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Hub You - Decision Support Systems, Part 4 – DSS Evolution
4 Things Your Clients Want From Your CompanySure, all clients are different. They have different kinds of strengths, weaknesses, cultures and goals. Even what blocks their efficiency and growth (blind spots) is different. Davis, Kingsley & Company has conducted hundreds of interviews and there are four strong themes that always emerge. >Additional business processes are selected to be monitored. The data warehouse is extended with facts on the additional business processes New ways to analyze and drill down on the enriched data New reports which combine data from different process areas (drill across mechanism) are developed Insurance Underwriting Jobs – Could You Be An Underwriter?Insurance underwriting derives from the Lloyd’s of London insurance market in London, United Kingdom. The basics of underwriting are a process used to assess the process of providing access to insurance. The term ‘underwriting’ was for financial backers who would accept some of the ri The evolution path of a DSS system, varies according to the priorities of each Business. Development and maturity stages of a DSS system, are the following: - Initially, certain critical business processes are selected to be monitored vis-?-vis their performance
- a data quality mechanism is developed. In order to produce quality information, quality input data are needed.
- A data warehouse which can produce multidimensional views of the selected business processes, is implemented
- Standard business process performance reports, are developed
- Tools for the analysis of multidimensional data (OLAP tools) and the ad-hoc analysis of data, are used
- Predictive models on areas of interest are developed
If a Business aims at developing predictive capability to support the evaluation of future actions, it shall prioritize the development of such models, even without the implementation of a data warehouse, just by using files or data extracted from operational systems. All DSS functionality categories are developed and matured, as the Business evaluates the benefit derived of each investment: - Processes to extract data from operational systems, mature and become more automated
- Additional business processes are selected to be monitored. The data warehouse is extended with facts on the additional business processes
- New ways to analyze and drill down on the enriched data
- New reports which combine data from different process areas (drill across mechanism) are developed
< Secrets To Halving Your Business Electricity BillsWhen it comes to electricity, small and medium size enterprises can never assume they are getting a good deal. In fact, it's safe to say that - as the market stands today - businesses should assume the opposite is true, and that they are being taken for a ride by the big six energy providers. One of developed. In order to produce quality information, quality input data are needed.- A data warehouse which can produce multidimensional views of the selected business processes, is implemented
- Standard business process performance reports, are developed
- Tools for the analysis of multidimensional data (OLAP tools) and the ad-hoc analysis of data, are used
- Predictive models on areas of interest are developed
If a Business aims at developing predictive capability to support the evaluation of future actions, it shall prioritize the development of such models, even without the implementation of a data warehouse, just by using files or data extracted from operational systems. All DSS functionality categories are developed and matured, as the Business evaluates the benefit derived of each investment: If a Business aims at developing predictive capability to support the evaluation of future actions, it shall prioritize the development of such models, even without the implementation of a data warehouse, just by using files or data extracted from operational systems. All DSS functionality categories are developed and matured, as the Business evaluates the benefit derived of each investment: - Processes to extract data from operational systems, mature and become more automated
- Additional business processes are selected to be monitored. The data warehouse is extended with facts on the additional business processes
- New ways to analyze and drill down on the enriched data
- New reports which combine data from different process areas (drill across mechanism) are developed
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4. Get the essential gear and tion of a data warehouse, just by using files or data extracted from operational systems. All DSS functionality categories are developed and matured, as the Business evaluates the benefit derived of each investment: - Processes to extract data from operational systems, mature and become more automated
- Additional business processes are selected to be monitored. The data warehouse is extended with facts on the additional business processes
- New ways to analyze and drill down on the enriched data
- New reports which combine data from different process areas (drill across mechanism) are developed
>Additional business processes are selected to be monitored. The data warehouse is extended with facts on the additional business processes- New ways to analyze and drill down on the enriched data
- New reports which combine data from different process areas (drill across mechanism) are developed
- Quality of predictive models (the ability to produce a sufficient level of prediction) is evaluated based on the business results. Models are improved based on the feedback received.
- Predictive capability on new business areas is developed
At the same time, a new culture on information quality and information driven decision making, is cultivated. The Business is gradually deriving more value from the DSS system, given that:- quality of data stored in the data warehouse is gradually improving
- larger subject areas are supported by the DSS
- a higher number of Users is accessing and using the information which is produced
- information is gradually perceived as more reliable and a single version of truth is gradually achieved
Copyright 2006 – Kostis Panayotakis
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