Implementing adaptive strategies of decision support systems during crises

Abstract

A typical Decision Support System requires data access, a model enhanced with proper machine learning algorithms and a user interface. So, thanks to the development of fast machine learning algorithms and big data, Decision Support Systems may be used as Executive Information Systems in practice to support the decisions of executives. With the improvement of science and technology, it has become more feasible to store large amounts of data both on local and remote databases. New and robust machine learning algorithms are available to process this data and extract information to support decision makers and decision-making processes like future risk management, investment plans, predicting opportunities in the sector, long-term recruitment plans, and employee training programs. In this chapter, decision support systems have been presented in general. Additionally, some details have been given about how to use decision support systems and for what business purposes they may be exploited by the top management.