Decision Support or Business Intelligence
A Wall Street Journal article (10/23/07) entitled “Understanding
What You Know” discusses “How Business Intelligence Has Come
of Age,” a hot issue today.
Intuition Is Useful in Business, but it Isn’t Enough
The article says this. My website stresses this. Be sure to see page 5
of the booklet (PDF file).
What Is Business Intelligence?
Professor Tom Davenport of Babson College in Massachusetts describes it
as:
“It’s the systematic use of information about your business
to understand, report on and predict different aspects of performance.
Historically, it has had a number of names. It was called decision support
when I started my career. . .It’s been called business intelligence
for about a decade now.”
Decision Making Theory – Business Intelligence
Here is how my website can aid decision making support and business intelligence:
- It provides advanced knowledge and an improved presentation of
the science of decision making.
- Data usage and date accuracy are helped by using SM-14.
- Analytics and fact-based decision making are improved by using
SM-14.
- It provides for experimenting as a way to learn rather than depending
on gut feeling and unsupported intuition.
- The SM-14 method provides for the use of both qualitative and
quantitative techniques.
- Financial decision making is made more accurately using SM-14.
Summary
Advanced Presentation of Decision Making Knowledge
The knowledge of decision making presented on this website is, on the
whole, not new, being based on the scientific method. However, it represents
reliable knowledge more clearly presented and with a better and more correct
understanding of the relationship of the scientific method and decision
making.
Researchers in the Business Intelligence Field
They should study this website to help advance the science of business
intelligence.
Decision Making Software
At the present time I know of no software that includes the SM-14 model.
It is not copyrighted, so I am hopeful that software designers will soon
include it.
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