DDS, BI, business analytics, and predictive analytics overlap from a business applications perspective; yet, they are different from one another in their underlying methodologies and technologies. It is critical to understand the similarities and differences among those concepts.
Imagine that you are a CFO of a regional bank that has had exposure to subprime mortgage. You need to understand how to use Decision Support Systems (DSS), Business Intelligence (BI), business analytics, and predictive analytics to ensure that your bank has the right risk management practice to prevent any significant damage from subprime mortgage or other risky asset or investment.
Write a four to five (4-5) page paper in which you:
Compare and contrast the similarities and differences among DDS, BI, business analytics, and predictive analytics in terms of their respective business scope and origins / histories.
Compare and contrast the methodologies used in DDS, BI, business analytics, and predictive analytics.
Compare and contrast the technologies used in DDS, BI, business analytics, and predictive analytics.
Use the subprime mortgage as an example and explain how you would use DDS, BI, business analytics, and predictive analytics to ensure that your company can make profits from its investment and control risks at the same time.
Evaluate the capabilities of DSS in your dealing with subprime mortgage.