iResearch Analytical Thinking and Decision Making

This paper discusses the importance of implementing AI-based IT applications for monitoring production activity and logistics efficiency in business firms, with a focus on iResearch. It also covers the challenges faced by iResearch, decision analysis, strengths and limitations, and the influence of iResearch engineers.

Running head: IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
iResearch analytical thinking and decision making
Name of the Student
Name of the University
Author’s Note

1IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
2.1. The value of decision analysis within the context of an organisation..................................2
2.2. Challenges faced by iResearch.............................................................................................3
2.3. Applying decision analysis...................................................................................................4
2.5. Strength and limitation of iResearch....................................................................................6
2.6. Influence of the iResearch engineers....................................................................................7
Conclusion.......................................................................................................................................7
References........................................................................................................................................9

2IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
Introduction
The purpose of the paper elaborates the importance for implementing AI based IT
applications for monitoring the productions activity and logistics efficiency of the business firm.
iResearch is an IT based company that will undertake the proposed project for developing web
based or mobile based application software for the smooth functioning operations of the ACME
firm. This paper focuses on the development activity which is undertaken by a development
industry such as iResearch and the challenges that are faced by such firm. There exists different
budgets with different proposal plan.
Discussion
2.1. The value of decision analysis within the context of an organisation
Decision analysis forms the primary key for making a strategic plan phase. It is the
analysis of data and facts that proceed for the decision making phase being it nay nature of the
business. Like in case of ACME industry, the implementation of such analysis software will help
the firm to undertake decisions regarding the logistics and monitoring their activities in terms of
the production. ACME is planning to implement software based application platform within the
industry in order to comply with the proficiency of output.
Decision making analysis is carried out through quantitative as well as utilising qualitative data.
Decision making theory is a management activity which is based upon theories and knowledge
of management science, psychology and economics. A decision taken in a business firm cannot
be overlooked or neglected. Decision making is a constant process, for undertaking a decision a
proper set of facts and data is required based upon the present as well as past performance of the

3IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
business firm operating therein. A reliable and stable platform is necessary for every business
firm to overcome the issue of decision making data availability. A decision is made taking into
consideration the vision of the business firm (Cambini et al. 2018) The value of decision analysis
within the context of an organisation as by iResearch will be, implementation of application
based software such as computerised system will enable the business firm to minimise much of
their errors and rectify it. iResearch company is a quality company who is well known for their
development activities. Better understanding of the business processes will enable iResearch to
create application platform accordingly.
2.2. Challenges faced by iResearch
The firm is confused as of whether to bring forward the proposal in the eye of the ACME
project or not. There are certainties and uncertainties according to the vision of iResearch. There
are four proposed different projects which has different perspective and the firm iResearch has to
evaluate as of which one to carry out. Moreover, the budget factor is also a key challenge for the
iResearch firm. As the business firm ACME has declared a fixed budget within which the project
is required to be carried out. Another problem that is faced by the iResearch firm is that whether
to head for mobile based development or for web based development.
The iResearch development can operate at a single criteria. Both the development need cannot be
fulfilled together. There also exists moderate cost which is not well known by the firm it is just
an estimation of numbers. (Feduzi et al. 2014). There is a need for the development firm to
formulate a proper strategic plan and then arrive at a solution as such that the failure of their
vision may led to entire fail of the development and moreover will cause the entire finance
proposed for the ACME project. The firm need to decide as of among the four proposed plan

4IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
which will be more feasible as failure of one plan will lead to implement another plan but may
not result efficiently. This will in turn reduce the potential return for the proposed project.
2.3. Applying decision analysis
Taking into consideration the decision tree, it is assumed that the software package C is most
favourable for the proposed project. Software package C has the probability of being successful.
However, there also exists an alternative choice as of software D, which is costlier than software
package C. The software package C has the highest probability of being success but only on a
single platform. However, the other two software packages such as software package A and
software package B has lower probability of being success.

5IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
A B C D
Web based= 1,60,500
Mobile based= 1,63,000
Web based= 1,85,825
Mobile based= 1,82,850
Web based= 1,79,625
Mobile based= 1,81,500
Web based= 1,79,025
Mobile based= 1,83,550
Figure: Analysis chart
Source: Created by the researcher
Software Packages

6IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
The favourable cost associated with the development project relies in the choice of software
package C in comparison to four different packages. Although the choice of proposal for
software package has the highest development cost but probability of success is more in package
C and D. The manager should arrive at a decision of selecting any one plan from among the
either of the two different plan. There is a 75% chance that the plan will be favourable for either
web based or mobile based platform, if chosen software package C. In case of software package
D, there is a two probability chances that 45% chance of success if for web based platform and
65% chances are in favour of mobile based platform. Software package A is not acceptable as it
is having more of the development cost associated and probability of the success is very low in
comparison to other proposals. Moreover, software package B is less costly proposal than
proposal A, but chances of being success is less in proposal B. Hence, taking into consideration
the calculation it is estimated that project proposal C should be undertaken.
2.5. Strength and limitation of iResearch
iResearch strengths stand for that the firm has a well-known reputation in terms of
development work. A number of qualities takes place within this firm as such they are capable to
address the needs of the other firm and undertake development accordingly. The firm has the
potential to develop for both platform either for web-based or mobile based. The iResearch team
claims to take forward the proposed project within the estimated budget. A.I. IT has enabled the
data compilation in accordance with a different perspective of the company.
iResearch has made possible the availability of two kinds of data qualitative as well as
quantitative and based upon such two variety of situations can be obtained. However, limitation
of iResearch lies in the fact that much of the company fails to implement the adaptation of such
smart I.T applications. It might be because of a low promotional marketing campaign by

7IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
iResearch. The limitation also takes place in terms of organisation, many business units have this
mentality that they do not require such application to address their future managerial decisions.
However, the firm iResearch has to decide which one to choose from among the two alternative
option available. There exist a rivalry risk, although there is one rival present but the failure in
commitment of proposal will directly lead the project to be carried by another rivalry firm. It is
very obvious that the use of such applications will result in an effective and efficient outcome.
Another fact that the company has mentioned that the application software is suitable either for a
web based platform or mobile-based platform (Hara et al. 2016).
2.6. Influence of the iResearch engineers
Influence of the iResearch engineers, stands at a very critical phase, after analysis it is found that
there is 50% of probability that the software development project of iResearch will be successful
whereas, there is 50% of probability that the iResearch will fail to supply qualitative outcome.
Whereas, a proper implementation of the application is not guaranteed as the case of a hypothesis
takes place. A hypothesis states that the application will be positive whereas, another theory
claims that the product might be a failure in carrying out a management decision. On the other
contrary to the implementation of the software in a business undertaking can severely impact the
business firm if any flow of irrelevant information takes place. The company fails to claim that
the software will bring about success for the company after implementation of such an
application. The application is designed keeping in mind the objective of providing a solution in
undertaking business decisions.

8IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
Conclusion
Lastly, the paper conclude that this report analysis has successfully provided a scenario of
decision making analysis within the context of an organization. This report, also suggested that
gathering qualitative and quantitative facts about the nature of the business operation and various
perspective of decisions, taking time and evaluating each of the prospects yields a qualitative
objective for the company. Moreover, such application like iResearch, integration of such
application will help the senior authority or the manager to arrive at a fact and on the basis of the
fact, with proper implementation of one’s own knowledge, one can arrive at a solution towards
undertaking a future decision. The decision making tree can be implemented for arriving at a
more accurate decision, its practical implementation yields confidence in withstanding with a
particular decision. Thus, with the help of this discussion the importance of decision analysis for
an organization has been demonstrated.

9IRESEARCH ANALYTICAL THINKING AND DECISION MAKING
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