How will Big Data change the way managers make decisions? Artificial intelligence and its impact on managerial decision making

How will Big Data change the way managers make decisions? Artificial intelligence and its impact on managerial decision making
Author: Carolin Nothof
Publisher: GRIN Verlag
Total Pages: 83
Release: 2019-03-22
Genre: Business & Economics
ISBN: 3960954867
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Today’s most precious raw material is not gold, but Big Data: Each one of us generates a huge amount of information every single day, rendering thus both ourselves and our choices transparent. But in addition to that, Big Data helps companies to improve their decision-making. Since managers have to address highly complex issues in an ever more complicated world, they cannot do without Big Data and Artificial Intelligence, as Carolin Nothof explains. By taking into account various external factors, their algorithms predict right entrepreneurial choices. These choices can be made in areas such as retail, Human Resources, the Internet of Things, and marketing. Nothof’s publication is not only rich in theoretical explanations, but also gives examples of the practical use of Big Data in various industries. Machines are a man’s best co-workers. In this book: - Big Data; - decision-making; - AI; - Behavorial Economics; - Machine Learning; - algorithms

The Future of Management in an AI World

The Future of Management in an AI World
Author: Jordi Canals
Publisher: Springer Nature
Total Pages: 254
Release: 2019-09-21
Genre: Business & Economics
ISBN: 3030206807
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Artificial Intelligence (AI) is redefining the nature and principles of general management. The technological revolution is reshaping industries, disrupting existing business models, making traditional companies obsolete and creating social change. In response, the role of the manager needs to urgently evolve and adjust. Companies need to rethink their purpose, strategy, organisational design and decision-making rules. Crucially they will also need to consider how to nurture and develop the business leaders of the future and develop new ways to interact with society on issues such as privacy and trust. Containing international insights from leading figures from the world of management and technology, this book addresses the big challenges facing organisations, including: · Decision-making · Corporate strategy · People management and leadership · Organisational design Taking a holistic approach, this collection of expert voices provides valuable insight into how firms will discover and commit to what makes them unique in this new big data world, empowering them to create and sustain competitive advantage.

Decision Intelligence

Decision Intelligence
Author: Thorsten Heilig
Publisher: John Wiley & Sons
Total Pages: 247
Release: 2023-10-31
Genre: Business & Economics
ISBN: 1394185448
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Dramatically improve your decisions with data and AI In Decision Intelligence: Transform Your Team and Organization with AI-Driven Decision-Making, a team of pioneering decision and AI strategists delivers a digestible and hands-on resource for professionals at every part of the decision-making journey. The book discusses the latest technology and approaches that bridge the gap between behavioral science, data science, and technological innovation. Discover how leaders from various industries and environments are using data and AI to make better future decisions, taking both human as well as business factors into account. This book covers: A demystifying behind-the-scenes peek inside how AI models, forecasts, and optimization for business challenges really work, and why they open up entirely new possibilities. A business-ready introduction to decision intelligence, exploring why traditional decision-making strategies are outdated and how to transition to decision-intelligence. The evolution of Decision Intelligence, coming from analytics and modern techniques like process mining and robotic process automation An examination of decision intelligence at the organizational level, including discussions of agile transformation, transparent organizational culture, and why psychological safety is a crucial enabler for new ways of decision-making in modern companies An overview of why (and where exactly) AI still needs human expertise and how to incorporate this topic in daily planning and decision making Decision Intelligence is essential reading for managers, executives, board members, other business leaders and soon-to-be leaders looking to improve the quality, adaptability, and speed of their decision-making. Praise for Decision Intelligence "In Decision Intelligence, Thorsten Heilig and Ilhan Scheer build a compelling case for the world of tomorrow’s version of decision-making.” ―Martin Lindstrom, New York Times best-selling author "Decision Intelligence will be one of the big topics for this decade and completely change the way organizations manage, plan, and operate. This book provides a comprehensive guide from the basics to the applications." ―Niklas Jansen, Entrepreneur and Tech Investor, Founding Partner Interface Capital and Co-Founder Blinkist "The book impressively demonstrates the potential and entry points into the world of AI-powered decision making. A very valuable reading for managers and their organizations". ―Michael Kleinemeier, Member of the Merck KG Board of Partners, former Member of the SAP SE Executive Board “The AI hype perfectly captured, easy to understand, de-mystified and mapped to clear use cases - a must-read for today's managers.” ―Dr. Daniela Gerd tom Markotten, Member of the Management Board for Digitalization and Technology, Deutsche Bahn AG

Data-Driven Approaches for Effective Managerial Decision Making

Data-Driven Approaches for Effective Managerial Decision Making
Author: Anubha
Publisher: IGI Global
Total Pages: 354
Release: 2023-05-08
Genre: Business & Economics
ISBN: 1668475707
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In today’s competitive market, a manager must be able to look at data, understand it, analyze it, and then interpret it to design a smart business strategy. Big data is also a valuable source of information on how customers interact with firms through various mediums such as social media platforms, online reviews, and many more. The applications and uses of business analytics are numerous and must be further studied to ensure they are utilized appropriately. Data-Driven Approaches for Effective Managerial Decision Making investigates management concepts and applications using data analytics and outlines future research directions. The book also addresses contemporary advancements and innovations in the field of management. Covering key topics such as big data, business intelligence, and artificial intelligence, this reference work is ideal for managers, business owners, industry professionals, researchers, scholars, academicians, practitioners, instructors, and students.

Big Data and Artificial Intelligence in Management. Disruptive Technologies as a success factor for decision-making

Big Data and Artificial Intelligence in Management. Disruptive Technologies as a success factor for decision-making
Author: Moritz Mayer
Publisher: GRIN Verlag
Total Pages: 74
Release: 2022-04-19
Genre: Business & Economics
ISBN: 3346628779
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Document from the year 2019 in the subject Business economics - Business Management, Corporate Governance, , language: English, abstract: Geopolitically, economically and technologically, the world is in a state of upheaval. Technological progress is shortening innovation cycles, processes and projects in companies are steadily gaining in complexity, and the globalized economy is producing increasingly dynamic markets. In an era characterized by the networking of the real and virtual worlds, data is emerging as the resource of the future. However, the huge amounts of data, also known as Big Data, demand that they be used effectively. As a result, management must make increasingly frequent and complex decisions. However, human working time is scarce and the question arises as to whether human capacity, intelligence and creativity can still cope with the increasing demands. Could AI, using Big Data, possibly act as a success factor, in corporate decision making? Under this question, Mayer compares the decision-making of a human with that of an artificial intelligence. The focus here is primarily on the economic goal idea. What basic requirements does an AI need? What risks open up, among other things in terms of loss of control, ethics or data protection? And to what extent are the numerous visions actually realizable in practice? From the contents: - Digitization - Big Data - Artificial Intelligence - Management 4.0 - Enterprise

Management Decision-Making, Big Data and Analytics

Management Decision-Making, Big Data and Analytics
Author: Simone Gressel
Publisher: SAGE
Total Pages: 354
Release: 2020-10-12
Genre: Business & Economics
ISBN: 1529738288
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Accessible and concise, this exciting new textbook examines data analytics from a managerial and organizational perspective and looks at how they can help managers become more effective decision-makers. The book successfully combines theory with practical application, featuring case studies, examples and a ‘critical incidents’ feature that make these topics engaging and relevant for students of business and management. The book features chapters on cutting-edge topics, including: • Big data • Analytics • Managing emerging technologies and decision-making • Managing the ethics, security, privacy and legal aspects of data-driven decision-making The book is accompanied by an Instructor’s Manual, PowerPoint slides and access to journal articles. Suitable for management students studying business analytics and decision-making at undergraduate, postgraduate and MBA levels.

Bursting the Big Data Bubble

Bursting the Big Data Bubble
Author: Jay Liebowitz
Publisher: CRC Press
Total Pages: 344
Release: 2014-07-25
Genre: Business & Economics
ISBN: 1482228874
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As we get caught up in the quagmire of Big Data and analytics, it remains critically important to be able to reflect and apply insights, experience, and intuition to your decision-making process. In fact, a recent research study at Tel Aviv University found that executives who relied on their intuition were 90 percent accurate in their decisions.Bu

Big Data Quantification for Complex Decision-Making

Big Data Quantification for Complex Decision-Making
Author: Zhang, Chao
Publisher: IGI Global
Total Pages: 328
Release: 2024-04-16
Genre: Business & Economics
ISBN:
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Many professionals are facing a monumental challenge: navigating the intricate landscape of information to make impactful choices. The sheer volume and complexity of big data have ushered in a shift, demanding innovative methodologies and frameworks. Big Data Quantification for Complex Decision-Making tackles this challenge head-on, offering a comprehensive exploration of the tools necessary to distill valuable insights from datasets. This book serves as a tool for professionals, researchers, and students, empowering them to not only comprehend the significance of big data in decision-making but also to translate this understanding into real-world decision making. The central objective of the book is to examine the relationship between big data and decision-making. It strives to address multiple objectives, including understanding the intricacies of big data in decision-making, navigating methodological nuances, managing uncertainty adeptly, and bridging theoretical foundations with real-world applications. The book's core aspiration is to provide readers with a comprehensive toolbox, seamlessly integrating theoretical frameworks, practical applications, and forward-thinking perspectives. This equips readers with the means to effectively navigate the data-rich landscape of modern decision-making, fostering a heightened comprehension of strategic big data utilization. Tailored for a diverse audience, this book caters to researchers and academics in data science, decision science, machine learning, artificial intelligence, and related domains.

Leading with AI and Analytics: Build Your Data Science IQ to Drive Business Value

Leading with AI and Analytics: Build Your Data Science IQ to Drive Business Value
Author: Eric Anderson
Publisher: McGraw Hill Professional
Total Pages: 353
Release: 2020-11-23
Genre: Business & Economics
ISBN: 1260459152
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Lead your organization to become evidence-driven Data. It’s the benchmark that informs corporate projections, decision-making, and analysis. But, why do many organizations that see themselves as data-driven fail to thrive? In Leading with AI and Analytics, two renowned experts from the Kellogg School of Management show business leaders how to transform their organization to become evidence-driven, which leads to real, measurable changes that can help propel their companies to the top of their industries. The availability of unprecedented technology-enabled tools has made AI (Artificial Intelligence) an essential component of business analytics. But what’s often lacking are the leadership skills to integrate these technologies to achieve maximum value. Here, the authors provide a comprehensive game plan for developing that all-important human factor to get at the heart of data science: the ability to apply analytical thinking to real-world problems. Each of these tools and techniques comes to powerful life through a wealth of powerful case studies and real-world success stories. Inside, you’ll find the essential tools to help you: Develop a strong data science intuition quotient Lead and scale AI and analytics throughout your organization Move from “best-guess” decision making to evidence-based decisions Craft strategies and tactics to create real impact Written for anyone in a leadership or management role—from C-level/unit team managers to rising talent—this powerful, hands-on guide meets today’s growing need for real-world tools to lead and succeed with data.

Analytics Enabled Decision Making

Analytics Enabled Decision Making
Author: Vinod Sharma
Publisher: Springer Nature
Total Pages: 315
Release: 2023-05-23
Genre: Business & Economics
ISBN: 981199658X
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Analytics is changing the landscape of businesses across sectors globally. This has led to the stimulation of interest of scholars and practitioners worldwide in this domain. The emergence of ‘big data’, has fanned the usages of machine learning techniques and the acceptance of ‘Analytics Enabled Decision Making’. This book provides a holistic theoretical perspective combined with the application of such theories by drawing on the experiences of industry professionals and academicians from around the world. The book discusses several paradigms including pattern mining, clustering, classification, and data analysis to name a few. The main objective of this book is to offer insight into the process of decision-making that is accelerated and made more precise with the help of analytics.