TRADE TABLE OF CONTENTS CORPORATE FINANCE CORPORATE FINANCE BASICS Decision Support System (DSS): What It Is and How Businesses Use Them By TROY SEGAL Updated June 07, 2024 Reviewed by MARGARET JAMES Fact checked by SUZANNE KVILHAUG Decision Support System Investopedia / Michela Buttignol What Is a Decision Support System (DSS)? 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. KEY TAKEAWAYS 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. Understanding a Decision Support System (DSS) 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. One of the first data-driven DSS was developed at American Airlines in the 1970s.1 Using a DSS 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. Characteristics of a DSS 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

1. Topic- Decision Support
System (DSS)

2. Decision support system (DSS)
Decision Support System (DSS).
Definition- A Decision is define as choice out a serveral action made
by decision makar to achieve Some objective given Situation
Characteristics of Decision making
Sequencial by In nature.
• Influence by personal Value.
• Some times complex due to risk and Situation.

3. •Decision Support System.
•
•It is a Compater based system that helps
you to make planning manafuturing
operations on management decisions on
the basis or Information available

4. Characteristics of Decision Support System.
Characteristics of Decision Support System.
It is a Computer based applications or Programmes It
compiles, combines and analysis raw data document so as to
get
proper Infromation for decision makers. To identify problem
a there solution. And determine
• DSS provide the facility to get optimal of exact decision
making.

5. Application of DSS
• Applications of DSS:
• 1. Accounting and auditing
• 2.Finance
• 3.information system
• 4.Human resource management
• 5.Production and operation management
• 6.marketing

6. Application of DSS
Accounting or Auditing
. In this particular Sector the accounting data is use for further
decisions made by strategic level management so that by strategic level
management so that get or active objectives of organisation.
Finance –
Assets, liability management, cash. Management capital budgets,
Financial analysis and diagnosis, planning or margers and acquisitions
this Are the Some Finace related activities which are, fake in mind for
proper decision. Making.

7. Application of DSS
• Human Resource
• man power planning personal Assignments Resolving lobour
management dispute tracking Information or data
Regarding human resource
• Information system:-
• In Include data Communication System System
• Analysis System design and development,
• system effectiveness strategies
• planning of System development.

8. Application of DSS
• Productions and operation management
• Planning for demand, Scheduling of Production
planning and Control operation scheduling and
Control Include manufacturing and control Include
manufacturing industy and service Industy Investory
planning and Controlling Material requirement
Planning
• resource mangement.

9. Application of DSS
• Marketing :-
• Allocating retail space,
• market share
• Competitive Pricing
• Sales and purchase records
• logistic

10. Conclusion
• Decision Support Systems are a class of
subsystem of the Management Information
system which support analysts, planners and
managers in the decision making process.
Now DSS are used all over the world by
public, private and government agencies to
solve complex and data intensive problems.