Contact Us

If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.

Please fill out the contact form below and we will reply as soon as possible.

  • Courses
  • Home
  • Marketing, Advertising, Sales & PR
  • Principles of Marketing

Decision Support System - Explained

What is a Decision Support System?

Written by Jason Gordon

Updated at September 28th, 2021

Contact Us

If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.

Please fill out the contact form below and we will reply as soon as possible.

  • Marketing, Advertising, Sales & PR
    Principles of Marketing Sales Advertising Public Relations SEO, Social Media, Direct Marketing
  • Accounting, Taxation, and Reporting
    Managerial & Financial Accounting & Reporting Business Taxation
  • Professionalism & Career Development
  • Law, Transactions, & Risk Management
    Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
  • Business Management & Operations
    Operations, Project, & Supply Chain Management Strategy, Entrepreneurship, & Innovation Business Ethics & Social Responsibility Global Business, International Law & Relations Business Communications & Negotiation Management, Leadership, & Organizational Behavior
  • Economics, Finance, & Analytics
    Economic Analysis & Monetary Policy Research, Quantitative Analysis, & Decision Science Investments, Trading, and Financial Markets Banking, Lending, and Credit Industry Business Finance, Personal Finance, and Valuation Principles
  • Courses
+ More

Table of Contents

What is a Decision Support System?

What is a Decision Support System?

Decision support systems are designed to help individuals analyze large amounts of data to make informed decisions. The systems are just computer systems designed to store and analyze data relevant to organizational decision making. In other words, when we need to make a decision, we can go to our decision support system and look at what does the data tell us regarding this decision or this choice that we have to make. 

Decision support systems can create sophisticated models or representations of what is going on in the data. For example, Interpreting the data may help a marketer know what consumers are doing or what happens with our prices or if we change the price what's going to happen to our sales. 

Another aspect or another use for decision support systems are what is called a marketing dashboard. This is just the console if you want to think of it that way or a platform where we as marketers can can go onto the computer and get a quick snapshot of what's going on. 

The marketing dashboard can report metrics or or include other sorts of trends that we might need to follow. 

Combined these sophisticated models (these marketing models) with the marketing dashboards to create what we call the decision support system.

Related Topics

  • Marketing Research Overview
  • Quantitative and Qualitative Research
  • Primary Research
  • Secondary Research
  • Determining the Right Marketing Strategy
  • What is a Marketing Information System?
  • What are Decision Support Systems?
  • What are Marketing Models?
  • What is a Marketing Dashboard?
  • What Kinds of Data can we Use?
  • Methods of Collecting Data
  • What are Focus Groups?
  • What is Group Think?
  • What are Scanner Data?
  • What is Web Tracking?
  • What is Ethnography?
  • What is Experimental` Research?
  • What is Use of Statistics
  • What Distorts the Results of Marketing Research?
  • Challenges of International Market Research?


Related Topics

  • Marketing Research Overview
  • Quantitative and Qualitative Research
  • Primary Research
  • Secondary Research
  • Determining the Right Marketing Strategy
  • What is a Marketing Information System?
  • What are Decision Support Systems?
  • What are Marketing Models?
  • What is a Marketing Dashboard?
  • What Kinds of Data can we Use?
  • Methods of Collecting Data
  • What are Focus Groups?
  • What is Group Think?
  • What are Scanner Data?
  • What is Web Tracking?
  • What is Ethnography?
  • What is Experimental` Research?
  • What is Use of Statistics
  • What Distorts the Results of Marketing Research?
  • Challenges of International Market Research?
decision support system

Was this article helpful?

Yes
No

Related Articles

  • Relationships in Marketing - Explained
  • Kano Analysis - Explained
  • Marketing Program - Explained
  • 7Ps of Marketing - Explained



©2011-2021. The Business Professor, LLC.
  • Privacy

  • Questions

Definition by Author

0
0
Expand