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ChapterEleven

Improving Decision Making and Managing Knowledge

QuestionAnswer
Artificial intelligence (AI) it is computer based systems that attempt to emulate human behavior and through patterns.
Augmented reality is related technology for enhancing visualiztion.
Balanced scorecard method Framework for operationalizing a firm's strategic plan by focusing on measurable outcomes of four dimensions of firm performance: financial, business process, customer, and learning and growth
Business performance method (BPM) is a set of key performance indicators developed to measure progress toward the targets.
Case-based reasoning it is the knowledge and past experiences of human specialists are represented as cases and stored in databases for later purposes.
Choice consists of choosing among solution alternatives .
Data visualization tools such as rich graphs, charts, dash boards and maps.
Design involves identifying and exploring various solutions to the problems.
Digital asset management systems helps classify store and distribute digital objects.
Drill down the ability to move from high level summary to more detailed view.
Enterprise content management systems have capabilities for knowledge capture, storage, retrieval, distribution and preservation to help firms improve business process and decisions.
Enterprise-wide knowledge management systems are general purpose firm wide management systems that collect store , distribute and apply digital content and knowledge.
Expert systems captures human expertise in a limited domain of knowledge as a set of rules in a software system that can be used by others in the organization.
Fuzzy logic is a rule based technology that represents such imprecision by creating rules that use approximate or subjective values.
Generic algorithms are useful for finding the optimal solution for a specific problem by examining a very large number of alternative solutions for that problem.
Geographic information systems (GIS) tools that help decision makers visualize problems that benefit from mapping.
Group decision-support systems (GDSS) are interactive computer based systems that facilitate the solution of unstructured problems by a set of decision makers working together as a group in the same location or in different locations.
Implementation involves making the chosen alternative work and continuing to monitor how well the solution is working.
Inference engine it is the strategy used to search through the collection of rules and formulate conclusions.
Intelligence consists of discovering, identifying and understanding the problems occurring in the organization.
Intelligent agents are software programs that work in the back g round without direct human intervention to carry out specific, repetitive and predictable tasks for an individual user, business process or software or software aapplication.
Intelligent techniques it consists of expert systems, case based reasoning, genetic algorithms, neural networks, fuzzy logic and intelligent agents.
Investment workstations is used to leverage the knowledge and time of its brokers, traders, and portfolio managers.
Key performance indicators (KPIs) the measures proposed by senior management for understanding how well the firm is performing along any given dimension.
Knowledge base it is a expert system model human knowledge as a set of rules.
Knowledge management refers to set of business process developed in an organization to create, store, transfer and apply knowledge.
Knowledge work systems (KWS) are specialized systems for engineers, scientists and other knowledge workers that are designed to promote the creation of knowledge and ensure that new knowledge and technical expertise are properly integrated into the business.
Learning management systems (LMS) provides tools for the management, delivery, tracking and assessment of various types of employees learning and training.
Location analytics the ability to gain business insight from the location component of data.
Massive open online course (MOOC) An online course made available via the web to very large numbers of participants allowing learners to collaborate with each other, watch short videos, and participate in threaded discussion groups
Neural networks are used for solving complex poorly understood problems for which large amounts of data have been collected.
Operational intelligence decisions that deal with how to run business on a day to day basis.
Pivot table Spreadsheets having multidimensional analysis are called pivot table.
Predictive analytics uses statistical analysis, data mining techniques , historical data and assumptions about future conditions to predict future trends and behavior patterns.
Semistructured decisions only a part of the problem has a clear cut answer provided by an accepted procedure.fbalan
Sensitivity analysis it asks what if questions repeatedly to predict a range of outcomes when one or more variables are changed multiple times.
Structured decisions are repetitive and routine and they involve a definite procedure for handling them so that they do not have to be treated each time as if they were new
Structured knowledge is explicit knowledge that exists in formal documents as well as in formal rules that organizations derive by observing experts and their decision making behaviors.
Tacit knowledge Knowledge that is understood or implied without being stated; rarely written down
Unstructured decisions are those in which the decision maker must provide judgement, evaluation, and insight to solve the problem.
Virtual Reality Modeling language (VRML) are virtual reality applications developed for the web use
Virtual reality systems use interactive graphics software to create computer generated simulations that are so close to reality that users almost believe they are participating in a real world situation.
Semi-structured decisions When many decisions have elements of both unstructured and structured decisions, only part of the problem has a clear-cut answer provided by an accepted procedure
Robotics Deals with the design, construction, operation, and use of movable machines that can substitute for humans along with computer systems for their control, sensory feedback, and information processing
Natural language processing technology that makes it possible for a machine to understand spoken or written words expressed in human (natural) language and to process that information
Machine learning Study of how computers can improve their performance without explicit commands programmed by humans by training algorithms to learn patterns from previous data and examples provided by humans
Computer vision systems Deal with how computers can emulate the human visual system to view and extract information from real-world images
Chatbots Software agents designed to stimulate a conversation with one or more human users via textual or auditory methods
Created by: TroyIS3310