Applications Of Decision Science In Management

Application of Decision Science in Business and Management is a book where each chapter has been contributed by a different author(s). The chapters introduce and demonstrate a decision-making theory to practice case studies. It demonstrates key results for each sector with diverse real-world case studies. Theory is accompanied by relevant analysis techniques, with a progressive approach building from simple theory to complex and dynamic decisions with multiple data points, including big data, lot of data, etc. Computational techniques, dynamic analysis, probabilistic methods, and mathematical optimization techniques are expertly blended to support analysis of multi-criteria decision-making problems with defined constraints and requirements. The book provides an interface between the main disciplines of engineering/technology and the organizational, administrative, and planning abilities of decision making. It is complementary to other sub-disciplines such as economics, finance, marketing, decision and risk analysis, etc.

This book covers research trends of data science and management involving cutting edge technologies and novel research directions from diverse fields of industries, business and government sectors. It involves usage of various advanced tools and techniques for understanding different data collected at the grassroot level to generate actionable insights for making crucial decisions. This book aims to serve as a reference book for researchers in the area of decision science for management. It covers alternative solutions with innovative ideas and issues from different fields of business management.

This book covers research trends of data science and management involving cutting edge technologies and novel research directions from diverse fields of industries, business and government sectors. It involves usage of various advanced tools and techniques for understanding different data collected at the grassroot level to generate actionable insights for making crucial decisions. This book aims to serve as a reference book for researchers in the area of decision science for management. It covers alternative solutions with innovative ideas and issues from different fields of business management.

This book contains international perspectives that unifies the themes of strategic management, decision theory, and data science. It contains thought-provoking presentations of case studies backed by adequate analysis adding significance to the discussions. Most of the decision-making models in use do take due advantage of collection and processing of relevant data using appropriate analytics oriented to provide inputs into effective decision-making. The book showcases applications in diverse fields including banking and insurance, portfolio management, inventory analysis, performance assessment of comparable economic agents, managing utilities in a health-care facility, reducing traffic snarls on highways, monitoring achievement of some of the sustainable development goals in a country or state, and similar other areas that showcase policy implications. It holds immense value for researchers as well as professionals responsible for organizational decisions.

This book presents best practices involving applications of decision sciences, business tactics and behavioral sciences for COVID-19. Addressing concrete problems in these vital fields, it focuses on theoretical and methodological investigations of managerial decisions that drive production and service enterprises’ productivity and success. Moreover, it presents optimization techniques and tools that can also be adopted for other applications in various research areas after a thorough analysis of the specific problem. The book is intended for researchers and practitioners seeking optimum solutions to real-life problems in various application areas concerning COVID-19, helping them make scientifically founded decisions.

Today, business success depends on making great decisions – and making them fast. Leading organizations apply sophisticated business analytics tools and technologies to evaluate vast amounts of data, glean new insights, and increase both the speed and quality of decision making. In The Best Thinking and Practices in Business Analytics from the Decision Sciences Institute, DSI has compiled award-winning and award-nominated contributions from its most recent conferences: papers that illuminate exceptionally high-value applications and research on analytics for decision-making. These papers have appeared in no other DSI collection. Explore them here, and you’ll discover powerful new opportunities for competitive advantage through analytics. For all business, academic, and organizational professionals concerned with the science of more effective decision-making; and for undergraduate students, graduate students, and certification candidates in all related fields.

Based on many years of applied research, modeling and educating future decision makers, the authors have selected the critical set of mathematical modeling skills for decision analysis to include in this book. The book focuses on the model formulation and modeling building skills, as well as the technology to support decision analysis. The authors cover many of the main techniques that have been incorporated into their three-course sequence in mathematical modeling for decision making in the Department of Defense Analysis at the Naval Postgraduate School. The primary objective of this book is illustrative in nature. It begins with an introduction to mathematical modeling and a process for formally thinking about difficult problems, illustrating many scenarios and illustrative examples. The book incorporates the necessary mathematical foundations for solving these problems with military applications and related military processes to reinforce the applied nature of the mathematical modeling process.