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Every day each and every one of us makes decisions in our lives. The human mind is an incredibly powerful tool for processing raw data and converting this data into actionable information for the decision-making process. From decisions as simple as whether to buy eggs and sausage and cook your own breakfast in the morning or visiting a fast food chain to get pre-prepared food, to whether or not you run a yellow light in your car and risk an accident at an intersection are considered on a daily basis. Some decisions are simple preferences; others are of great consequence and are life and death decisions.
Likewise, businesses must make decisions on a daily basis. Whether to purchase more raw goods, whether to hire or lay off personnel... should prices be increased or decreased... should a competitive company be bought, or should a division of the company be "spun off" are all examples of common business decisions.
These decisions can't be made by a simple toss of a coin! Many elements, like competitive intelligence, market conditions, interest rates, and manufacturing efficiencies, must be considered on a daily basis by operations personnel and management. Like many decisions people make in their personnel lives, decisions made by corporations are indeed "life and death decisions". Making well-informed decisions can help ensure the health and survival of a business.
Today's business environment is an increasingly complex playing field... this is where Decision Support Systems come into play! Decision Support Systems help ensure that the decision makers in a company have the right information to help them make informed business decisions.
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