Define Business Performance Management and how DSS relates the Business Performance Management.
Explain how Knowledge Management benefits organizations.
What techniques and tools are used in data mining?
What are the benefits to an organization of artificial intelligence? Provide an example.
How are intelligent agents used on the Internet?
How are Management Support Systems integrated into business processes?
"Define Business Performance Management and how DSS relates the Business Performance Management. "
- Business performance management (BPM) is a set of processes that help organizations optimize their business performance. It is a framework for organizing, automating and analyzing business methodologies, metrics, processes and systems that drive business performance
BPM involves consolidation of data from various sources, querying, and analysis of the data, and putting the results into practice.
BPM enhances processes by creating better feedback loops. Continuous and real-time reviews help to identify and eliminate problems before they grow. BPM's forecasting abilities help the company take corrective action in time to meet earnings projections. Forecasting is characterized by a high degree of predictability which is put into good use to answer what-if scenarios. BPM is useful in risk analysis and predicting outcomes of merger and acquisition scenarios and coming up with a plan to overcome potential problems.
Decision support systems (DSS) is a tool categories commonly used for business performance management. This tool category eases the work, which involves gathering and analyzing large amounts of unstructured data.
"Explain how Knowledge Management benefits organizations. "
- Here is a short list of benefits:
* Globalization and competition - many organizations rely on knowledge to create their strategic advantage. With available knowledge widely dispersed and fragmented, organizations often waste valuable time and resources in 'reinventing the wheel' or failing to access the highest quality knowledge and expertise that is available.
* Knowledge can command a premium price in the market - Applied know-how can enhance the value (and hence the price) of products and services. Examples are the 'smart drill' that learns how to extract more oil from an oil field, and the hotel chain that knows your personal preferences and so can give you a more personalized service.
* Restructuring and downsizing - Without effective mechanisms in place to capture ...