from DSSResources.com

Decision Support News
D. J. Power, Editor
October 28, 2018             Vol. 19, No. 22


In this issue

1) What is the decision support information demand and supply equilibrium?
2) Recent Decision Support News Headlines
3) Upcoming Decision Support Conferences/Call for Papers

Check Power, D., C. Heavin, J. McDermott & M. Daly (2018), "Defining business analytics: an empirical approach," Journal of Business Analytics, 1:1, 40-53, DOI: 10.1080/2573234X.2018.1507605 . Link to this article at https://doi.org/10.1080/2573234X.2018.1507605.


1) What is the decision support information demand and supply equilibrium?

by Daniel J. Power

At equilibrium the demand for decision support data and information equals the supply. In this era of low cost "big data", the equilibrium quantity demanded is very large. Economic theory can help understand decisions made by managers within a firm about decision support and analytics. Decision support data and information is a subset of all data and information obtained, stored and created within organizations. Decision support information is intended for use in managerial and organizational decision making. For some managers, the demand for decision support data and information is impossible to satisfy, it is unbounded and limitless, other managers are more realistic and assess the cost of obtaining and producing an information "good". Acquiring and analyzing more data has a cost. Economic concepts like supply and demand and marginal cost and marginal return can help understand the trade-offs that must be contemplated even though internal data acquisition and processing decisions are not market based. These fundamental concepts can serve as analogies or metaphors that improve our analysis.

Continue reading this column at http://dssresources.com/faq/index.php?action=artikel&id=424

Click for more Frequently Asked Questions

2) Recent Decision Support Headlines

10/25/2018 Full speed ahead for Artificial Intelligence, robotics, and digital factory markets. Check release.

10/25/2018 Developers fail to embrace low-code and no-code platforms. Check release.

3) Upcoming Decision Support Conferences

1. DSI 2018 Annual Meeting November 17-19, 2018 in Chicago, IL. Check http://dssresources.com/faq/index.php?action=artikel&id=415.

2. Pre-ICIS SIGDSA Event, December 12-13, 2018 in San Francisco, California, USA. The theme is Decision Analytics Connecting People, Data, and Things at URL https://preicis2017sigdsa.wordpress.com/

3. Call for Papers: ICDSST 2019, May 27-29, 2019, Madiera, Portugal. Check http://dssresources.com/news/5024.php. Deadline submission of full papers: 30 November 2018.

4. Call for Papers: Special issue Journal of Decision Systems on Cognitive Bias, Decision Styles and Risk Attitudes. Check call. Deadline: December 30, 2018.

5. Call for articles Journal of Business Analytics, an official journal of the Operational Research Society. The journal serves the emerging and rapidly growing community of business analytics both in academia and industry. Check https://www.tandfonline.com/toc/tjba20/current.

Sponsors

Order Daniel Power and Ciara Heavin's book: Decision Support, Analytics, and Business Intelligence, Third Edition, Click here

Become a Business Expert Press author
Click here

New book: Power, D. and C. Heavin, Data-Based Decision Making And Digital Transformation, Business Expert Press, 2018 at URL Click here. EBook Price $19.95, Print Price $34.95, In Stock June 10, 2018.

Power & Heavin (2018) argue "Digital disruption is accelerating. Implementing a successful digital transformation strategy requires that senior managers make trade-off decisions to reinvent a business. Equally important all decision makers must learn to ask the right questions, use data and computer support in decision making, and increase their knowledge and skills. Creating a data-centric culture and rewarding data-based decision making leads to successful digital transformation."

Subscription

You may leave the DSS News mailing list by sending an email to dssnews+unsubscribe@uni.edu

Please tell your friends they may join the list by sending an email to djpower1950@gmail.com

About Decision Support News

Decision Support News is copyrighted (c) 2018 by D. J. Power.

Please send your questions to djpower1950@gmail.com.

Connect with Daniel J. Power at http://www.linkedin.com/in/danpower

The DSS News mailing list is hosted by the University of Northern Iowa in the spirit of cooperation with the network community. The opinions expressed by contributors do not necessarily reflect those of the University or its employees. The University shall not be liable for any damages which may result directly or indirectly from errors or omissions in or application of information distributed via this group. Thanks to University of Northern Iowa.

Thanks for supporting Decision Support News (aka DSS News) and DSSResources.com.


DSS Home |  About Us |  Contact Us |  Site Index |  Subscribe | What's New
Please Tell 
Your Friends about DSSResources.COM Copyright © 1995-2015 by D. J. Power (see his home page). DSSResources.COMsm is maintained by Daniel J. Power. Please contact him at djpower1950 at gmail.com with questions. See disclaimer and privacy statement.