There are various computer applications business owners can use for assistance in daily operations. Decision support systems are one of the most useful programs. They organize business data and present it in a way that makes it easy to analyze. For example, these systems can combine sales figures from two different weeks, enabling you to analyze any changes. You are probably a business owner wondering, “what is a decision support system?” Allow this post to answer your questions. Here is a guide to decision support systems, the modern think tank.
Decision support systems gather various types of raw data that allow you to identify trends and issues. One common data type is asset information. You can access information on your current assets as well as data marts, relational data sources and data warehouses. This information is vital to making business decisions. It allows you to keep track of your finances, and acts as a measure of your financial health. You can then compare this data with sales and expense figures to make decisions depending on your company’s worth. Data retention and organization are key elements to answering “What is a decision support system?”
Sales Figure Comparisons
Comparative sales figures are one of the most important figures offered by decision support systems. These figures pull weeks of sales information and compare them side by side. Comparative analysis allows you to identify trends in business activities. It also recognizes positive or negative changes. You can use this information to consider new marketing tactics or initiate changes to your product line. You can also use it to calculate new revenue projections based on sales assumptions. Sales data and comparative features are an important part of decision support systems.
Types of DSS
There are several different types of decision support systems. Each one is aimed at specific members of your company. Communication-driven systems, for example, are aimed at internal teams. They help with collaborative efforts through instant chats, client servers and online meeting systems. Data-driven DSSs are aimed primarily towards managers and product suppliers. They involve databases that are used to check for proper data incorporation. This is typically done through main-frame systems or the internet. Decision support systems come in several varieties that target different individuals. Knowing this is an important part of answering “what is a decision support system?”
Use And Availability
Decision support systems used to be available mainly through bulky server systems. With the advancements in technology, they are now available through various devices. Simple software like Style Intelligence can run on almost any computer. Some software is available on mobile devices, as well. This means that you can monitor your business information from anywhere in the world. You can analyze your data and make decisions with increased efficiency. Decision support systems are easily accessible and available on various platforms.
Support Not Replace
It is important to remember that DSS is not supposed to replace decision making analyses. Instead, it should be used as support for the traditional analysis involved in decision making. DMS helps avoid the technical implementation details of whichever decision making method you use. This allows you to focus on fundamental value judgements, instead. Before using DSS software, you should be entirely familiar with your decision making methodology and with all the options you are presented with. For example, if you need help selecting a franchising business model, you should be familiar with all the different types of business models available. Use DMS software as a support, not a replacement, in order to get the most out of it.
What is a decision support system? Well, a decision support system is a useful tool for any business owner. These systems collect important business data, such as sales figures and asset information. You can analyze this data to measure your company’s financial health and make decisions based on the results for everything from picking community service ideas to deciding on marketing campaigns. Decision support software is available on various platforms and rarely costs much money. Evaluate the attributes laid out in this post and consider using a decision support system for your business.
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