Paper 24

Methods and Algorithms of Data and Machine
Learning usage in Management Decision

Making Support Systems
Neeraj goyal1 , anand pandey2 nd Anil Fatehpuriya3
ITM University, Gwalior

AnandPandey@itmuniversity.ac.in
neeraj.goyal.ca@itmuniversity.ac.in
anilfatehpuriya@itmuniversity.ac.in
Abstract This paper explores methods and algorithms of data and machine
learning usage in management decision-making support systems (MDMSS). It
investigates how data-driven techniques and machine learning algorithms
enhance the accuracy, efficiency, and effectiveness of decision-making
processes in management. The study discusses various applications and
implications of these methods, highlighting their role in improving decision
outcomes and organizational performance.
Keyword: Data and Machine Learning, Management Decision Making,
Decision Support Systems, Algorithms, Predictive Modeling
1. Introduction
In today's dynamic business environment, effective decision-making is

crucial for organizational success and competitiveness. Management
Decision Making Support Systems (MDMSS) leverage data and
machine learning algorithms to provide managers with valuable
insights and predictions. This paper explores the integration of data-
driven techniques and machine learning in MDMSS, aiming to enhance
decision-making processes by enabling informed, data-driven decisions
across various domains and industries.
2. Background Study
The field of decision support systems (DSS) has evolved significantly,

incorporating advanced analytics and machine learning to enhance
decision-making capabilities. Traditional decision support systems
relied on structured data and rule-based algorithms to generate insights.
However, the advent of big data and machine learning has enabled
organizations to analyze vast amounts of data, including unstructured
and real-time data, to derive actionable insights. Machine learning
algorithms such as decision trees, neural networks, and ensemble
methods have been increasingly applied to predict outcomes, identify
patterns, and optimize decisions in complex and uncertain
environments.
3. Existing Methods
Existing methods in MDMSS involve the application of machine

learning algorithms for predictive modeling, classification, and
clustering tasks. Supervised learning algorithms, such as logistic
regression and support vector machines, are utilized for predicting
outcomes based on historical data. Unsupervised learning techniques,
including clustering and association rule mining, help uncover hidden
patterns and relationships within data. Furthermore, reinforcement
learning algorithms enable systems to learn and optimize decisions
based on feedback from their environments. These methods enhance
decision-making by providing managers with data-driven insights,
improving resource allocation, and mitigating risks.
Conclusion
The integration of data and machine learning algorithms in

Management Decision Making Support Systems represents a
significant advancement in leveraging data-driven techniques to
improve decision outcomes and organizational performance. By
automating decision processes, optimizing resource allocation, and
predicting outcomes accurately, these systems enable managers to
make informed decisions quickly and effectively. Future research may
focus on enhancing the interpretability and transparency of machine
learning models in decision support systems, addressing ethical
considerations, and optimizing algorithms for specific management
domains and industries.
References
 Turban, E., Sharda, R., Delen, D., & King, D. (2015).

Business Intelligence and Analytics: Systems for Decision
Support. Pearson Education.
 Hastie, T., Tibshirani, R., & Friedman, J. (2009). The
Elements of Statistical Learning: Data Mining, Inference, and
Prediction. Springer Science & Business Media.
 Davenport, T. H., & Harris, J. G. (2007). Competing on
Analytics: The New Science of Winning. Harvard Business
Press.
 Russell, S. J., & Norvig, P. (2016). Artificial Intelligence: A
Modern Approach (3rd ed.). Pearson Education.

Paper 24

Uploaded by

Copyright:

Available Formats

Paper 24

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Paper 24

Uploaded by

Copyright:

Available Formats

Methods and Algorithms of Data and Machine

Learning usage in Management Decision

ITM University, Gwalior

In today's dynamic business environment, effective decision-making is

The field of decision support systems (DSS) has evolved significantly,

Existing methods in MDMSS involve the application of machine

The integration of data and machine learning algorithms in

 Turban, E., Sharda, R., Delen, D., & King, D. (2015).

You might also like