iResearch Analytical Thinking and Decision Making

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