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Decision Making: Types, Examples and Different Levels

   

Added on  2022-05-17

6 Pages1284 Words78 Views
Data Science and Big DataArtificial Intelligence
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Tactical decision making
Tactical choices and plans are those that deal with the more precise
implementation of the board of directors' broad strategy, which generally
has a medium-term influence on the organization (lathamdrive, n.d.).
Examples of Tactical decision making
(lathamdrive, n.d.)
The following are examples of tactical positions that need decisions:
A labor force's size and composition.
Strategy for sales and marketing.
Non-disclosure agreements (NDAs) are required to be signed.
Individuals and groups are assigned to certain tasks.
Large purchases must be made within the confines of a budget that
has already been approved.
Operational decision making
Day-to-day decisions that have just a short-term influence on a
corporation are referred to as operational decisions. likewise,
Operational business intelligence (OBI) is described as analytics that is
firmly coupled or embedded inside common business processes, with the
dual aim of assisting operational decision making and monitoring
organizational operations (lathamdrive, n.d.).
Examples of Operational decision making
(lathamdrive, n.d.)
These decisions may include, but are not limited to:
Employee scheduling.
Decision Making: Types, Examples and Different Levels_1

In a company, training on specific jobs is provided (e.g., sales
techniques, computer training, etc.).
Buying office equipment.
Assigning certain personnel to specific tasks.
1.5 BUSINESS INTELLIGENCE FUNCTIONALITIES
To help firms make more data-driven choices, business intelligence (BI)
incorporates business analytics, data mining, data visualization, data
tools and infrastructure, and best practices. In practice, you've got
contemporary business intelligence when you have a holistic perspective
of your company's data and can utilize it to drive change, reduce
inefficiencies, and swiftly adjust to market or supplier changes (tableau,
n.d.).
Business intelligence has developed in recent years to incorporate
additional processes and activities to aid success. These procedures
include the following: (tableau, n.d.)
Data mining
Is the process of discovering patterns in massive datasets by combining
databases, statistics, and machine learning (tableau, n.d.).
Example of data mining
The use of data mining tools in grocery shops is well-known. Customers
may get free loyalty cards from many supermarkets, which allow them
access to discounted pricing that non-members do not have. Stores can
easily track who is buying what, when they are buying it, and at what
price thanks to the cards. After evaluating the data, shops may use it to
offer consumers coupons based on their purchasing behavior and choose
whether to put things on sale vs selling them at full price (Twin, 2021).
Decision Making: Types, Examples and Different Levels_2

Reporting
Stakeholders are given access to data analysis so that they may draw
conclusions and make decisions (tableau, n.d.).
Examples of reporting
(qlik, n.d.)
Stakeholders may also use static reports and alerts to keep on top
of their business and take timely action. Users should be able to
quickly create and distribute static reports in common document
formats, as well as set up data-driven, real-time alerts when KPIs
cross a threshold, using BI software.
Users can share their insights and communicate with other
stakeholders on any device, even if they're offline, by mobile BI.
Given the current state of work, consumers must be able to access
and evaluate their data from any location.
Performance metrics and benchmarking
Using customized dashboards to compare current performance data to
previous data in order to measure performance versus goals (tableau,
n.d.).
Examples of performance metrics and benchmarking
Marketing metrics: Keeping track of digital marketing KPIs may help
your team stay on track month after month. With so many various
marketing channels to choose from, it's critical for marketing teams to
keep track of their accomplishments using the most appropriate and
effective analytics. Metrics and KPIs will differ depending on whatever
channels your team is monitoring (klipfolio, n.d.).
Decision Making: Types, Examples and Different Levels_3

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