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Dan Power

Greetings to all of my friends who work in the area of computerized decision support. This blog is a way for me to share stories from my encounters related to decision support, to comment on industry events, and to comment on other blogger's comments, especially those of my friends on the Business Intelligence Network. I'll try to state my opinions clearly and provide an old professor's perspective on how computers and information technology are changing the world. Decision making has always been my focus, and it will be in this blog as well. Your comments, feedback and questions are welcomed.

About the author >

Daniel J. "Dan" Power is a Professor of Information Systems and Management at the College of Business Administration at the University of Northern Iowa and the editor of DSSResources.com, the Web-based knowledge repository about computerized systems that support decision making; the editor of PlanningSkills.com; and the editor of DSS News, a bi-weekly e-newsletter. Dr. Power's research interests include the design and development of decision support systems and how these systems impact individual and organizational decision behavior.

Editor's Note: More articles and resources are available in Dan's BeyeNETWORK Expert Channel. Be sure to visit today!

August 2012 Archives

by Dan Power
Editor, DSSResources.com

Companies are implementing predictive analytics and quantitative models to assist managers. There remain however important knowledge gaps about how to implement analytics and especially predictive analytics and model-driven decision support. In general, analytics refers to quantitative analysis of data. Analytics may be part of a data-driven or a model-driven DSS. Predictive analytics is about using models for predicting behavior or results. Predictive analytics can help managers make choices and develop competitive actions. 

Continue reading at http://dssresources.com/faq/index.php?action=artikel&id=246

appeared in DSSNews Vol. 13, No. 16, August 19, 2012

Posted August 21, 2012 8:38 AM
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by Dan Power
Editor, DSSResources.com 

Most managers want to make fact-based decisions. Many large organizations have implemented database systems called data warehouses to organize facts for timely retrieval. Some organizations have implemented business intelligence (BI) systems based upon earlier management and executive information systems (EIS). BI refers to extracting, analyzing and distributing data from corporate databases to support decision making. For many years, the prospects and problems of providing managers with timely management information have been discussed and debated (cf., Dearden, 1966). Overall managers and information systems specialists seem interested in learning more about new types of data-driven decision support systems. So the debate about costs, advantages, problems and possibilities for data-driven decision support must continue. This discussion answers 14 important questions related to BI and data-driven decision support. 

Please continue reading at http://dssresources.com/faq/index.php?action=artikel&id=247

appeared in DSSNews Vol. 13, No. 15, August 5, 2012

Posted August 5, 2012 7:23 AM
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