally excluded from this system type. Applications A classic example of a rule-based system is the domain-specific expert system that uses rules to make deductions or choices. For example, an expert system might help a doctor choose the correct diagnosis based on a cluster of symptoms, or select tactical moves to play a game. Rule-based systems can be used to perform lexical analysis to compile or interpret computer programs, or in natural language processing. Rule-based programming attempts to derive execution instructions from a starting set of data and rules. This is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Analytics
Business analytics (BA) refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning. In other words, business intelligence focusses on description, while business analytics focusses on prediction and prescription. Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, repor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rules Engine
A business rules engine is a software system that executes one or more business rules in a runtime production environment. The rules might come from legal regulation ("An employee can be fired for any reason or no reason but not for an illegal reason"), company policy ("All customers that spend more than $100 at one time will receive a 10% discount"), or other sources. A business rule system enables these company policies and other operational decisions to be defined, tested, executed and maintained separately from application code. Rule engines typically support rules, facts, priority (score), mutual exclusion, preconditions, and other functions. Rule engine software is commonly provided as a component of a business rule management system which, among other functions, provides the ability to: register, define, classify, and manage all the rules, verify consistency of rules definitions (”Gold-level customers are eligible for free shipping when order quantity > 10” and “ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Algorithms
In mathematics and computer science, an algorithm () is a finite sequence of rigorous instructions, typically used to solve a class of specific problems or to perform a computation. Algorithms are used as specifications for performing calculations and data processing. More advanced algorithms can perform automated deductions (referred to as automated reasoning) and use mathematical and logical tests to divert the code execution through various routes (referred to as automated decision-making). Using human characteristics as descriptors of machines in metaphorical ways was already practiced by Alan Turing with terms such as "memory", "search" and "stimulus". In contrast, a heuristic is an approach to problem solving that may not be fully specified or may not guarantee correct or optimal results, especially in problem domains where there is no well-defined correct or optimal result. As an effective method, an algorithm can be expressed within a finite amount of space and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Workflow Application
A workflow application is a software application which automates, to at least some degree, a process or processes. The processes are usually business-related but can be any process that requires a series of steps to be automated via software. Some steps of the process may require human intervention, such as an approval or the development of custom text, but functions that can be automated should be handled by the application. Advanced applications allow users to introduce new components into the operation. For example, consider a purchase order that moves through various departments for authorization and eventual purchase. The order may be moved from department to department for approval automatically. When all authorizations are obtained, the requester of the purchase order is notified and given the authorization. A workflow process may involve frequent maintenance. For example, the normal approver of purchase orders may be on vacation, in which case, the application will reques ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automated Decision-making
Automated decision-making (ADM) involves the use of data, machines and algorithms to make decisions in a range of contexts, including public administration, business, health, education, law, employment, transport, media and entertainment, with varying degrees of human oversight or intervention. ADM involves large-scale data from a range of sources, such as databases, text, social media, sensors, images or speech, that is processed using various technologies including computer software, algorithms, machine learning, natural language processing, artificial intelligence, augmented intelligence and robotics. The increasing use of automated decision-making systems (ADMS) across a range of contexts presents many benefits and challenges to human society requiring consideration of the technical, legal, ethical, societal, educational, economic and health consequences. Overview There are different definitions of ADM based on the level of automation involved. Some definitions suggests ADM ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Support System
A decision support system (DSS) is an information system that supports business or organizational decision-making activities. DSSs serve the management, operations and planning levels of an organization (usually mid and higher management) and help people make decisions about problems that may be rapidly changing and not easily specified in advance—i.e. unstructured and semi-structured decision problems. Decision support systems can be either fully computerized or human-powered, or a combination of both. While academics have perceived DSS as a tool to support decision making processes, DSS users see DSS as a tool to facilitate organizational processes. Some authors have extended the definition of DSS to include any system that might support decision making and some DSS include a decision-making software component; Sprague (1980)Sprague, R;(1980).A Framework for the Development of Decision Support Systems" MIS Quarterly. Vol. 4, No. 4, pp.1-25. defines a properly termed DSS as f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Decision Management
Decision management, also known as enterprise decision management (EDM) or business decision management (BDM) entails all aspects of designing, building and managing the automated decision-making systems that an organization uses to manage its interactions with customers, employees and suppliers. Computerization has changed the way organizations are approaching their decision-making because it requires that they automate more decisions, to handle response times and unattended operation required by computerization, and because it has enabled "information-based decisions" – decisions based on analysis of historical behavioral data, prior decisions, and their outcomes. Overview Decision management was described in 2005 as an "emerging important discipline, due to an increasing need to automate high-volume decisions across the enterprise and to impart precision, consistency, and agility in the decision-making process". Decision management is implemented "via the use of rule-based sy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Rules
A business rule defines or constrains some aspect of business. It may be expressed to specify an action to be taken when certain conditions are true or may be phrased so it can only resolve to either true or false. Business rules are intended to assert business structure or to control or influence the behavior of the business. Business rules describe the operations, definitions and constraints that apply to an organization. Business rules can apply to people, processes, corporate behavior and computing systems in an organization, and are put in place to help the organization achieve its goals. For example, a business rule might state that ''no credit check is to be performed on return customers''. Other examples of business rules include requiring a rental agent to disallow a rental tenant if their credit rating is too low, or requiring company agents to use a list of preferred suppliers and supply schedules. While a business rule may be informal or even unwritten, documenting the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DeSanctis, Gerardine
Gerardine L. (Gerry) DeSanctis (January 5, 1954 – August 16, 2005) was an American organizational theorist and information systems researcher and Thomas F. Keller Professor of Business Administration at Duke University, known for her work on group decision support systems and automated decision support Biography DeSanctis received degrees in psychology, a bachelor's from Villanova University and master's from Fairleigh Dickinson University. In 1982, she was granted a doctorate in management, with a focus on organizational behavior and information systems, from the Rawls College of Business at Texas Tech University. DeSanctis joined the Fuqua School of Business at Duke University in 1992,"Professor Gerardine "Gerry" DeSanctis. (Duke University) Obituary." in: ''OR/MS Today''. April 1, 2006. where from 2001 to 2005 she was Professor of Business Administration at Duke University. She lectured in Duke's Global Executive MBA Program. She has been Visiting Professor at the Delft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
