• Title/Summary/Keyword: Data-driven decision making

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Emerging Data Management Tools and Their Implications for Decision Support

  • Eorm, Sean B.;Novikova, Elena;Yoo, Sangjin
    • Journal of Korea Society of Industrial Information Systems
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    • v.2 no.2
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    • pp.189-207
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    • 1997
  • Recently, we have witnessed a host of emerging tools in the management support systems (MSS) area including the data warehouse/multidimensinal databases (MDDB), data mining, on-line analytical processing (OLAP), intelligent agents, World Wide Web(WWW) technologies, the Internet, and corporate intranets. These tools are reshaping MSS developments in organizations. This article reviews a set of emerging data management technologies in the knowledge discovery in databases(KDD) process and analyzes their implications for decision support. Furthermore, today's MSS are equipped with a plethora of AI techniques (artifical neural networks, and genetic algorithms, etc) fuzzy sets, modeling by example , geographical information system(GIS), logic modeling, and visual interactive modeling (VIM) , All these developments suggest that we are shifting the corporate decision making paradigm form information-driven decision making in the1980s to knowledge-driven decision making in the 1990s.

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Are Sequential Decision-Making Processes of Tourists and Consumers the Same?

  • Jung, Oh-Hyun
    • Culinary science and hospitality research
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    • v.23 no.6
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    • pp.161-172
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    • 2017
  • The purposes of this study were to examine if a decision making by a tourist sequentially or hierarchically occurs in a tourism destination and to test determinants that have an effect on both a sequential and non-sequential decision making. An instrument for the study was developed with three steps. A total of 420 and 380 questionnaire were collected respectively for the first two round surveys. For the third step, a pilot test was conducted with 30 respondents. And the data analysis utilized SPSS 18.0. A logistic regression analysis with variables of tourism activity and demography was employed to investigate the factors that affect a sequence of decision-making process. As an important result, the higher the age of the tourist in a tourism destination, the more conspicuous the consumption expenditure is made through the sequential decision-making process. Additionally, it is unreasonable to apply the premises and assumptions in extant consumer behavior to tourist behavior. The process of decision making by tourists in tourism areas is driven by either non-sequential or non-hierarchical decision-making process. More discussion and implications were provided.

A Preliminary Discussion on Policy Decision Making of AI in The Fourth Industrial Revolution (4차 산업혁명시대 인공지능 정책의사결정에 대한 탐색적 논의)

  • Seo, Hyung-Jun
    • Informatization Policy
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    • v.26 no.3
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    • pp.3-35
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    • 2019
  • In the fourth industrial revolution age, because of advance in the intelligence information technologies, the various roles of AI have attracted public attention. Starting with Google's Alphago, AI is now no longer a fantasized technology but a real one that can bring ripple effect in entire society. Already, AI has performed well in the medical service, legal service, and the private sector's business decision making. This study conducted an exploratory analysis on the possibilities and issues of AI-driven policy decision making in the public sector. The three research purposes are i) could AI make a policy decision in public sector?; ii) how different is AI-driven policy decision making compared to the existing methods of decision making?; and iii) what issues would be revealed by AI's policy decision making? AI-driven policy decision making is differentiated from the traditional ways of decision making in that the former is represented by rationality based on sufficient amount of information and alternatives, increased transparency and trust, more objective views for policy issues, and faster decision making process. However, there are several controversial issues regarding superiority of AI, ethics, accountability, changes in democracy, substitution of human labor in the public sector, and data usage problems for AI. Since the adoption of AI for policy decision making will be soon realized, it is necessary to take an integrative approach, considering both the positive and adverse effects, to minimize social impact.

A Neural Network-Driven Decision Tree Classifier Approach to Time Series Identification (인공신경망 기초 의사결정트리 분류기에 의한 시계열모형화에 관한 연구)

  • 오상봉
    • Journal of the Korea Society for Simulation
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    • v.5 no.1
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    • pp.1-12
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    • 1996
  • We propose a new approach to classifying a time series data into one of the autoregressive moving-average (ARMA) models. It is bases on two pattern recognition concepts for solving time series identification. The one is an extended sample autocorrelation function (ESACF). The other is a neural network-driven decision tree classifier(NNDTC) in which two pattern recognition techniques are tightly coupled : neural network and decision tree classfier. NNDTc consists of a set of nodes at which neural network-driven decision making is made whether the connecting subtrees should be pruned or not. Therefore, time series identification problem can be stated as solving a set of local decisions at nodes. The decision values of the nodes are provided by neural network functions attached to the corresponding nodes. Experimental results with a set of test data and real time series data show that the proposed approach can efficiently identify the time seires patterns with high precision compared to the previous approaches.

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Research on Data Preprocessing Techniques for Efficient Decision-Making in Food Import Procedures (식품 수입 절차에서의 효율적 의사결정을 위한 데이터 전처리 기술에 관한 연구)

  • Jae-Hyeong Park;Yong-Uk Song;Ju-Young Kang
    • The Journal of Bigdata
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    • v.8 no.1
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    • pp.61-71
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    • 2023
  • With the development of data-driven decision-making and sophisticated big data processing technique, there is a growing demand for information on how to process data. However, recent studies with data preprocessing mentioned only as a means to achieve a result. Therefore, in this study, we aimed to write in detail about the data processing pipeline, include preprocessing data. In particular, we shares the context and domain knowledge to aid fluent understand of the research.

A Priority Analysis of Card Customer Churn Factors Using AHP : Focusing on Management Support, Card Recruitment, Customer Service Personnel's Perspective (AHP를 이용한 카드고객 이탈 요인의 우선순위 분석 : 경영지원·카드모집·고객서비스 집단을 중심으로)

  • Lee, Jungwoo;Song, Young-gue;Han, Chang Hee
    • Journal of Information Technology Services
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    • v.20 no.4
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    • pp.35-52
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    • 2021
  • Nowadays data-based decision making is emerging as the center of the business environment paradigm, but many companies do not have data-driven decision-making systems. It has also been studied that using an expert's intuition in decision making can be more efficient in terms of speed and cost, compared to analytical decision making. The goal of this study is to analyze customer churn factors using a group of experts within a financial company from the viewpoint of decision-making efficiency. We applied a debit card 'A', product of the National Credit Union Federation of Korea. The churn factors of all the financial expert groups were examined. Also. the difference in each group (management support, card recruitment, customer service group) was analyzed. We expect that this study will be helpful in the practical aspects of managers whose environments is lack data-oriented infrastructure and culture.

Data-Driven Approaches for Evaluating Countries in the International Construction Market

  • Lee, Kang-Wook;Han, Seung H.
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.496-500
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    • 2015
  • International construction projects are inherently more risky than domestic projects with multi-dimensional uncertainties that require complementary risk management at both the country and project levels. However, despite a growing need for systematic country evaluations, most studies have focused on project-level decisions and lack country-based approaches for firms in the construction industry. Accordingly, this study suggests data-driven approaches for evaluating countries using two quantitative models. The first is a two-stage country segmentation model that not only screens negative countries based on country attractiveness (macro-segmentation) but also identifies promising countries based on the level of past project performance in a given country (micro-segmentation). The second is a multi-criteria country segmentation model that combines a firm's business objective with the country evaluation process based on Kraljic's matrix and fuzzy preference relations (FPR). These models utilize not only secondary data from internationally reputable institutions but also performance data on Korean firms from 1990 to 2014 to evaluate 29 countries. The proposed approaches enable firms to enhance their decision-making capacity for evaluating and selecting countries at the early stage of corporate strategy development.

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BoxBroker: A Policy-Driven Framework for Optimizing Storage Service Federation

  • Heinsen, Rene;Lopez, Cindy;Huh, Eui-Nam
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.12 no.1
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    • pp.340-367
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    • 2018
  • Storage services integration can be done for achieving high availability, improving data access performance and scalability while preventing vendor lock-in. However, multiple services environment management and interoperability have become a critical issue as a result of service architectures and communication interfaces heterogeneity. Storage federation model provides the integration of multiple heterogeneous and self-sufficient storage systems with a single control point and automated decision making about data distribution. In order to integrate diverse heterogeneous storage services into a single storage pool, we are proposing a storage service federation framework named BoxBroker. Moreover, an automated decision model based on a policy-driven data distribution algorithm and a service evaluation method is proposed enabling BoxBroker to make optimal decisions. Finally, a demonstration of our proposal capabilities is presented and discussed.

Leveraging LLMs for Corporate Data Analysis: Employee Turnover Prediction with ChatGPT (대형 언어 모델을 활용한 기업데이터 분석: ChatGPT를 활용한 직원 이직 예측)

  • Sungmin Kim;Jee Yong Chung
    • Knowledge Management Research
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    • v.25 no.2
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    • pp.19-47
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    • 2024
  • Organizational ability to analyze and utilize data plays an important role in knowledge management and decision-making. This study aims to investigate the potential application of large language models in corporate data analysis. Focusing on the field of human resources, the research examines the data analysis capabilities of these models. Using the widely studied IBM HR dataset, the study reproduces machine learning-based employee turnover prediction analyses from previous research through ChatGPT and compares its predictive performance. Unlike past research methods that required advanced programming skills, ChatGPT-based machine learning data analysis, conducted through the analyst's natural language requests, offers the advantages of being much easier and faster. Moreover, its prediction accuracy was found to be competitive compared to previous studies. This suggests that large language models could serve as effective and practical alternatives in the field of corporate data analysis, which has traditionally demanded advanced programming capabilities. Furthermore, this approach is expected to contribute to the popularization of data analysis and the spread of data-driven decision-making (DDDM). The prompts used during the data analysis process and the program code generated by ChatGPT are also included in the appendix for verification, providing a foundation for future data analysis research using large language models.