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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 * Ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Rule-based System
In computer science, a rule-based system is a computer system in which domain-specific knowledge is represented in the form of rules and general-purpose reasoning is used to solve problems in the domain. Two different kinds of rule-based systems emerged within the field of artificial intelligence in the 1970s: * Production systems, which use ''if-then rules'' to derive ''actions'' from ''conditions''. * Logic programming systems, which use ''conclusion if conditions rules'' to derive ''conclusions'' from ''conditions''. The differences and relationships between these two kinds of rule-based system has been a major source of misunderstanding and confusion. Both kinds of rule-based systems use either forward or backward chaining, in contrast with imperative programs, which execute commands listed sequentially. However, logic programming systems have a logical interpretation, whereas production systems do not. Production system rules A classic example of a production rule-b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Business Informatics
Business informatics (BI) is a discipline combining economics, the economics of digitization, business administration, accounting, internal auditing, information technology (IT), and concepts of computer science. Business informatics centers around creating programming and equipment frameworks which ultimately provide the organization with effective operation based on information technology application. The focus on programming and equipment boosts the value of the analysis of economics and information technology. The BI discipline was created in Germany (in German: Wirtschaftsinformatik). It is an established academic discipline, including bachelor, master, diploma, and PhD programs in Austria, Belgium, Egypt, France, Germany, Hungary, Ireland, The Netherlands, Russia, Slovakia, Sweden, Switzerland, and Turkey, and is establishing itself in an increasing number of other countries as well, including Finland, Australia, Bosnia and Herzegovina, Malaysia, Mexico, Poland, India and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Business Analytics
Business analytics (BA) refers to the skills, technologies, and practices for 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 metrics to both measure past performance and guide business planning. In other words, business intelligence focuses 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, reporting, online ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Business Rule
A business rule defines or constrains some aspect of a 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] [Amazon] |
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 “maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Algorithms
In mathematics and computer science, an algorithm () is a finite sequence of mathematically 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 use conditionals to divert the code execution through various routes (referred to as automated decision-making) and deduce valid inferences (referred to as automated reasoning). In contrast, a heuristic is an approach to solving problems without well-defined correct or optimal results.David A. Grossman, Ophir Frieder, ''Information Retrieval: Algorithms and Heuristics'', 2nd edition, 2004, For example, although social media recommender systems are commonly called "algorithms", they actually rely on heuristics as there is no truly "correct" recommendation. As an effective method, an algorithm can be expressed within a finite amount of space and time"Any classic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Workflow Application
A workflow application is a software application that 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 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 automatically routed from one department to another for approval. Once all necessary authorizations are obtained, the requester of the purchase order is notified and granted the necessary authorization. A workflow process may involve frequent maintenance. For example, the usual approver of purchase orders may be on vacation, in which case, the applica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Automated Decision-making
Automated decision-making (ADM) is 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 may involve 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 inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Enterprise Decision Management
Decision management refers to the process of designing, building, and managing automated decision-making systems that support or replace human decision-making in organizations. It integrates business rules, predictive analytics, and decision modeling to streamline and automate operational decisions. These systems combine business rules and potentially machine learning to automate routine business decisions and are typically embedded in business operations where large volumes of routine decisions are made, such as fraud detection, customer service routing, and claims processing. Decision management differs from decision support systems in that its primary focus is on automating ''operational'' decisions, rather than solely providing information to assist human decision-makers. It incorporates technologies designed for real-time decision-making with minimal human intervention. Historical background The roots of decision management can be traced back to the expert systems and mana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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 Duke University is a Private university, private research university in Durham, North Carolina, Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
