An executive decision support system is a type of computerized information system designed to aid business executives in the decision-making process. Such executives are often asked to process information coming from multiple sources before eventually taking all of the information and attempting to make sense of it. By using an support system, executives have all of the necessary information at their fingertips and can break that information down in a much more efficient manner. These systems are generally formatted as computer software which is easy to use, quickly responsive to new information, and available to other managers who are expected to provide input to top executives.
Chief executive officers and other top business executives are often paid high salaries to perform their roles as the heads of the lucrative companies and corporations. The main reason that they command such high salaries is the fact that they are able to make important decisions involving large sums of money and the financial fates of employees and stockholders. Those decisions wouldn't be possible without some assistance, and, increasingly, that assistance comes for technology. An executive decision support system is one example of this assistance.
The main goal of this type of support system is to synthesize all of the different sources of pertinent information into concise form that is easily understood. This can take several different forms, such as graphs, pie charts, or even reports prepared by lower employees who have access to the information system as well. In this way, the executive can get down to the heart of the matter and make a command decision.
For executives who prefer to take a hands-on approach with such technology, the executive decision support system should be easy enough to use that it can be manipulated to produce the information the executive desires. In addition, it must be able to stay current with the most recent information. After all, an executive making a decision based on outdated information can make a crucial error.
There are many different types of computer software available to those companies interested in installing an executive decision support system. As technology continues to advance, these systems are becoming increasingly functional and malleable to changing business needs. It is often useful for executives to give key employees access to the system as well. By doing this, there is a chance for other opinions on the information to be factored into the overall decision-making process.