11/03/2017
Companies are able to highlight their strengths and weaknesses due to the presence of revenue reports, employees’ performance record etc. The identification of these aspects can help the company improve their business processes and operations.
Information is an important asset for any company in the modern competitive world. The consumer buying trends and behaviours can be predicted by the analysis of sales and revenue reports from each operating region of the company.Giving an overall picture of the company and acting as a communication and planning tool.

2. Decision Support Systems:
A decision support system (DSS) is a computer-based information system that supports business or organizational decision-making activities. DSS’s serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance. Decision support systems can be either fully computerized, human or a combination of both.
Things that would be typically visible in a decision support system:
inventories of information assets (including legacy and relational data sources, cubes, data warehouses, and data marts),comparative sales figures between one period and the next,projected revenue figures based on product sales assumptions.
3 fundamental components in a DSS are:
1. the database, 2. the model, 3. the user interface.
As well, DSS boast many benefits including:
Improves personal efficiencySpeed up the process of decision makingIncreases organizational controlEncourages exploration and discovery on the part of the decision makerSpeeds up problem solving in an organizationFacilitates interpersonal communicationPromotes learning or trainingGenerates new evidence in support of a decisionCreates a competitive advantage over competitionReveals new approaches to thinking about the problem spaceHelps automate managerial processesCreate Innovative ideas to s
