Discusses the application of decision support systems (DSS) to assist in solving marketing decisions. As the marketing environment becomes more competitive the pressure to gain the “edge” over your competitors becomes more intense. Marketing decision support systems (MDSS) are valuable tools to assist in making marketing decisions to do just that! MDSS can be used to support, rather than replace, decision makers in the complex, semi or unstructured situations which are common in marketing problems. They incorporate the personal judgement and experience of the user to improve the effectiveness, rather than the efficiency of decision making. This means that managers will have more “quality” time to spend on analysis and planning for the future, rather than merely reflecting on the past. Discusses different types of DSS within an environment where there are discrepancies over definition, jargon and suppliers’ claims. Cassie, C. (1997), "Marketing decision support systems", Industrial Management & Data Systems, Vol. 97 No. 8, pp. 293-296. //doi.org/10.1108/02635579710195000 MCB UP Ltd
Copyright © 1997, MCB UP Limited
Decision support systems are designed to help individuals analyze large amounts of data to make informed decisions. The systems are just computer systems designed to store and analyze data relevant to organizational decision making. In other words, when we need to make a decision, we can go to our decision support system and look at what does the data tell us regarding this decision or this choice that we have to make.
Decision support systems can create sophisticated models or representations of what is going on in the data. For example, Interpreting the data may help a marketer know what consumers are doing or what happens with our prices or if we change the price what's going to happen to our sales.
Another aspect or another use for decision support systems are what is called a marketing dashboard. This is just the console if you want to think of it that way or a platform where we as marketers can can go onto the computer and get a quick snapshot of what's going on.
The marketing dashboard can report metrics or or include other sorts of trends that we might need to follow.
Combined these sophisticated models (these marketing models) with the marketing dashboards to create what we call the decision support system.
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Marketing decision support system (MDSS)
A system used to manipulate a collection of data to interpret and explore potential business scenarios in order to make management decisions. Marketing decision support systems (MDSS) are considered by some businesses a key tool in gaining the edge over competitors. MDSS can be used to assist, rather than supersede, employee decision makers in the complicated scenarios which are common in marketing.
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Beta Tests, Socially responsible marketing, Perfect competition, Models (or marketing models), Shelf life, Marketing audit, Marketing myopia, Asset-led marketing, SWOT analysis, Market penetration pricing, National Change of Address (NCOA), Inducements, Market challenger, Background, Customised marketing mix,
A decision support system (DSS) is a computerized program used to support determinations, judgments, and courses of action in an organization or a business. A DSS sifts through and analyzes massive amounts of data, compiling comprehensive information that can be used to solve problems and in decision-making.
Typical information used by a DSS includes target or projected revenue, sales figures or past ones from different time periods, and other inventory- or operations-related data.
- A decision support system (DSS) is a computerized system that gathers and analyzes data, synthesizing it to produce comprehensive information reports.
- A decision support system differs from an ordinary operations application, whose function is just to collect data.
- Decision support systems allow for more informed decision-making, timely problem-solving, and improved efficiency in dealing with issues or operations, planning, and even management.
A decision support system gathers and analyzes data, synthesizing it to produce comprehensive information reports. In this way, as an informational application, a DSS differs from an ordinary operations application, whose function is just to collect data.
The DSS can either be completely computerized or powered by humans. In some cases, it may combine both. The ideal systems analyze information and actually make decisions for the user. At the very least, they allow human users to make more informed decisions at a quicker pace.
The DSS can be employed by operations management and other planning departments in an organization to compile information and data and synthesize it into actionable intelligence. In fact, these systems are primarily used by mid- to upper-level management.
For example, a DSS may be used to project a company's revenue over the upcoming six months based on new assumptions about product sales. Due to a large number of factors that surround projected revenue figures, this is not a straightforward calculation that can be done manually. However, a DSS can integrate all the multiple variables and generate an outcome and alternate outcomes, all based on the company's past product sales data and current variables.
A DSS can be tailored for any industry, profession, or domain including the medical field, government agencies, agricultural concerns, and corporate operations.
The primary purpose of using a DSS is to present information to the customer in an easy-to-understand way. A DSS system is beneficial because it can be programmed to generate many types of reports, all based on user specifications. For example, the DSS can generate information and output its information graphically, as in a bar chart that represents projected revenue or as a written report.
As technology continues to advance, data analysis is no longer limited to large, bulky mainframe computers. Since a DSS is essentially an application, it can be loaded on most computer systems, whether on desktops or laptops. Certain DSS applications are also available through mobile devices.
The flexibility of the DSS is extremely beneficial for users who travel frequently. This gives them the opportunity to be well-informed at all times, providing them the ability to make the best decisions for their company and customers on the go or even on the spot.
In organizations, a decision support system (DSS) analyzes and synthesizes vast amounts of data to assist in decision-making. With this information, it produces reports that may project revenue, sales, or manage inventory. Through the integration of multiple variables, a DSS can produce a number of different outcomes based on the company’s previous data and current inputs.
Many different industries, from medicine to agriculture, use decision support systems. To help diagnose a patient, a medical clinician may use a computerized decision support system for diagnostics and prescriptions. Combining clinician inputs and previous electronic health records, a decision support system may assist a doctor in diagnosing a patient.
Broadly speaking, decision support systems help in making more informed decisions. Often used by upper and mid-level management, decision support systems are used to make actionable decisions, or produce multiple possible outcomes based on current and historical company data. At the same time, decision support systems can be used to produce reports for customers that are easily digestible and can be adjusted based on user specifications.