ENHANCING DECISION MAKING

Decision Making

Business analytics refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.

Chain retailers such as Starbucks, Duane Reade,1-800-Flowers need to determine what products will sell at what prices at different locations.

Business Analytics Software Business analytics software analyzes patterns in sales

data, create pricing profiles and buyer profiles for different regions, locales, even times of day.

Demonstrates the use of business intelligence and analysis systems to improve sales and profits.

Illustrates how information systems improve decision making

Role of Information Systems

Management

Organization

Technology

Business Challenges

Information

Systems

BusinessSolution

s

• Massive volumes of sales transaction data

• Price-sensitive customers• Local differences in taste

• Increase sales• Minimize inventory

• Create pricing profiles

• Create customer profiles

• Develop pricing strategy• Select product mix

• Customize pricing and product mix

• Business intelligence software