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    Solving Decision Making Problems

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    Problem:

    - Identify a real-world decision-making problem that is appropriate for a decision support system or expert system.
    - Give a brief description of the overall project.
    - Describe the specific problem to be solved.
    - Describe the business setting in which it occurs.

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    https://brainmass.com/business/business-policy-and-implementation/solving-decision-making-problems-35759

    Solution Preview

    (P.S : answer is attached in brainmass.doc file)

    - Identify a real-world decision-making problem that is appropriate for a decision support system or expert system.
    A Decision Making Process for Bank Credit Evaluation Under Risk

    The Decision-making problem in loan evaluation and its risk appraisal are one of the most important and difficult tasks in credit management by banks and other financial institutions. The usual difficulties in banking and financial environment :
    1. Many types of borrows for vary periods and for a variety of reasons
    2. Have a vary in liquidity and risk
    3. Assessing involves making judgment based on uncertain data.
    4. Uncertainty of outcome exists.
    5. Disagreement among decision makers sometimes occurs (e.g. recommendations to the loan committee are frequently modified or even reversed after debate).
    Three different objective which banks and financial institutions try to attain in their business loan decisions:
    1. minimizing risk to the bank
    2. maximizing the bank's profit
    3. maximizing the bank's service to its community
    It is one of ...

    Solution Summary

    This solution helps solve decision making problems.

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