A Knowledge Management Framework for Expert Decision Making Essay

A Knowledge Management Framework for Expert Decision Making - Essay Example tructured analytics provides a repository of structured data in the form of presentable reports and charts which facilitates easy decision making .Off late organizations use variety of tools and methods to perform analysis on structured data as per their requirements in various fields like finance , supply chain management , forecasting etc Data is available for an organization from various unstructured sources like emails, web sites, news articles, government notices, pre existing company records etc. Though data available from these sources are useful they are haphazardly organized and hence it becomes very difficult for various stake holders to understand and take a well informed decision. In order to organize the available unorganized data organizations make use of Information Technology for data structuring which can be defined as ‘As a specialized format for organizing and storing data. General data structure types include the array, the file, the record, the table, the tree, and so on. Any data structure is designed to organize data to suit a specific purpose so that it can be accessed and worked with in appropriate ways. In computer programming, a data structure may be selected or designed to store data for the purpose of working on it with various algorithms’. Data once structured are used for creating reports and charts through IT applications / tools which mine the available structured data as per user’s requirement. These IT applications / tools are very user friendly and customizable. In modern day’s business, structured analytics is utilized in building domain specific tools which applies domain specific formulas and calculations over voluminous data which is either pre existing or acquired over runtime. Some of the prominent and generic analytics tools used are stock trend charts, web site hit ratio analytics, foreign exchange charts etc. These tools provide customized looks ups, charts, statistical forecasts, etc. The core development of