Decision Support and Systems (Essay Sample)

Decision Support Systems Name Institution Course Instructor Due Date Decision Support Systems Decision support systems (DSS) have been experiencing a progressive evolution structure over the past decades. This evolution has seen them move from simple model -oriented systems, to advanced multifunctional entities. Decision support systems are computer based interactive systems that assist decision makers in solving problems through the use of models created by various data (Sauter, 2019). The problems solved could either be ill-structured, semi-structured or unstructured. Non-technical managers can easily use DSS without facing any major issues. Duties performed using DSS may include searching of specific data and later retrieving and analysing the data that has been searched. Applications and Solutions by Retail Vendors Retail vendors usually offer various applications that bring about solutions to various problems. Such an application includes the bank loan approval system. This developed system aims at establishing whether a loan applicant is in a position to be granted a loan by the bank or whether he or she will be denied the loan. The application has various parameters programmed and it will therefore use them to determine the loan qualifications. Vendors of this application also offer various solutions with regards to its effectivity (Power, 2007). The system that carries out the task has been laid open for more parameters to be coded into it. Therefore, a specific bank institution will have made the task easy for the credit department to decide whether to grant an applicant their loan wish or not. Through the use of such a system, work is being simplified and also perfected. Strength-Weakness Analysis and Cost Considerations Any decision support system always has its strengths as well as weaknesses. Decision systems’ are usually associated with time support. These systems when in use make decisions within the shortest time possible. Also, the decisions being made are in many occasions accurate and therefore have no need for reviews thereafter. Decision support systems also reduce the costs of decision making through its efficiency and limited time in analysing results (Management Study, 2018). DSS’s also offer high competitive analyses in companies through its coordination and reliability. Even though DSS offers numerous advantages, it also presents some disadvantages. The decisions that are made by DSS’s are sometimes products of assumptions. It does not have full facts on the decisions being made. Also, a DSS cannot have all the facts observed as compared to humans who have various angles of looking at things; therefore their decisions may not be accurate. Organizations that rely of DSS for decision making find themselves enslaved to it. They depend on its support on a daily basis and this if not checked can cripple the organization. Example of a DSS A communication driven DSS is an example of a DSS can efficiently provide a competitive advantage to a company. Such a decision support breed is known as group decision support systems (GDSS). With the applicati...