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Decision-Making Support
The role of the market research function in providing insights that support strategic business decisions.
Implications
Tools, systems, and methodologies used to assist individuals or groups in making informed decisions, often involving data analytics, simulation models, and collaborative platforms, crucial for complex and high-stakes decisions.
Example
Example: A retail chain implements a decision-making support system that provides real-time sales data, customer insights, and inventory levels, helping managers make informed decisions about pricing and promotions.
Related Terms
Different from decision-making rights, which define who can make decisions, support systems provide the information and tools needed to make those decisions effectively.
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