Remove Book Remove Business Intelligence Remove Dashboards Remove Uncertainty
article thumbnail

What are decision support systems? Sifting data for better business decisions

CIO Business Intelligence

Decision support systems definition A decision support system (DSS) is an interactive information system that analyzes large volumes of data for informing business decisions. A DSS leverages a combination of raw data, documents, personal knowledge, and/or business models to help users make decisions. ERP dashboards.

article thumbnail

How to Move from Real-Time Data to Real-Time Decisions

CIO Business Intelligence

Hubbard defines measurement as: “A quantitatively expressed reduction of uncertainty based on one or more observations.”. This acknowledges that the purpose of measurement is to reduce uncertainty. And the purpose of reducing uncertainty is to make better decisions. Yet a lot of data still ends up on a dashboard.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Why Analytics Are Essential in Times of Crisis

Sisense

One area they refused to cut, however, was their business intelligence program. BA claimed that a continued investment in analytics during the crisis was a critical factor to streamlining marketing activities and thwarting fraudulent bookings when their business was especially fragile.

article thumbnail

Operational Finance in the Age of Covid-19: Time to Change the Basics?

Jet Global

Not only have finance teams had to close companies’ books remotely, but they’ve also been required to provide the insight and information needed for some extremely complex decision-making, and continuously plan and forecast for events with little or no historical context. Invariably, these activities have seen added stress in 2020.

Finance 98
article thumbnail

Fact-based Decision-making

Peter James Thomas

There is also (as referenced by Neil in his comments above) the delayed booking of transactions in order to – with the nicest possible description – smooth revenues. By the time that people who need to take decisions based on such information are in the loop, the inherent uncertainty of the prediction may have disappeared.

Metrics 49