response for batool
Decision Support Systems Discussion
There are several factors that continue to shape the evolving needs for Analytics and Decision Support in the landscape of decision -making. The first factor is data volume. Most businesses today rely on ‘big data,’ which help them to analyze market trends and make informed decision (Phillips-Wren et al., 2021). The data is gathered, and processed, and then meaningful insights is extracted from their analysis to inform choices. The second factor is technology advancements, such as in computing power, cloud computing, and storage solutions. These have made it possible for businesses to access complex analytics tools and platforms. This has made it easier for organizations to adopt decision-making processes that are data-driven. The third factor is competitive pressure. Today’s business environment is very competitive, and therefore organizations must make decisions swiftly to gain a competitive advantage. Analytics and decision support systems enable businesses to identify opportunities and also respond to challenges in an effective way.
Three technologies that are commonly used for decision support include the following:
• Artificial Intelligence (AI) and Machine Learning (ML.
• Data Warehousing and Business Intelligence (BI) Tools.
• Prescriptive Analytics.
response for batoolDecision Support Systems DiscussionThere are several factors that continue to shape the evolving needs for Analytics and Decision Support in the landscape of decision -making. The first factor is data volume. Most businesses today rely on ‘big data,’ which help them to analyze market trends and make informed decision (Phillips-Wren et al., 2021). The data is gathered, and processed, and then meaningful insights is extracted from their analysis to inform choices. The second factor is technology advancements, such as in computing power, cloud computing, and storage solutions. These have made it possible for businesses to access complex analytics tools and platforms. This has made it easier for organizations to adopt decision-making processes that are data-driven. The third factor is competitive pressure. Today’s business environment is very competitive, and therefore organizations must make decisions swiftly to gain a competitive advantage. Analytics and decision support systems enable businesses to identify opportunities and also respond to challenges in an effective way.Three technologies that are commonly used for decision support include the following:• Artificial Intelligence (AI) and Machine Learning (ML.• Data Warehousing and Business Intelligence (BI) Tools.
• Prescriptive Analytics.
