Managing Information Overload

Many ICT tools have been created to help in dealing with the information explosion. The following can help in decision making:

♦ Spreadsheets can be used because they present a clear and consistent way of understanding and interpreting data. Data can be keyed into a spreadsheet and can be stored as a template so that updates can be added. If formulae are used, new data can be incorporated and updated easily to give the user figures. A spreadsheet has a number of factors which allow them to:
▪ Produce and display numerical, graphical and statistical data such as:
▫ Sales forecasts
▫ Profit and losses
▫ General expenditure
▫ Wage and salary information
▫ Distribution facts▪ Forecast information
▪ Calculate information
▪ Predict alternative outcomes and behaviour under different conditions
▪ Analyse information
▪ Automate procedures

♦ Simulation software can be used because it is based on the process of imitating a real event with a set of mathematical formulas. It is a program that allows the user to observe an operation through simulation without actually running the program. Simulation software is used widely to design equipment so that the final product will be as close to design specs as possible without expensive in process modification.

♦ Data mining tools can be used because it is the process of sorting through large amounts of data and picking out relevant information. This is the statistical and logical analysis of large sets of transaction data, looking for patterns that can aid decision making.

♦ Exception reporting tools can be used because they find any exceptions which have not been noticed, and therefore warn the user that there maybe a problem with the programme, this will aid in decision making.