Understand Decision Making with Information and the Decision Process Assignment Help Online
Information is something which informs. It is related to data as well as knowledge. Information effects the establishment or conversion of further patterns. Analyzing information is the procedure of transforming, reviewing, demonstrating, converting the information by changing the raw data into meaningful facts in backing of the process of decision-making.
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Define the steps of decision making-
The process of decision making consists of four steps which at the end provide us the decision. Let’s discuss the process briefly-
- Describing the problem–
It is important to define the problem first. What issues are covered? What is problem? What decisions are required? There are certain multifaceted linkages which generate problem. For each case, one should make a list of information or facts which will be required and explain how the information is necessary for better decision.
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- Finding the information-
Find out the bases from where the information can be acquired. The question arises here are what kind of information is needed? Who has that specific information? Why is that evidence being collected by the source? Which constituent of the problem will it help? Remember that different sources offer information in diverse set-ups and that too for different reasons.
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- Dispensation the knowledge-
In this stage, the collected information is coordinated with the problem.The information is taken out which is required and organized in a better way. This stage consists of how the information collected is used. What is additional data needed? How is the information presented in understandable form and help in taking decision? Thus, we can say that information collected is estimated for its significance and rationality.
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- Taking the decision–
Here, in this stage, the concerned parties give opinions on the information collected. They use the information for decision-making process. It is important that the decision made is useful in serving the problem in hand. Decision which has been taken is then refined and checked and modified if required.
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