Search results for: decision%20making%20to%20select%20successor
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3782

Search results for: decision%20making%20to%20select%20successor

3782 A Straightforward Approach for Determining the Weights of Decision Makers Based on Angle Cosine and Projection Method

Authors: Qiang Yang, Ping-An Du

Abstract:

Group decision making with multiple attribute has attracted intensive concern in the decision analysis area. This paper assumes that the contributions of all the decision makers (DMs) are not equal to the decision process based on different knowledge and experience in group setting. The aim of this paper is to develop a novel approach to determine weights of DMs in the group decision making problems. In this paper, the weights of DMs are determined in the group decision environment via angle cosine and projection method. First of all, the average decision of all individual decisions is defined as the ideal decision. After that, we define the weight of each decision maker (DM) by aggregating the angle cosine and projection between individual decision and ideal decision with associated direction indicator μ. By using the weights of DMs, all individual decisions are aggregated into a collective decision. Further, the preference order of alternatives is ranked in accordance with the overall row value of collective decision. Finally, an example in a chemical company is provided to illustrate the developed approach.

Keywords: angel cosine, ideal decision, projection method, weights of decision makers

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3781 Complex Decision Rules in the Form of Decision Trees

Authors: Avinash S. Jagtap, Sharad D. Gore, Rajendra G. Gurao

Abstract:

Decision rules become more and more complex as the number of conditions increase. As a consequence, the complexity of the decision rule also influences the time complexity of computer implementation of such a rule. Consider, for example, a decision that depends on four conditions A, B, C and D. For simplicity, suppose each of these four conditions is binary. Even then the decision rule will consist of 16 lines, where each line will be of the form: If A and B and C and D, then action 1. If A and B and C but not D, then action 2 and so on. While executing this decision rule, each of the four conditions will be checked every time until all the four conditions in a line are satisfied. The minimum number of logical comparisons is 4 whereas the maximum number is 64. This paper proposes to present a complex decision rule in the form of a decision tree. A decision tree divides the cases into branches every time a condition is checked. In the form of a decision tree, every branching eliminates half of the cases that do not satisfy the related conditions. As a result, every branch of the decision tree involves only four logical comparisons and hence is significantly simpler than the corresponding complex decision rule. The conclusion of this paper is that every complex decision rule can be represented as a decision tree and the decision tree is mathematically equivalent but computationally much simpler than the original complex decision rule

Keywords: strategic, tactical, operational, adaptive, innovative

Procedia PDF Downloads 239
3780 Framework for the Modeling of the Supply Chain Collaborative Planning Process

Authors: D. Pérez, M. M. E. Alemany

Abstract:

In this work a Framework to model the Supply Chain (SC) Collaborative Planning (CP) Process is proposed, and particularly its Decisional view. The main Framework contributions with regards to previous related works are the following, 1) the consideration of not only the Decision view, the most important one due to the Process type, but other additional three views which are the Physical, Organisation and Information ones, closely related and complementing the Decision View, 2) the joint consideration of two interdependence types, the Temporal (among Decision Centres belonging to different Decision Levels) and Spatial (among Decision Centres belonging to the same Decision Level) to support the distributed Decision-Making process in SC where several decision Centres interact among them in a collaborative manner.

Keywords: collaborative planning, decision view, distributed decision-making, framework

Procedia PDF Downloads 429
3779 Decision Making under Strict Uncertainty: Case Study in Sewer Network Planning

Authors: Zhen Wu, David Lupien St-Pierre, Georges Abdul-Nour

Abstract:

In decision making under strict uncertainty, decision makers have to choose a decision without any information about the states of nature. The classic criteria of Laplace, Wald, Savage, Hurwicz and Starr are introduced and compared in a case study of sewer network planning. Furthermore, results from different criteria are discussed and analyzed. Moreover, this paper discusses the idea that decision making under strict uncertainty (DMUSU) can be viewed as a two-player game and thus be solved by a solution concept in game theory: Nash equilibrium.

Keywords: decision criteria, decision making, sewer network planning, decision making, strict uncertainty

Procedia PDF Downloads 511
3778 Decision Traps of Military Leaders

Authors: Ahmet Ali Turk, Muhterem Bayram

Abstract:

In this study, it is intended to determine that what kind of traps military leaders fall into during the decision making and how they make take a measure against them. In the study, the domestic and foreign literature on the military leadership has been reviewed and military decision-making process of the different countries has been introduced and study has been designed by making interviews as a sample with 50 people who had made military leadership. The issues resulting from the literature review that led to wrong decisions of military leaders and the points obtained as a result of interview have been evaluated by comparing. As a result, it has been emerged that the personnel who have made especially military leadership are in tendency of making the wrong decision due to decision traps such as excessive self-confidence, lack of experience, unplanned movement, hasty decision making and prohibitive conditions and also the need for increased situational awareness about this condition has been emerged.

Keywords: military leadership, decision making, military decision making, military decision making traps

Procedia PDF Downloads 316
3777 Youth Intelligent Personal Decision Aid

Authors: Norfiza Ibrahim, Norshuhada Shiratuddin, Siti Mahfuzah Sarif

Abstract:

Decision-making system is used to facilitate people in making the right choice for their important daily activities. For the youth, proper guidance in making important decisions is needed. Their skills in decision-making aid decisions will indirectly affect their future. For that reason, this study focuses on the intelligent aspects in the development of intelligent decision support application. The aid apparently integrates Personality Traits (PT) and Multiple Intelligence (MI) data in development of a computerized personal decision aid for youth named as Youth Personal Decision Aid (Youth PDA). This study is concerned with the aid’s helpfulness based on the hybrid intelligent process. There are four main items involved which are reliability, decision making effort, confidence, as well as decision process awareness. Survey method was applied to the actual user of this system, namely the school and the Institute of Higher Education (IPT)’s students. An establish instrument was used to evaluate the study. The results of the analysis and findings in the assessment indicates a high mean value of the four dimensions in helping Youth PDA to be accepted as a useful tool for the youth in decision-making.

Keywords: decision support, multiple intelligent, personality traits, youth personal decision aid

Procedia PDF Downloads 594
3776 A Ratio-Weighted Decision Tree Algorithm for Imbalance Dataset Classification

Authors: Doyin Afolabi, Phillip Adewole, Oladipupo Sennaike

Abstract:

Most well-known classifiers, including the decision tree algorithm, can make predictions on balanced datasets efficiently. However, the decision tree algorithm tends to be biased towards imbalanced datasets because of the skewness of the distribution of such datasets. To overcome this problem, this study proposes a weighted decision tree algorithm that aims to remove the bias toward the majority class and prevents the reduction of majority observations in imbalance datasets classification. The proposed weighted decision tree algorithm was tested on three imbalanced datasets- cancer dataset, german credit dataset, and banknote dataset. The specificity, sensitivity, and accuracy metrics were used to evaluate the performance of the proposed decision tree algorithm on the datasets. The evaluation results show that for some of the weights of our proposed decision tree, the specificity, sensitivity, and accuracy metrics gave better results compared to that of the ID3 decision tree and decision tree induced with minority entropy for all three datasets.

Keywords: data mining, decision tree, classification, imbalance dataset

Procedia PDF Downloads 79
3775 Adolescents’ Role in Family Buying Decision Making

Authors: Harleen Kaur, Deepika Jindal Singla

Abstract:

Buying decision making is a complicated process, in which consumer’s decision is under the impact of others. The buying decision making is directed in a way that they have to act as customers in the society. Media and family are key socialising agents for adolescents’. Moreover, changes in the socio-cultural environment in India necessitate that adolescents’ influence in family’s buying decision-making should be investigated. In comparison to Western society, Indian is quite different, when compared in terms of family composition and structure, behaviour, values and norms which effect adolescents’ buying decision-making.

Keywords: adolescents, buying behavior, Indian urban families, consumer socialization

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3774 Strategic Decision Making Practice in Croatia: Which Decision Making Style is More Effective?

Authors: Ivana Bulog

Abstract:

Decision making is a vital part of the business world and any other field of human endeavor. Which way a business organization will take, and where that way will lead it, depends on broad range of decisions made by managers in the managerial structure. Strategic decisions are of the greatest importance for organizational success. Although much empirical research has been done trying to describe and explain its nature and effectiveness, knowledge about strategic decision making is still incomplete. This paper explores the nature of strategic decision making in particular setting - in Croatian companies. The main focus of this research is on the style that decision makers on strategic management level are following when making decisions of life importance for their companies. Two main decision making style that explain the way decision maker collects and processes available information and performs all the activities in strategic decision making process were empirical tested: rational and intuitive one. Besides analyzing their existence on strategic management level in Croatian companies, their effectiveness is analyzed as well. Results showed that decision makers at strategic management level are following both styles somewhat equally in order to function effectively, and that intuitive style is more effective when considering decisions outcomes.

Keywords: decision making style, decision making effectiveness, strategic decisions, management sciences

Procedia PDF Downloads 337
3773 Carrying Out the Steps of Decision Making Process in Concrete Organization

Authors: Eva Štěpánková

Abstract:

The decision-making process is theoretically clearly defined. Generally, it includes the problem identification and analysis, data gathering, goals and criteria setting, alternatives development and optimal alternative choice and its implementation. In practice however, various modifications of the theoretical decision-making process can occur. The managers can consider some of the phases to be too complicated or unfeasible and thus they do not carry them out and conversely some of the steps can be overestimated. The aim of the paper is to reveal and characterize the perception of the individual phases of decision-making process by the managers. The research is concerned with managers in the military environment–commanders. Quantitative survey is focused cross-sectionally in the individual levels of management of the Ministry of Defence of the Czech Republic. On the total number of 135 respondents the analysis focuses on which of the decision-making process phases are problematic or not carried out in practice and which are again perceived to be the easiest. Then it is examined the reasons of the findings.

Keywords: decision making, decision making process, decision problems, concrete organization

Procedia PDF Downloads 432
3772 Contribution to the Decision-Making Process for Selecting the Suitable Maintenance Policy

Authors: Nasser Y. Mahamoud, Pierre Dehombreux, Hassan E. Robleh

Abstract:

Industrial companies may be confronted with questions about their choice of maintenance policy. This choice must be guided by several numbers of decision criteria or objectives related to their production or service activities but also to their level of development and their investment prospects. A decision-support methodology to choose a maintenance policy (corrective, systematic or conditional preventive, predictive, opportunistic or not) is proposed to facilitate this choice using the main categories of the most important decision criteria. The different steps of this methodology are illustrated using theoretical case: identification of the different maintenance alternatives, determining the structure of the most important categories of the decision criteria, assessing the different maintenance policies on to the criteria by using an ordinal preference relation, and finally ranking the different maintenance policies.

Keywords: maintenance policy, decision criteria, decision-making process, AHP

Procedia PDF Downloads 296
3771 Evaluation of a Personalized Online Decision Aid for Colorectal Cancer Screening: A Randomized Controlled Trial

Authors: Linda P. M. Pluymen, Mariska M. G. Leeflang, I. Stegeman, Henock G. Yebyo, Anne E. M. Brabers, Patrick M. Bossuyt, E. Dekker, Anke J. Woudstra, Mirjam P. Fransen

Abstract:

Weighing the benefits and harms of colorectal cancer screening can be difficult for individuals. An existing online decision aid was expanded with a benefit-harm analysis to help people make an informed decision about participating in colorectal cancer screening. In a randomized controlled trial, we investigated whether those in the intervention group who used the decision aid with benefit-harm analysis were more certain about their decision than those in the control group who used the decision aid without benefit-harm analysis. Participants were 623 (39% of those invited) men and women aged 45 until 75 years old. Analyses were performed in those 386 participants (62%) who reported to have completed the entire decision aid. No statistically significant differences were observed between intervention and control group in decisional conflict score (mean difference 2.4, 95% CI -0.9, 5.6), clarity of values (mean difference 1.0, 95% CI -4.4, 6.6), deliberation score (mean difference 0.5, 95% CI -0.6, 1.7), anxiety score (mean difference 0.0, 95% CI -0.3, 0.3) and risk perception score (mean difference 0.1, -0.1, 0.3). Adding a benefit-harm analysis to an online decision aid did not improve informed decision making about participating in colorectal cancer screening.

Keywords: benefit-harm analysis, decision aid, informed decision making, personalized decision making

Procedia PDF Downloads 129
3770 The Quotation-Based Algorithm for Distributed Decision Making

Authors: Gennady P. Ginkul, Sergey Yu. Soloviov

Abstract:

The article proposes to use so-called "quotation-based algorithm" for simulation of decision making process in distributed expert systems and multi-agent systems. The idea was adopted from the techniques for group decision-making. It is based on the assumption that one expert system to perform its logical inference may use rules from another expert system. The application of the algorithm was demonstrated on the example in which the consolidated decision is the decision that requires minimal quotation.

Keywords: backward chaining inference, distributed expert systems, group decision making, multi-agent systems

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3769 Preliminary Study of Human Reliability of Control in Case of Fire Based on the Decision Processes and Stress Model of Human in a Fire

Authors: Seung-Un Chae, Heung-Yul Kim, Sa-Kil Kim

Abstract:

This paper presents the findings of preliminary study on human control performance in case of fire. The relationship between human control and human decision is studied in decision processes and stress model of human in a fire. Human behavior aspects involved in the decision process during a fire incident. The decision processes appear that six of individual perceptual processes: recognition, validation, definition, evaluation, commitment, and reassessment. Then, human may be stressed in order to get an optimal decision for their activity. This paper explores problems in human control processes and stresses in a catastrophic situation. Thus, the future approach will be concerned to reduce stresses and ambiguous irrelevant information.

Keywords: human reliability, decision processes, stress model, fire

Procedia PDF Downloads 933
3768 Employing Operations Research at Universities to Build Management Systems

Authors: Abdallah A. Hlayel

Abstract:

Operations research science (OR) deals with good success in developing and applying scientific methods for problem solving and decision-making. However, by using OR techniques, we can enhance the use of computer decision support systems to achieve optimal management for institutions. OR applies comprehensive analysis including all factors that affect on it and builds mathematical modeling to solve business or organizational problems. In addition, it improves decision-making and uses available resources efficiently. The adoption of OR by universities would definitely contributes to the development and enhancement of the performance of OR techniques. This paper provides an understanding of the structures, approaches and models of OR in problem solving and decision-making.

Keywords: best candidates' method, decision making, decision support system, operations research

Procedia PDF Downloads 405
3767 Model for Introducing Products to New Customers through Decision Tree Using Algorithm C4.5 (J-48)

Authors: Komol Phaisarn, Anuphan Suttimarn, Vitchanan Keawtong, Kittisak Thongyoun, Chaiyos Jamsawang

Abstract:

This article is intended to analyze insurance information which contains information on the customer decision when purchasing life insurance pay package. The data were analyzed in order to present new customers with Life Insurance Perfect Pay package to meet new customers’ needs as much as possible. The basic data of insurance pay package were collect to get data mining; thus, reducing the scattering of information. The data were then classified in order to get decision model or decision tree using Algorithm C4.5 (J-48). In the classification, WEKA tools are used to form the model and testing datasets are used to test the decision tree for the accurate decision. The validation of this model in classifying showed that the accurate prediction was 68.43% while 31.25% were errors. The same set of data were then tested with other models, i.e. Naive Bayes and Zero R. The results showed that J-48 method could predict more accurately. So, the researcher applied the decision tree in writing the program used to introduce the product to new customers to persuade customers’ decision making in purchasing the insurance package that meets the new customers’ needs as much as possible.

Keywords: decision tree, data mining, customers, life insurance pay package

Procedia PDF Downloads 391
3766 Career Decision-Making Difficulty and Emotional Quotient: Basis for a Career Guidance Intervention for City College of Angeles

Authors: Rhenan D. Estacio

Abstract:

This research presents the career decision making difficulty and emotional quotient of one hundred fifty (150) college students of City College of Angeles, Academic Year 2016-2017. Independent sample T-test and Pearson r correlation were done to shifter and non-shifter in terms of their career decision making difficulty and emotional quotient. A significant positive correlation revealed (r=.302) on career decision making difficulty and emotional quotient. Also, a significant negative correlation revealed (r=-.329) on career decision making difficulty and a moderating variable which is age. The finding significantly shows that emotional quotient was associated and adds a significant incremental variance with career decision making difficulty. Moreover, age shows a moderating effect on career decision making difficulty by having a significant decline and increment on variables. Furthermore, categorization of career decision making difficulty and emotional quotient of said participants are described in this study. In addition, career guidance interventions were suggested based on the results of this study.

Keywords: career, decision-making, difficulty, emotional, quotient

Procedia PDF Downloads 396
3765 Decision Support System for Optimal Placement of Wind Turbines in Electric Distribution Grid

Authors: Ahmed Ouammi

Abstract:

This paper presents an integrated decision framework to support decision makers in the selection and optimal allocation of wind power plants in the electric grid. The developed approach intends to maximize the benefice related to the project investment during the planning period. The proposed decision model considers the main cost components, meteorological data, environmental impacts, operation and regulation constraints, and territorial information. The decision framework is expressed as a stochastic constrained optimization problem with the aim to identify the suitable locations and related optimal wind turbine technology considering the operational constraints and maximizing the benefice. The developed decision support system is applied to a case study to demonstrate and validate its performance.

Keywords: decision support systems, electric power grid, optimization, wind energy

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3764 Fuzzy Multi-Criteria Decision-Making Based on Ignatian Discernment Process

Authors: Pathinathan Theresanathan, Ajay Minj

Abstract:

Ignatian Discernment Process (IDP) is an intense decision-making tool to decide on life-issues. Decisions are influenced by various factors outside of the decision maker and inclination within. This paper develops IDP in the context of Fuzzy Multi-criteria Decision Making (FMCDM) process. Extended VIKOR method is a decision-making method which encompasses even conflict situations and accommodates weightage to various issues. Various aspects of IDP, namely three ways of decision making and tactics of inner desires, are observed, analyzed and articulated within the frame work of fuzzy rules. The decision-making situations are broadly categorized into two types. The issues outside of the decision maker influence the person. The inner feeling also plays vital role in coming to a conclusion. IDP integrates both the categories using Extended VIKOR method. Case studies are carried out and analyzed with FMCDM process. Finally, IDP is verified with an illustrative case study and results are interpreted. A confused person who could not come to a conclusion is able to take decision on a concrete way of life through IDP. The proposed IDP model recommends an integrated and committed approach to value-based decision making.

Keywords: AHP, FMCDM, IDP, ignatian discernment, MCDM, VIKOR

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3763 A Phenomenological Framework of Unconscious Cognition on Judicial Decision Making

Authors: Mariam Shah

Abstract:

This paper will examine the potential influence and role of unconscious cognition on judicial decision making. The theoretical underpinnings of this paper rest on phenomenological theory grounded predominantly in Schutzian phenomenology. Aspects of Husserlian and Gadamerian phenomenology will be included within the phenomenological framework put forward in this paper, in an attempt to provide a more complete and thorough account of how unconscious cognition can influence judicial decision making. This paper has far reaching implications, as the framework provides a foundation for unconscious cognitive factors which can work to influence decision making more generally.

Keywords: decision making, Gadamer, Gadamerian, Husserl, Husserlian, judicial decision making, phenomenology, Schutz, Schutzian

Procedia PDF Downloads 376
3762 Decision Support Tool for Green Roofs Selection: A Multicriteria Analysis

Authors: I. Teotónio, C.O. Cruz, C.M. Silva, M. Manso

Abstract:

Diverse stakeholders show different concerns when choosing green roof systems. Also, green roof solutions vary in their cost and performance. Therefore, decision-makers continually face the difficult task of balancing benefits against green roofs costs. Decision analysis methods, as multicriteria analysis, can be used when the decision‑making process includes different perspectives, multiple objectives, and uncertainty. The present study adopts a multicriteria decision model to evaluate the installation of green roofs in buildings, determining the solution with the best trade-off between costs and benefits in agreement with the preferences of the users/investors. This methodology was applied to a real decision problem, assessing the preferences between different green roof systems in an existing building in Lisbon. This approach supports the decision-making process on green roofs and enables robust and informed decisions on urban planning while optimizing buildings retrofitting.

Keywords: decision making, green roofs, investors preferences, multicriteria analysis, sustainable development

Procedia PDF Downloads 145
3761 Financial Literacy as an Important Skill for Household Financial Decision Making

Authors: Rimac Smiljanic Ana, Pepur Sandra, Bulog Ivana

Abstract:

Financial decision-making in the household is not simple, and it demands that the decision-maker has proper knowledge and skills. Usually, high uncertainty, risk, and stress surround household financial decision-making since it is extremely important and critical for household wealth accumulation and for the well-being of all household members. Generally, skilful people tend to have higher confidence in certain tasks they perform, and they achieve better results. Therefore, in the household context, the possession of certain skills by the ones who make financial decisions for the household is of particular importance. This paper addresses financial literacy as an important skill for household decision-making. Apart from financial literacy, the paper also considers other factors, such as employment, education, and age, as significant for household financial decision-making. The analysis is based on quantitative individual-level survey data. The data collection was conducted during January and February 2021 in Croatia through an online survey. To reach a wide variety of participants, the snowball sampling method was used. The result revealed interesting and somewhat puzzling results. Our results point to the importance of financial literacy skills for household decision-making.

Keywords: skill, financial literacy, decision-making, household financijal decision making

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3760 A Novel PSO Based Decision Tree Classification

Authors: Ali Farzan

Abstract:

Classification of data objects or patterns is a major part in most of Decision making systems. One of the popular and commonly used classification methods is Decision Tree (DT). It is a hierarchical decision making system by which a binary tree is constructed and starting from root, at each node some of the classes is rejected until reaching the leaf nods. Each leaf node is a representative of one specific class. Finding the splitting criteria in each node for constructing or training the tree is a major problem. Particle Swarm Optimization (PSO) has been adopted as a metaheuristic searching method for finding the best splitting criteria. Result of evaluating the proposed method over benchmark datasets indicates the higher accuracy of the new PSO based decision tree.

Keywords: decision tree, particle swarm optimization, splitting criteria, metaheuristic

Procedia PDF Downloads 368
3759 Conceptualizing Thoughtful Intelligence for Sustainable Decision Making

Authors: Musarrat Jabeen

Abstract:

Thoughtful intelligence offers a sustainable position to enhance the influence of decision-makers. Thoughtful Intelligence implies the understanding to realize the impact of one’s thoughts, words and actions on the survival, dignity and development of the individuals, groups and nations. Thoughtful intelligence has received minimal consideration in the area of Decision Support Systems, with an end goal to evaluate the quantity of knowledge and its viability. This pattern degraded the imbibed contribution of thoughtful intelligence required for sustainable decision making. Given the concern, this paper concentrates on the question: How to present a model of Thoughtful Decision Support System (TDSS)? The aim of this paper is to appreciate the concepts of thoughtful intelligence and insinuate a Decision Support System based on thoughtful intelligence. Thoughtful intelligence includes three dynamic competencies: i) Realization about long term impacts of decisions that are made in a specific time and space, ii) A great sense of taking actions, iii) Intense interconnectivity with people and nature and; seven associate competencies, of Righteousness, Purposefulness, Understanding, Contemplation, Sincerity, Mindfulness, and Nurturing. The study utilizes two methods: Focused group discussion to count prevailing Decision Support Systems; 70% results of focus group discussions found six decision support systems and the positive inexistence of thoughtful intelligence among decision support systems regarding sustainable decision making. Delphi focused on defining thoughtful intelligence to model (TDSS). 65% results helped to conceptualize (definition and description) of thoughtful intelligence. TDSS is offered here as an addition in the decision making literature. The clients are top leaders.

Keywords: thoughtful intelligence, sustainable decision making, thoughtful decision support system

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3758 An Integreated Intuitionistic Fuzzy ELECTRE Model for Multi-Criteria Decision-Making

Authors: Babek Erdebilli

Abstract:

The aim of this study is to develop and describe a new methodology for the Multi-Criteria Decision-Making (MCDM) problem using IFE (Elimination Et Choix Traduisant La Realite (ELECTRE) model. The proposed models enable Decision-Makers (DMs) on the assessment and use Intuitionistic Fuzzy Numbers (IFN). A numerical example is provided to demonstrate and clarify the proposed analysis procedure. Also, an empirical experiment is conducted to validation the effectiveness.

Keywords: multi-criteria decision-making, IFE, DM’s, fuzzy electre model

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3757 Factors Affecting Employee Decision Making in an AI Environment

Authors: Yogesh C. Sharma, A. Seetharaman

Abstract:

The decision-making process in humans is a complicated system influenced by a variety of intrinsic and extrinsic factors. Human decisions have a ripple effect on subsequent decisions. In this study, the scope of human decision making is limited to employees. In an organisation, a person makes a variety of decisions from the time they are hired to the time they retire. The goal of this research is to identify various elements that influence decision-making. In addition, the environment in which a decision is made is a significant aspect of the decision-making process. Employees in today's workplace use artificial intelligence (AI) systems for automation and decision augmentation. The impact of AI systems on the decision-making process is examined in this study. This research is designed based on a systematic literature review. Based on gaps in the literature, limitations and the scope of future research have been identified. Based on these findings, a research framework has been designed to identify various factors affecting employee decision making. Employee decision making is influenced by technological advancement, data-driven culture, human trust, decision automation-augmentation, and workplace motivation. Hybrid human-AI systems require the development of new skill sets and organisational design. Employee psychological safety and supportive leadership influences overall job satisfaction.

Keywords: employee decision making, artificial intelligence (AI) environment, human trust, technology innovation, psychological safety

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3756 Financial Decision-Making among Finance Students: An Empirical Study from the Czech Republic

Authors: Barbora Chmelíková

Abstract:

Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: financial decision-making, financial literacy, personal finance, university students

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3755 Artificial Neural Networks with Decision Trees for Diagnosis Issues

Authors: Y. Kourd, D. Lefebvre, N. Guersi

Abstract:

This paper presents a new idea for fault detection and isolation (FDI) technique which is applied to industrial system. This technique is based on Neural Networks fault-free and Faulty behaviors Models (NNFM's). NNFM's are used for residual generation, while decision tree architecture is used for residual evaluation. The decision tree is realized with data collected from the NNFM’s outputs and is used to isolate detectable faults depending on computed threshold. Each part of the tree corresponds to specific residual. With the decision tree, it becomes possible to take the appropriate decision regarding the actual process behavior by evaluating few numbers of residuals. In comparison to usual systematic evaluation of all residuals, the proposed technique requires less computational effort and can be used for on line diagnosis. An application example is presented to illustrate and confirm the effectiveness and the accuracy of the proposed approach.

Keywords: neural networks, decision trees, diagnosis, behaviors

Procedia PDF Downloads 442
3754 Decision Quality as an Antecedent to Export Performance. Empirical Evidence under a Contingency Theory Lens

Authors: Evagelos Korobilis-Magas, Adekunle Oke

Abstract:

The constantly increasing tendency towards a global economy and the subsequent increase in exporting, as a result, has inevitably led to a growing interest in the topic of export success as well. Numerous studies, particularly in the past three decades, have examined a plethora of determinants to export performance. However, to the authors' best knowledge, no study up to date has ever considered decision quality as a potential antecedent to export success by attempting to test the relationship between decision quality and export performance. This is a surprising deficiency given that the export marketing literature has long ago suggested that quality decisions are regarded as the crucial intervening variable between sound decision–making and export performance. This study integrates the different definitions of decision quality proposed in the literature and the key themes incorporated therein and adapts it to an export context. Apart from laying the conceptual foundations for the delineation of this elusive but very important construct, this study is the first ever to test the relationship between decision quality and export performance. Based on survey data from a sample of 189 British export decision-makers and within a contingency theory framework, the results reveal that there is a direct, positive link between decision quality and export performance. This finding opens significant future research avenues and has very important implications for both theory and practice.

Keywords: export performance, decision quality, mixed methods, contingency theory

Procedia PDF Downloads 55
3753 Marketing Mix, Motivation and the Tendency of Consumer Decision Making in Buying Condominium

Authors: Bundit Pungnirund

Abstract:

This research aimed to study the relationship between marketing mix attitudes, motivation of buying decision and tendency of consumer decision making in buying the condominiums in Thailand. This study employed by survey and quantitative research. The questionnaire was used to collect the data from 400 sampled of customers who interested in buying condominium in Bangkok. The descriptive statistics and Pearson’s correlation coefficient analysis were used to analyze data. The research found that marketing mixed factors in terms of product and price were related to buying decision making tendency in terms of price and room size. Marketing mixed factors in terms of price, place and promotion were related to buying decision making tendency in term of word of mouth. Consumers’ buying motivation in terms of social acceptance, self-esteemed and self-actualization were related to buying decision making tendency in term of room size. In addition, motivation in self-esteemed was related to buying decision making tendency within a year.

Keywords: condominium, marketing mix, motivation, tendency of consumer decision making

Procedia PDF Downloads 273