DATA ANALYSIS, FUNDAMENTAL FACTOR IN THE ELABORATION OF THE TOP ORGANIZATIONAL MANAGERIAL DECISION

Marian Sorin Ionescu and Olivia Negoita

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2020, vol. 14, issue 1, 677-687

Abstract: The processes for the elaboration of the top modern organizational managerial decision are characterized by a high degree of complexity and uncertainty. The high financial sustainability and their implicit strategic consequences determined on long-terms are only two relevant parameters identified in this scientific communication. Also the following components are monitored as theoretical, transposable entities, subsequently operational criteria of choosing decisional alternatives: the use of the probability calculus in the decision elaboration processes, influence of the primary decisions on future evolutions, as the decision quantifies the information value, as the attitude towards the risk arising from the business ecosystem affects data analysis. In this paper we comment about the features and the importance of these components in the general framework of Data Analysis.1 We consider and discuss some relevant examples of top decision such as: sending offers of the economic organizations’ contracts, launching policies for new products on the marked – affected by a high uncertainty degree, extension of the production capacities in the financial – banking sector, decision to grant credits at the organizational or individual level, economic organizations providing utilities, strategies appropriate for the environment and economic consequences.

Keywords: data analysis; data mining; data science; deep learning; machine learning (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:14:y:2020:i:1:p:677-687

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