Home > Terms > English (EN) > decision support system (DSS)

decision support system (DSS)

1. (marketing research definition) A coordinated collection of data, system tools, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and the environment and turns it into a basis for making management decisions. 2. (models definition) A system, usually based on a model and computer software package, that describes the implications of specific marketing decisions and/or recommends specific marketing actions, using a set of input information. This information may either reside permanently in the DSS or be input for the particular scenario of interest (or both). The information can consist of primary information (e.g., sales and cost information from company records, or subjective judgments by managers about the likely impact of increased advertising spending) and/or secondary information (e.g., sales of competitors' products from a syndicated database constructed via store audits). An important aspect of many decision support systems is the facilitation of "what if" analyses; i.e., the sensitivity of optimal marketing strategy to the assumptions in the input information.

0
  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Marketing
  • Category: Advertising
  • Company:
  • Product:
  • Acronym-Abbreviation:
Collect to Blossary

Member comments

You have to log in to post to discussions.

Terms in the News

Billy Morgan

Sports; Snowboarding

The British snowboarder Billy Morgan has landed the sport’s first ever 1800 quadruple cork. The rider, who represented Great Britain in the 2014 Winter Olympics in Sochi, was in Livigno, Italy, when he achieved the man-oeuvre. It involves flipping four times, while body also spins with five complete rotations on a sideways or downward-facing axis. The trick ...

Marzieh Afkham

Broadcasting & receiving; News

Marzieh Afkham, who is the country’s first foreign ministry spokeswoman, will head a mission in east Asia, the state news agency reported. It is not clear to which country she will be posted as her appointment has yet to be announced officially. Afkham will only be the second female ambassador Iran has had. Under the last shah’s rule, Mehrangiz Dolatshahi, a ...

Weekly Packet

Language; Online services; Slang; Internet

Weekly Packet or "Paquete Semanal" as it is known in Cuba is a term used by Cubans to describe the information that is gathered from the internet outside of Cuba and saved onto hard drives to be transported into Cuba itself. Weekly Packets are then sold to Cuban's without internet access, allowing them to obtain information just days - and sometimes hours - after it ...

Asian Infrastructure Investment Bank (AIIB)

Banking; Investment banking

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution established to address the need in Asia for infrastructure development. According to the Asian Development Bank, Asia needs $800 billion each year for roads, ports, power plants or other infrastructure projects before 2020. Originally proposed by China in 2013, a signing ...

Spartan

Online services; Internet

Spartan is the codename given to the new Microsoft Windows 10 browser that will replace Microsoft Windows Internet Explorer. The new browser will be built from the ground up and disregard any code from the IE platform. It has a new rendering engine that is built to be compatible with how the web is written today. The name Spartan is named after the ...

Featured Terms

Silentchapel
  • 0

    Terms

  • 95

    Blossaries

  • 10

    Followers

Industry/Domain: Religion Category: Christianity

Felix of Nicosia

Saint Felix of Nicosia, O.F.M. Cap., (Italian: Felice di Nicosia) (November 5, 1715 – May 31, 1787), was a Capuchin friar, and is honored as a saint ...

Contributor

Featured blossaries

Ciencia

Category: Science   1 1 Terms

Basics of CSS

Category: Education   1 8 Terms