Elucidate the impact of it on decision making
Answers
Decision making is one of the most significant and important activities in a business. Decision making involves various processes which are influenced by technology. Information technology provides a business with a Decision support system (DSS) and Artificial intelligence (AI) system, the combination of these IT systems helps you create information through online analytical process (OLAP) to facilitate decision making tasks that might require significant effort and analysis. Technology simplifies the way we make decision in a business.
Roles of technology in decision making:
Data Processing Capabilities: technology will help you make quick business decisions by giving you the ability to slice and dice your way through massive amounts of information. Data warehouse have data mining tools which computerize the process of making decisions.
IT brings speed: Vast amounts of information, and sophisticated processing capabilities will help you create information useful in making a decision. IT provides great power, but you – as the decision maker must know what kinds of questions to ask of the information and how to process the information to get those questions answered.
IT Supports group decision making: A team of employees can use a group decision support system to make quick decisions. A (GDSS) group decision support system is a type of decision support system that facilitates the formulation of and solution to problems by a team. A GDSS facilitates team decision making by integrating, groupware, DSS capabilities, and telecommunications. The more complex, the less structured the decision a team has to make, the more a GDSS can help. Group decision making involves three processes and these include; Brainstorming, Issue categorizing and analysis, Ranking and voting.