Meaning of automated decision making

 

 

 

Automated Decision Making

 

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Meaning and definition of automated decision making :

 

Automated Decision Making: Use of computers in decision making. These systems are taking over previously human made decisions in various areas of management. Essentially, computers make decisions on the basis of pre-specified business rules. Yield management systems that automate pricing are common in the airline industry. In the financial services industry, program trading of equities and currencies is taking off. Automated credit approval is quite common in case of banks and mortgage companies. (See Decision support systems)

 

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Meaning and definition of automated decision making
Automated Decision Making