Modern technology allows businesses to operate at incredible efficiency levels. However, in order to keep up with the speed at which one must act, business leaders have to make decisions very quickly. Even though decisions must be made instantaneously, making the right decision is still critical; the wrong one will hurt a business endeavor, and subsequently, the company’s bottom line. Decision support systems (DSS) are excellent tools for making the right business decisions. Here is how DSS can help a modern day business leaders make the right decisions in a fast, efficient way:
DSS enhances communication
Communication is key in business; if a single word is misinterpreted, countless missteps could ensue. When a company’s data is arranged in a convoluted, difficult to understand manner, one could be led to disseminate that information in a confusing or misleading manner.
By compiling the data in a concise, easily understood package, business leaders can better communicate information to their peers, employees and business partners.
There are fewer steps in the analysis process with DSS
In order to make the correct business decisions, one must have the necessary data analyzed in detail. This gives a business leader a better perspective on what is and is not needed. Unfortunately, the collection, organization and analysis of said data is extremely time consuming. This holds up the productivity of the business; what’s more, if the data analysis process takes too long, the data itself may become obsolete. If that happens, then the decisions made based on the data is much more likely to be the incorrect ones.
DSS removes the problems of time consuming data analysis processes by using the power of computing to compile, organize and analyze the data in a manner of the business leader’s choosing. By making the investment in a DSS system, one will never have to worry about taking too long to analyze their data.
Business leaders get more independence with DSS
Due to the fact that DSS increases the efficiency at which data can be received, business leaders gain the flexibility to preoccupy themselves with other areas of their daily business operations. This added independence further increases the efficiency of their operations and greatly expands what the business itself is capable of doing.
DSS puts a business’ data in a historical context
A large part of knowing which direction to go in is understanding where one has been. In business, this means using past trends, results and analysis to help put things in perspective. However, it is easy for someone to become so enamored with the most recent business trends and data analysis that the historical data is ignored or completely forgotten. Many business leaders make this error, which can lead to a company making the same mistakes that they made in the past.
DSS systems put one’s data in a historical context. This gives business leaders the ability to make truly informed decisions that are not inhibited by a short sighted perspective created by a focus on a handful of recently acquired facts.
Existing programs can be used for DSS
One of the biggest causes of hesitation when a business leader is considering using DSS to enhance their business decision making is the prospect of having to take the time to implement and learn a totally new system. Modern DSS systems do not require this, because there are many Microsoft Excel decision support systems that remove the need to switch programs.
These Microsoft Excel decision support systems use the familiar infrastructure already created by the Microsoft Excel program and combine it with a unique programming language to create the DSS.