Comsats University, Islamabad: Introduction To Management Assignment #01

This document contains two assignment questions from COMSATS University regarding management. [1] It discusses how big data can help organizations make more effective decisions. Large datasets from various sources can provide insights into customer behavior, operations, and more to help strategic planning. [2] It compares emotional intelligence and artificial intelligence, noting that AI relies on machines while EI relies on human brains. For official decision making, AI is argued to be more effective due to its ability to consider many factors without fatigue or bias. However, EI may be better for personal decisions due to the role of empathy.

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Comsats University, Islamabad: Introduction To Management Assignment #01

Uploaded by

Manal Rizwan

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Download as DOCX, PDF, TXT or read online on Scribd

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COMSATS UNIVERSITY, ISLAMABAD

SUBJECT: Introduction to Management

TASK: Assignment #01

Submitted to:

Ms. Salima Hafiz

Submitted by:

Maimoona Noor (SP19-BSE-064)

Manal Rizwan (SP19-BSE-066)

Submitted on:

October 6th, 2020

Department of Computer Science, Islamabad Campus

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Question 01:
How big data helpful in effective decision making within an
organization?

 Big Data:

Big data is a collection of large data and it keeps on increasing time by time it is so
large that it cannot be managed easily.

“The term Big Data is essentially a large amount of data stored at one place which
is referred as ‘Data Warehouse’. Any data of the label content, the organizations
are beginning to explore and understand the data in new ways and also to help in
the business development.”

Advantages of Big Data in organizations:

It helps in improving customer experiences

• It increases revenue by enhancing services
• Durable and Malleable services can be provided
• It gives the opportunity to utilize the assets and maximize its availability
• It eventually improves operational efficiency
Organizations that pays more attention towards using big data and
analytics to help drive their marketing, sales, and operations improvement gain a
competitive
advantage.

Effectiveness of Big data in decision making:

In the last few years, with advent of big data, the information requirements of
executives have changed. In addition to traditional datasets described above, there
are large datasets coming from variety of sources in structured, semi-structured or
unstructured forms. There are several ways in which firms can tap value from
these datasets to make strategic, tactical and operational decisions. Business
transaction data when mined for association rules provide key insights for decision
makers about products bought together or predicting demand for certain items.
Getting an understanding of patterns helps retailers such as Wal-Mart to redesign
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their isles and placement of products together leading to improved sales. Bank get
to understand their customer relationship using big data gathered through variety
of sources They create complete profile of customer journey’s using mix of
structured, semi-structured and unstructured data originating from call centre logs,
website clicks, transaction records, ATM transactions, clickstreams etc. This
profile helps them to understand reasons for customer attrition, correlating
journeys with customer opportunities and problems.

Question no 02:
What is the difference between emotional intelligence with artificial
intelligence? Which intelligence is more effective in decision making?

 Emotional Intelligence:

The concept of Emotional Intelligence became prominent in the late 1980’s.

Emotional intelligence deals specifically with one’s ability to perceive, understand,
manage, and express emotion within oneself and in dealing with others.

 Artificial Intelligence:

While on the other hand, the idea of Artificial Intelligence as “the simulation of
human intelligence as processed by machines,” is an idea that has been stored in
the collective consciousness of humanity since time immemorial. Thus, the ability
to give mind to matter, is ingrained in the human psyche is artificial intelligence.

Difference between emotional intelligence and artificial intelligence:

The key difference between EI and AI is human brain and machines. As emotional
intelligence is totally based on working of a human brain while artificial
intelligence is totally dependent on machines. So, emotional intelligence separates
us from the machines. Machines are restricted while human brain is flexible. What
humans can offer to the world that machines cannot is the ability to relate to the
people around us. Machines will have to learn how to develop their capacity to
understand others as well as grow their ability for compassion and empathy in
order to be on the level of humans.

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Which intelligence is more effective in decision making?

Decision making remains one of the decisive tests for leadership in new
entrepreneurs. Emotions and Intelligence are a co-related phenomenon therefore,
emotions must be taken into consideration for designing truly intelligent agent.
But AI promises a radical transformation of the organization, AI is more organized
and sophisticated. Following are the reasons why AI is more effective.
1. Less decision fatigues
When we’re faced with many decisions to make within a short period of time,
quality declines because we gradually deplete our mental energy. But AI promises
less decision fatigue because machines can make infinite number of decisions per
day.

2. Multitasking
In case of making more complex decisions we need to look at different aspects
thoroughly at a time so, this situation may lead decision makers to take disastrous
decisions. While on the other hand, machine can easily handle multiple inputs
without exhaustion or confusion.

3. Better than human judgement

AI sees the facts, the feasibility of available options/ resources, and chooses the
best pathway. Emotional intelligence involves personal human interference which
might be good for personal decision but not in decision making process as a whole.

Hence for official work, AI is best. It focuses on facts, objective flow and makes
the most efficient and effective decision. But in personal life and interpersonal
relationship decisions, EI takes the win.

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