Concentrating on the Russian model, this book reflects the leading practical experience of decision making in modern business systems and presents innovative technologies and perspectives to optimize this process.

This book examines various decision-making processes, influences and its role in business management. The chapters describe the original decision-making approach based on joint use of the multi-criteria method and the method of group preferences in business management; a discussion on the internationalization decision-making process of small-medium enterprises (SMEs); and an examination on the efficiency of computer decision support systems by developing a set of universal analytic models for increasing the efficiency of fuzzy input information processing.

Decision Making in Systems Engineering and Management is a comprehensive textbook that provides a logical process and analytical techniques for fact-based decision making for the most challenging systems problems. Grounded in systems thinking and based on sound systems engineering principles, the systems decisions process (SDP) leverages multiple objective decision analysis, multiple attribute value theory, and value-focused thinking to define the problem, measure stakeholder value, design creative solutions, explore the decision trade off space in the presence of uncertainty, and structure successful solution implementation. In addition to classical systems engineering problems, this approach has been successfully applied to a wide range of challenges including personnel recruiting, retention, and management; strategic policy analysis; facilities design and management; resource allocation; information assurance; security systems design; and other settings whose structure can be conceptualized as a system.

This book analyzes some of the most recent advances in the field of decision making and fuzzy systems applied to business and economics presented at the International Conference on Modeling and Simulation (MS'12 Rio de Janeiro), 10–13 December, 2012. In this conference, a special focus is given to the fundamental concept of sustainable development. Other key applications in business, economics and finance are also considered. In general, it is very useful for graduate students and researchers interested in pursuing research that combines quantitative techniques such as modeling and simulation and decision making with business and economic problems. This is especially useful when dealing with complex environments where the information is very uncertain and additional mathematical and statistical techniques are needed in order to understand the specific situations considered.

Specifics of Decision Making in Modern Business Systems focuses on the regularities and tendencies that are peculiar for the modern Russian practice of decision making in business systems, as well as the authors’ solutions for its optimization in view of new challenges and possibilities.

"A very rich book sprinkled with real-life examples as well as battle-tested advice.” —Pierre Haren, VP ILOG, IBM "James does a thorough job of explaining Decision Management Systems as enablers of a formidable business transformation.” —Deepak Advani, Vice President, Business Analytics Products and SPSS, IBM Build Systems That Work Actively to Help You Maximize Growth and Profits Most companies rely on operational systems that are largely passive. But what if you could make your systems active participants in optimizing your business? What if your systems could act intelligently on their own? Learn, not just report? Empower users to take action instead of simply escalating their problems? Evolve without massive IT investments? Decision Management Systems can do all that and more. In this book, the field’s leading expert demonstrates how to use them to drive unprecedented levels of business value. James Taylor shows how to integrate operational and analytic technologies to create systems that are more agile, more analytic, and more adaptive. Through actual case studies, you’ll learn how to combine technologies such as predictive analytics, optimization, and business rules—improving customer service, reducing fraud, managing risk, increasing agility, and driving growth. Both a practical how-to guide and a framework for planning, Decision Management Systems focuses on mainstream business challenges. Coverage includes Understanding how Decision Management Systems can transform your business Planning your systems “with the decision in mind” Identifying, modeling, and prioritizing the decisions you need to optimize Designing and implementing robust decision services Monitoring your ongoing decision-making and learning how to improve it Proven enablers of effective Decision Management Systems: people, process, and technology Identifying and overcoming obstacles that can derail your Decision Management Systems initiative