Decision-Making with Technology

Abstract

In every organization decision-making is an integral part of the management process. Technology is booming and in decision-making, it is taking key responsibilities. Every company deals with a huge amount of data from various sources daily and operating with the volume of data is absolutely astounding compared to what the organizations used to do decades ago. In today’s world, business intelligence tools are very important components of any successful business strategy. These tools allow users to modernize the effort needed to search for, combine and query data to obtain the information required for good decisions. In this article, we will discuss the technology trends in decision-making, the capabilities of technology in managerial decision-making and the cognitive ability of decision-making. We will also discuss supervised and unsupervised learning of machine learning techniques, how artificial neural nets (ANNs) use supervised learning to predict outcomes in decision-making with real-world examples.