A decision support system is the data that is organized for retrieval. The elements of the data are a purchase, vote, attendance at a function, or a donation to a cause, etc.
A business intelligence system (BIS) is designed to provide the manager with ongoing information about events and trends in the technological, economic, political, legal, demographic, cultural, societal, and competitive arenas
Strategy is defined as the general approach an organization will follow to achieve its goal.
Tactics are specific timed activities that execute a strategy.
Purposes of business research are:
1. Identify and define opportunities and problems
2. To define, monitor, and refine strategies
3. To define monitor and refine tactics
4. To improve our understanding of the various fields of management
There are 3 tiers of information based decision makers:
1. Top tier are the visionaries where every decision is guided by research. They also have access to enterprise wide research data and findings
2. Middle tier base some decisions on business research. They use tried and true metholodgies, and have limited enterprise data and finding.
3. Base tier base most decisions on past experience or instinct. Decisions are supported with limited qualitative research.
Applied research has a practical problem solving influence.
Pure research (aka basic research) aims to solve perplexing questions or obtain new knowledge of an experimental or theoretical nature that has little direct or immediate impact on action, performance, or policy decisions.
A reporting study provides a summarization of data, often recasting data to achieve a deeper understanding to generate statistics for comparison.
A descriptive study tries to discover answers to the questions who, what, when, where and how. They may not have the potential for drawing powerful inferences.
A research variable is a single event or characteristic
An explanatory study attempts to explain the reasons for the...