T11.2

Decision support systems have been developed by Information Systems for the past 40 years to create an efficient system to facilitate precise computerized decision making processes. This paper explores the developments of DSS in different types of organizations.

The new group Trading Decision Support Systems was developed as a resource for consumer, institutional traders and investors. “TDSS” focuses on an interface to share ideas, initiate and contribute to discussions, and to expand your social network. For example a few benefits are:

Trading systems: algorithms, methods, technologies, human factor, and statistics.
Software tools to support traders decisions: forecast methods, simulations, back-testing, and optimization.
Technical Analysis: indicators and chart patterns.
Fundamental Analysis: financial ratios and predictive models.

Trading Decision support systems create new ways to lead an organization to prosperity. If systems are automated, it is easy and fast to test them, collect and analyze back-testing and live statistics, and then make necessary improvements. [1]

Another great example of a Decision Support System is IEM Defense solutions. This company created a system to help protect, support, and improve the performance of combatants and military leaders in their homeland or at the battlefield. IEM DSS uses both science and technological-based methods to deliver innovative solutions that can result from a victory or a defeat in our war driven world. IEM Decision Support System is widely known for their safe and realistic training environment that prepares soldiers with on-site decision support making on both chemical warfare and counter-action of a Weapon of Mass Destruction (WMD). Using IEM decision support systems, military leaders can assess threats, calculate risks, and mitigate dangerous situations for force, installation, and critical infrastructure protection. [2]

The computational technologies are changing. Systems empowered by Artificial Intelligence have self-learning abilities that enable them to adapt to market changes. [3] The purpose of this paper is to expose and understand why these developers of decision support software work diligently to create these decision support systems. It may one day save our lives!

References:

1. "Decision Support Systems - Elsevier." Journals - Elsevier. Web. 16 Nov. 2011. .

2. "New Trading Decision Support Systems Group on LinkedIn « Stock Forecast Methods." Stock Forecast Methods. Web. 16 Nov. 2011. .

3. "Defense Solutions, Mixed Reality Training for Soldiers, Counterinsurgency Training, Decision Support Systems - IEM Inc." IEM- Disaster & Emergency Management, Homeland Security, Bioterrorism Preparedness, IT and Software Engineering Solutions - IEM Inc. Web. 16 Nov. 2011. .