Why Would a Company Use a Decision Support System (DSS)

question 118

Multiple Choice

Why would a company use a decision support system (DSS) ?

• A)It speeds up and simplifies the acquisition of information. 
• B)It only processes security data. 
• C)It helps managers understand problems and potential solutions with sophisticated models. 
• D)It can be used to replace all managerial decision making.

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Definitions:

Compensate

To provide something, typically money, in recognition of loss, suffering, or damage incurred; to make amends.

Actuarial Insurance

The application of statistical and mathematical methods in the insurance industry to calculate risk and determine premiums.

Frequency

The rate at which a repeated event occurs, such as the number of waves that pass a fixed point in a specific amount of time in the context of physics, or the regularity of an occurrence in general terms.

Potential Loss

The possibility of financial detriment or damage in the future.