Information required at different management levels

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Information required at different management
levels
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Attributes of Information Quality
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Information Systems to support decisions
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Decision Tree Example

• Property Investment

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How do chess programs work?

• Play chess against a computer

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Chess computer plays white
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Works backwards best move for white
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Black will choose worst move for White
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Who will win the basketball game?

• You are in the office pool, currently betting on
  the outcome of the basketball game next week,
  between the MallRats and the Chinooks. You have
  to decide which team will win, then bet on that
  team. Of course, you could just guess, or flip a
  coin. Here we present a way that (typically) will
  do better by using observations about the past
  performance of the teams.

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You have tracked

• the name of the opponent
• was the game at Home or Away, and
• was the starting time 5pm, 7pm or 9pm.
• you also note some of the "coaching decisions"
• Did Fantastic Fred (FF) start the game or come
  in off the bench
• Did Joe play center (in the MallRat offense), or
  did he play power forward.
• Did Joe guard the opponent's center, as opposed
  to one of the opponent's forwards.
• You also note whether that opponent's center was
  tall (over 6'9") or not,
• who won the game.

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So who will win?
Run the Decision Tree Analysis
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Decision Support Systems

• DSS
• Provide interactive information support to
  managers and business professionals during the
  decision-making process
• Use
• Analytical models
• Specialized databases
• A decision makers own insights and judgments
• Interactive computer-based modeling
• To support semistructured business decisions

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The Ethics of Classification

• University admissions on the basis of
  classification
• Case handout.

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Using DSS

• What-if Analysis
• End user makes changes to variables, or
  relationships among variables, and observes the
  resulting changes in the values of other
  variables
• Sensitivity Analysis
• Value of only one variable is changed repeatedly
  and the resulting changes in other variables are
  observed

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Using DSS

• Goal-Seeking
• Set a target value for a variable and then
  repeatedly change other variables until the
  target value is achieved
• How can analysis
• Optimization
• Goal is to find the optimum value for one or more
  target variables given certain constraints
• One or more other variables are changed
  repeatedly until the best values for the target
  variables are discovered

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Whats college worth to you?

• Is a degree really worth it?  Imagine you were
  advising your younger cousin who recently
  graduated from High School, and who is
  considering whether or not to go to college.  Use
  your knowledge of university life, to design a
  model which allows your friend to enter estimates
  of their costs and benefits, and provide a
  recommendation of the whether or not they should
  go to college.  You will need to calculate
  projected costs and benefits and suggest a
  criterion for judging whether a degree is worth
  it for your cousin
• Criteria for worth it
• DSS Model Outputs
• Input Assumptions

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DSS in property investment

• Example of DSS for a residential property
  builder.  Click here.

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Geographic Information Systems

• GIS
• DSS that uses geographic databases to construct
  and display maps and other graphics displays
• That support decisions affecting the geographic
  distribution of people and other resources
• Often used with Global Position Systems (GPS)
  devices