Executive decision support systems assist business executives in making informed decisions by synthesizing information from various sources into an easily understandable format. These systems are becoming more advanced and accessible to key employees, allowing for a more collaborative decision-making process.
An executive decision support system is a type of computerized information system designed to assist business executives in the decision-making process. These executives are asked to process information coming from various sources before eventually taking all the information and trying to make sense of it. By using a support system, executives have all the information they need at their fingertips and can break it down much more efficiently. These systems are usually formatted as easy-to-use computer software that responds quickly to new information and is available to other managers who must provide information to key executives.
CEOs and other senior business executives are often paid high salaries to carry out their duties as heads of profitable companies and corporations. The main reason why they receive such high salaries is that they are able to make important decisions involving large sums of money and the financial fortunes of employees and shareholders. These decisions would not be possible without some assistance, and increasingly that assistance comes to technology. An executive decision support system is an example of such assistance.
The main objective of this type of support system is to synthesize all the different sources of pertinent information into a concise form that is easily understood. This can take many different forms, such as charts, pie charts, or even reports prepared by lower-level employees who also have access to the information system. That way, the executive can get to the heart of the matter and make a commanding decision.
For executives who prefer to take a hands-on approach with this technology, the executive decision support system must be easy enough to manipulate to produce the information the executive wants. Also, he must be able to keep himself updated with the latest information. After all, an executive making a decision based on outdated information could make a crucial mistake.
There are many different types of software available to companies interested in installing an executive decision support system. As technology continues to advance, these systems are becoming more and more functional and malleable to changing business needs. It is often helpful for executives to also give key employees access to the system. By doing so, it is possible that other views on the information will be taken into account in the overall decision-making process.
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