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lecture 4

Uploaded by

Siddharth Singh
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© © All Rights Reserved
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INSTITUTE-USB

DEPARTMENT-BBA
Bachelor Of Business Administration
Business Analytics (22BAT-264)
Instructor: Mr. Sushil Mehta

Business Analytics (22BAT-264)Operation Research(BAT-308)


DISCOVER . LEARN . EMPOWER
Operation Research(BAT-308)
Business Analytics
Course Outcome
CO Title Level
Number
Understand
CO1 To demonstrate the concepts and methods of
business analytics and their role in business and
society
To apply data processing tools for exploratory Application
CO2 analysis an to demonstrate its effectiveness to
diverse audience

To enhance the analytical skills of students by Analyze


CO3
providing the knowledge of various analytical
software and tools

To evaluate analytical solutions for assessing their Evaluate


CO4
effectiveness in contemporary business world

To build the expertise in delivering practical Application


CO5 https://www.or.tum.de/en/home/
solutions for complex business problems
Decision Support System (DSS)
• Definition: Decision Support Systems are computer-based tools that help
people make better decisions by providing information, analysis, and insights.
They're like smart assistants that assist in solving problems and making choices.

• Role in Aiding Decision-Making:


Information Source: DSS gather and organize information from various sources,
turning raw data into something useful.
Analysis and Insights: They analyze this information to find patterns, trends,
and important details that humans might miss.
Scenario Evaluation: DSS can also show what might happen in different
situations, helping decision-makers understand the potential outcomes of their
choices.
Contribution to Organizational Efficiency and Effectiveness:

• Faster Decisions: DSS speeds up the decision-making process by


providing quick access to relevant information. It's like having all the
needed facts at your fingertips.
• Better-Informed Choices: By offering insights and analysis, DSS helps
decision-makers understand the implications of their choices, leading to
better-informed decisions.
• Adaptability: Organizations can use DSS to adapt to changes in the
business environment. It's like having a guide that helps you navigate
through uncertainties.
• Resource Optimization: DSS aids in optimizing resources by suggesting
efficient strategies and highlighting areas where improvements can be
made.
 Executive Information Systems (EIS):
• An Executive Information System (EIS) is a specialized type of
management information system designed to support the informational
needs of top-level executives in an organization.
• EIS provides a consolidated view of key performance indicators, critical
metrics, and relevant data to assist executives in strategic decision-making.
Functions of EIS:
• Data Aggregation
• Visualization
• Alerts and Notifications
• Drill-Down Capabilities
• Integration with External Data
Benefits of EIS
• Strategic Decision Support
• Time Savings
• Improved Communication
• Proactive Management
• Enhanced Accountability
Digital Dashboards:
• Digital dashboards are user interfaces that display key metrics and
data points in a visual format. They often work in conjunction with
EIS, providing an interactive and customizable display of information.
Functions of Digital Dashboards:
• Customization: Digital dashboards allow executives to customize the display
to show the most relevant information for their roles or specific decision-
making needs.

• Real-time Updates: Dashboards provide real-time updates, ensuring that


executives have the latest information at their fingertips.

• Interactivity: Executives can interact with the dashboard, selecting different


metrics, time periods, or parameters to tailor the information they receive.

• Performance Tracking: Dashboards track and display key performance


indicators, allowing executives to monitor progress toward organizational goals.
THANK YOU

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