Search results for "decision model"
showing 10 items of 13 documents
The Advantage of Digital Decision Making for Strategic Decisions – Proofed by a Supply Chain Case
2017
This paper will discuss the advantage of decision making supported by a digital system and will provide an overview of an empiric analysis researched on this topic. Decision making in organizations is a significant system implied task of managers and therefore a broad area in scientific research, not only in the disciplines management or business studies – even from technical to humanistic disciplines. Nowadays the trend of digitalization captures all areas of life especially in business, as well as the typical management task of decision making. Triggered by the digitalization trend business will move toward an autonomous decision making of machines or cyber systems. The important step tow…
Collaboration and Decision-Making in Context
2016
The goal of this chapter is to provide a historical account of the evolutions in the domain of the book and to set the stage for the concepts and solutions to be presented in the following chapters, including the introduction of the terminology adopted to be used throughout this text. Consequently, we aim at providing the answers to a series of questions, such as: (a) “How the organizations have been evolving over the last decades?”, (b) “Which have been the corresponding trends of the management and control schemes?”, (c) “How management and control functions are allocated to human and automation equipment?”, (d) “Which are the desirable properties of the information processing tools meant…
Patented intelligence: Cloning human decision models for Industry 4.0
2018
Industry 4.0 is a trend related to smart factories, which are cyber-physical spaces populated and controlled by the collective intelligence for the autonomous and highly flexible manufacturing purposes. Artificial Intelligence (AI) embedded into various planning, production, and management processes in Industry 4.0 must take the initiative and responsibility for making necessary real-time decisions in many cases. In this paper, we suggest the Pi-Mind technology as a compromise between completely human-expert-driven decision-making and AI-driven decision-making. Pi-Mind enables capturing, cloning and patenting essential parameters of the decision models from a particular human expert making …
Reference point approach for multiple decision makers
2005
We consider multiple criteria decision-making problems where a group of decision-makers wants to find the most preferred solution from a discrete set of alternatives. We develop a method that uses achievement functions for charting subsets of reference points that would support a certain alternative to be the most preferred one. The resulting descriptive information is provided to the decision-makers in the form of reference acceptability indices and central reference points for each decision alternative. Then, the decision-makers can compare this information with their own preferences. We demonstrate the use of the method using a strategic multiple criteria decision model for an electricit…
Goal Programming as a Decision Model for Performance-Based Budgeting
2013
Abstract The spreadsheet applications are becoming a widely used tool for processing quantitative data and developing analytical solutions. The ability to build decision support systems (DSS) based on these spreadsheet solutions can facilitate knowledge management and increase information utilization within an organization. The paper describes the use of a spreadsheet solution to partially implement the performance-based budgeting (PB) principles for a public body. The solution builds on the goal programming optimization method and is exemplified for some real data.
A multiple criteria decision model for analyzing and choosing among different development patterns for the Helsinki cargo harbor
1999
Abstract This paper describes a real application of a multicriteria approach to choosing among different options for developing the Helsinki harbor. In addition to the environmental impact assessment procedure, an analysis of the alternatives using the SMAA-method (Stochastic Multiobjective Acceptability Analysis) is carried out. The method applied here has been developed for situations in which the use of decision-makers’ preference information is not possible. Instead, the problem is described by typical weight vectors leading to each solution, taking into account the evident uncertainty embedded in the criteria values.
A Decision Model for Selecting Patterns and Strategies to Decompose Applications into Microservices
2021
Microservices Architecture (MSA) style is a promising design approach to develop software applications consisting of multiple small and independently deployable services. Over the past few years, researchers and practitioners have proposed many MSA patterns and strategies covering various aspects of microservices design, such as application decomposition. However, selecting appropriate patterns and strategies can entail various challenges for practitioners. To this end, this study proposes a decision model for selecting patterns and strategies to decompose applications into microservices. We used peer-reviewed and grey literature to collect the patterns, strategies, and quality attributes f…
Decision Suport System for Manufacturing Processes Reengineering based upon Fuzzy Logic Techniques
2012
Abstract This work presents a method for taking the decision of reengineering a production system, based upon fuzzy techniques. The main advantage of this method is, after authors' opinion, is the ease of its implementation together with the reduced time for gathering data and processing it. Multi-variable decision systems are usually based upon complicated mathematical methods and involved a large amount of data to be processed. The fuzzy approach presented here is based only on five input variables and one output variable. The data for the model are gathered by simple queries and quizzes. Human perception, the main point of fuzzy logic, is widely used here for gathering input data for the…
Simulating term structure of interest rates with arbitrary marginals
2011
Decision models under uncertainty rely their analysis on scenarios of the economic factors. A key economic factor is the term structure of interest rates (yields). Simulation models of the yield curve usually assume that the conjugate distribution of the interest rates is lognormal. Dynamic models, like vector auto-regression, implicitly postulate that the logarithm of the interest rates is normally distributed. Statistical analyses have, however, shown that stationary transformations (yield changes) of the interest rates are substantially leptokurtic, thus posing serious doubts on the reliability of the available models. We propose in this paper a VARTA model (Biller and Nelson, 2003) to s…
A Decision Model for the Multiple Criteria Group Secretary Problem: Theoretical Considerations
1996
A decision model is developed for solving the discrete multiple criteria group secretary problem. The model extends the single decision-maker progressive algorithm by Korhonen, Moskowitz and Wallenius to group contexts. As the original progressive algorithm, it relaxes the usual assumption of a fixed set of available decision alternatives and complete knowledge of a decision-maker's preference structure (value function). The decision-makers are requested to settle on a compromise, if possible. The model then proceeds with determining the likelihood of finding possibly/surely better settlements (compromises). Linear value functions, linear prospect theory-type value functions, and quasiconca…