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This 4-page paper offers an article analysis about decision-making. Bibliography offers 1 source.
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4 pages (~225 words per page)
File: AS43_MTdecianly.doc
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can spell problems for an organization. This is why theres been so much literature devoted to business decision-making and models. In his article
"Are you ready to reengineer your decision-making?" author Michael Hopkins interviews Thomas Davenport, Presidents Chair in Information Technology and Management at Babson College, about business analytics, pointing out that business
analytics five years ago was dubbed "business intelligence;" and before that, was termed "executive information systems," "decision support" and so on. Regardless of what analyzing and deciding is called, Davenport
points out that reporting focuses on "getting a handle on what has happened in your business," while analytics is "explanatory and predictive," in other words, why something happened and what
might happen in the future. Davenports contention is that analytics was once relegated to the rear of decision-making, with most companies reporting
on the past. But these days, Davenport points out that reengineering decision making involves not just analytics, but also the change in the business culture and leadership. Better data, combined
with a stronger culture, he pointed out, leads to better decision-making. Making good decisions also involves getting information from line and staff. However,
Davenport points out, executives rarely dig beneath the boardroom or executive suite to get the information that can help make those decisions. Davenport uses, as an example, a discussion he
had with an individual who led a decision engineering group at a large computer company. "In all my years here, no executive has ever come to me or my group
and said Help us make better decisions," the individual told Davenport. The executives would occasionally approach this individuals group for helping making faster decisions - but more often than not,
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