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In business, a decision support system (DSS) is an information system that facilitates decision-making procedures requiring judgment, determination, and a sequence of actions. Provide an overview of the different components of the DSS. What function does DSS play in the transformation of the IT industry?
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- understanding usefulness of “data-driven decision making”. Now consider this from a “business partner” perspective. How could data and metrics help strengthen relationships with their business partners? In other words, what value would this add to the business?Read on about certain examples of how the application of data warehousing concept is applied in several business industries today. Then, answer the following questions below. Application of Data Warehousing Construction The construction firms require data on every purchase made during the construction timeline. This purchase needs to be attributed to a source to make financial decisions. The same goes for the wages of contractual employees. All this data will be recorded in a data store and later used for business intelligence by key decision-makers toestimate the overall spending of the company on a single construction site. HealthcareIn healthcare, these central stores of data are used to record patient information from different units of the medical unit. This would include patient personal information, financial transactions with the hospital, and insurance data. All this is consolidated in the data warehouse and connected through the database schema. RetailFor the retail…Read on about certain examples of how the application of data warehousing concept is applied in several business industries today. Then, answer the following questions below. Application of Data Warehousing Construction The construction firms require data on every purchase made during the construction timeline. This purchase needs to be attributed to a source to make financial decisions. The same goes for the wages of contractual employees. All this data will be recorded in a data store and later used for business intelligence by key decision-makers toestimate the overall spending of the company on a single construction site. HealthcareIn healthcare, these central stores of data are used to record patient information from different units of the medical unit. This would include patient personal information, financial transactions with the hospital, and insurance data. All this is consolidated in the data warehouse and connected through the database schema. RetailFor the retail…
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- Explain the principles of data warehousing and data mining in the context of business intelligence. How do they contribute to data-driven decision-making?How can a financial auditor use the following topic in his future work? perform value chain analysis apply the Strengths, Weaknesses, Opportunities, and Threats (SWOT) framework to formulate strategy recommendations importance of data and analytics strategy, data quality, structured approach for conducting analytics evaluate the output of analytical models using relevant measures of performance creation of value through data and analytics and discuss the ethical issues in analytics.How does mobile device management (MDM) work, and what are its benefits for organizations in managing fleets of mobile devices?