Final #2

Describe or Define DSS?

Answer: A Decision Support System (DSS) is an interactive computer-based system or subsystem intended to help decision makers use communications technologies, data, documents, knowledge and/or models to identify and solve problems, complete decision process tasks, and make decisions. Decision Support System is a general term for any computer application that enhances a person or group’s ability to make decisions. Also, Decision Support Systems refers to an academic field of research that involves designing and studying Decision Support Systems in their context of use. In general, Decision Support Systems are a class of computerized information system that support decision-making activities.

Distinguish MIS from DSS

Answer: MIS (management information systems) provide information about its business operations. It's also used to refer to the people who manage these systems. Refers to a central or centrally-coordinated system of computer expertise and management, often including mainframe systems but also including by extension the corporation's entire network of computer resources. While DSS is intended to help decision makers use communication technologies, data, documents, knowledge and/or models to identify and solve problems, complete decision process tasks, and make decisions.

Illustrate (give examples) how DSS can improve company's competitive advantage and organizational performance.

Answer: One example is the Clinical decision support system for medical diagnosis. Other examples include a bank loan officer verifying the credit of a loan applicant or an engineering firm that has bids on several projects and wants to know if they can be competitive with their costs.
DSS is extensively used in business and management. Executive dashboard and other business performance software allow faster decision making, identification of negative trends, and better allocation of business resources.
A specific example concerns the Canadian National Railway system, which tests its equipment on a regular basis using a decision support system. A problem faced by any railroad is worn-out or defective rails, which can result in hundreds of derailments per year. Under a DSS, CN managed to decrease the incidence of derailments at the same time other companies were experiencing an increase.
DSS has many applications that have already been spoken about. However, it can be used in any field where organization is necessary. Additionally, a DSS can be designed to help make decisions on the stock market, or deciding which area or segment to market a product toward.
Benefits of DSS
Ø Improves personal efficiency
Ø Expedites problem solving
Ø Facilitates interpersonal communication
Ø Promotes learning or training
Ø Increases organizational control
Ø Generates new evidence in support of a decision
Ø Creates a competitive advantage over competition
Ø Encourages exploration and discovery on the part of the decision maker
Ø Reveals new approaches to thinking about the problem space