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Automated Problem Solving and Decision Making: Key Trends by C. R. Larsen
English | 2022 | ISBN: 1682517888 | 354 pages | PDF | 6.48 Mb
The day-to-day work of business professionals requires solving problems (or assessing opportunities) and making decisions. Decision making is a core activity for professional regulators. However, high-impact regulatory decisions are often made in an uncertain environment affected by resource constraints, individual biases and time pressures. Regulators can draw on a range of tools and techniques to strengthen their organisational decision making processes to address these challenges. The decision making process of many operations are dependent on analyzing very large data sets, previous decisions and their results. The information generated from the large data sets are used as an input for making decisions. Since the decisions to be taken in day to day operations are expanding, the time taken for manual decision making is also expanding. In order to reduce the time, cost and to increase the efficiency and accuracy, which are the most important things for customer satisfaction, many organisations are adopting the automated decision making systems.
Consequently, the purpose of this book is to introduce you to methods and techniques that will help you solve problems and make decisions. This book presents insights about the technologies used for automated decision making systems and the areas in which automated decisions systems works more efficiently and accurately. The Automated decision making systems are mainly used in business analytics and informatics. The decision making systems can be automated by applying certain business rules which are generated and operated by business analytics. The decisions taken by the automated decision making systems are part of the business informatics. This book provides the wide-ranging coverage to the challenges and perspectives of decision making from a computational perspective. This book will serve as valuable tool for directors, policy staff and operations staff, as well as to researchers and practitioners working within the field of organisational decision making. It is also of relevance to other regulatory bodies with an interest in the findings and conclusions from the work.
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