chapter 9:DECISION MAKING

EXPERT SYSTEMS

 -are computerized advisory programs that imitate the reasoning processes of experts in solving difficult problem. Typically they include a knowledge base containing various accumulated experience and a set rules for applying the knowledge base to each particular situation.Are the most common form of all in the business arena because they fill the gap when human experts are difficult to find or retain or are too expensive.(CLICK HERE)


NEURAL NETWORKS

-Analyse large quantities of information to establish pattern and characteristic in situation where the logic or rules are unknown

• learning and adjusting to new circumstances on their own.
• lending themselves to massive parallel processsing.
• functioning without complete or well-structure information.
• coping with huge volumes of information 
• analyzing nonliner relationship in information 

GENETIC ALGORITHMS (CLICK HERE)

-is an inteligence system that mimics evolutionary survival of the fittest process to generate increasingly better solution to a problem.Is essentially an optimizing system .Genetic algorithms are best suited to decision making environments in which thousand or perhaps millions of solution are posibble.Can find and evaluate solution with many more posibilities faster and more thoroughly than a human.Organization face decision making environment for all type of problem that require optimization techniquesnsuch as following:

• business executives use genetic algorithns to help them decide which combination of projects a firm should invest in taking complicated tax considerations into account.
• investment companies use genetic algorithms to help in trading decision

INTELLIGENT AGENT (CLICK HERE)

-is the special purpose knowledge based information system that accomplishes specific tasks on behalf of its users.Intelligent agents usually have a graphical  representation such as sherlock holmes for an information search agent.One of the simplest examples of an intelligence agent is a shopping bot.A shopping bot is software that will search several retailer website and provide a comparison each retailer`s offerings including price and availability Increasingly intelligence agent handle the majority of a company internet buying and selling and complete such processes as finding products bargaining over prices and executing transactions.Intelligence agents also have  the capability to handle all supply chain buying and selling.

Another application for intelligence agents is in environment scanning and competitive intelligence.

VIRTUAL REALITY (CLICK HERE)

-is computer stimulated environment that can be simulation of the real world or an imaginary world.Fast-growing area of artifical human company interfaces.Enables telepresence where users can  be anywhere in the world and used virtual reality system to work alone or together at a remote site.To enhance the sight and touch of a human who is remotely manipulating equipment to accomplish a task.