1. Do the tools help only in certain situations such as routine, daily or rather mundane decisions, like cost controls, quality controls or staffing questions (in term of number of people needed)?
2. How can analysis tools help the finance or accounting arms of a company more so than operations managers? (For example, do computers really think? Do they learn from their mistakes? Can they manipulate or change their environment?)
3. What happens if the data entered is wrong?© BrainMass Inc. brainmass.com March 4, 2021, 11:28 pm ad1c9bdddf
Do the tools help only in certain situations such as routine, daily or rather mundane decisions, like cost controls, quality controls or staffing questions (in term of number of people needed)?
Analysis tools cover a wide range of procedures that are designed to test or inquire about results of a proposed plan, or to test the results of a plan that is or was in operation. To determine the success of a plan will decide what kind of tools can be used. Many tools are available before a proposed plan is even adopted and the comment by your coworkers stating that "Using the right analysis tool will compensate for inexperienced managers" could pertain to a new plan or evaluation of an existing plan.
The first point is that tools are not limited to cost calculations or sales forecasts. Tools can have a much wider range for discussion about plans or results. The more important point is whether the tools can be effective as a possible substitute for ...
In a 623 word solution, the concepts are discussed in detail.