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10-*How expert systems have been used in business
decision-making situationsIdentify how neural networks, fuzzy
logic, genetic algorithms, virtual reality, and intelligent agents
can be used in business
Question 10
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10-*Big Bazaar Decision Support in BusinessBig Bazaar have
invested in data-driven decision support application frameworks to
help them respond toChanging market conditionsCustomer needsThis is
accomplished by several types ofManagement informationDecision
supportOther information systems
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10-*Levels of Managerial Decision Making
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10-*Decision StructureStructured (operational)The procedures to
follow when decision is needed can be specified in
advanceUnstructured (strategic)It is not possible to specify in
advance most of the decision procedures to followSemi-structured
(tactical)Decision procedures can be pre-specified, but not enough
to lead to the correct decision
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10-*Decision Support Systems
Management Information SystemsDecision Support SystemsDecision
support providedProvide information about the performance of the
organizationProvide information and techniques to analyze specific
problemsInformation form and frequencyPeriodic, exception, demand,
and push reports and responsesInteractive inquiries and
responsesInformation formatPrespecified, fixed formatAd hoc,
flexible, and adaptable formatInformation processing
methodologyInformation produced by extraction and manipulation of
business dataInformation produced by analytical modeling of
business data
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10-*Business Intelligence Applications
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10-*Neural NetworksComputing systems modeled after the brains
mesh-like network of interconnected processing elements
(neurons)Interconnected processors operate in parallel and interact
with each other helps Big Bazaar for logistics handling and also
SCM issues.Allows the network to learn from the data it processes
and thus redundancy of information/ product data is reduced or
eliminated.
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10-*Fuzzy LogicFuzzy logicResembles human reasoningAllows Big
Bazaar Team for approximate values and inferences and incomplete or
ambiguous dataUses terms such as very high instead of precise
measuresUsed in fuzzy process controllers used in subway trains,
elevators, and cars. Big Bazaar can derive learning's for their
distribution channels.
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10-*Genetic AlgorithmsGenetic algorithm software Uses Darwinian,
randomizing, and other mathematical functionsSimulates an
evolutionary process, yielding increasingly better solutions to a
problemBeing uses to model a variety of scientific, technical, and
business processesEspecially useful for situations in which
thousands of solutions are possible
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10-*Virtual Reality (VR)Virtual reality is a computer-simulated
realityFast-growing area of artificial intelligenceOriginated from
efforts to build natural, realistic, multi-sensory human-computer
interfacesRelies on multi-sensory input/output devicesCreates a
three-dimensional world through sight, sound, and touchAlso called
telepresence
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10-*VR Applications at Big BazaarCurrent applications of virtual
realityProduct demonstrationsEmployee trainingEntertainment
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10-*Intelligent AgentsA software surrogate for an end user or a
process that fulfills a stated need or activityUses built-in and
learned knowledge base to make decisions and accomplish tasks in a
way that fulfills the intentions of a userAlso call software robots
or bots
