• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.457-464
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• 2020

This study aims to recognize customers' real sentiment and then discover the data-driven insights for strategic decision-making in the financial sector of Saudi Arabia. The data was collected from the social media (Facebook and Twitter) from start till October 2018 in financial companies (NCB, Al Rajhi, and Bupa) selected in the Kingdom of Saudi Arabia according to criteria. Then, it was analyzed using a sentiment analysis, one of data mining techniques. All three companies have similar likes and followers as they serve customers as B2B and B2C companies. In addition, for Al Rajhi no negative sentiment was detected in English posts, while it can be seen that Internet penetration of both banks are higher than BUPA, rarely mentioned in few hours. This study helps to predict the overall popularity as well as the perception or real mood of people by identifying the positive and negative feelings or emotions behind customers' social media posts or messages. This research presents meaningful insights in data-driven approaches using a specific data mining technique as a tool for corporate decision-making and forecasting. Understanding what the key issues are from customers' perspective, it becomes possible to develop a better data-based global strategies to create a sustainable competitive advantage.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.535-543
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• 2020

Investors from the whole world are looking for those stock markets that are less affected by interest rates. Pakistan is a good place to invest and the investors from the whole world are considering Pakistan for future ventures. The current study, therefore, aims to analyze the factors affecting investors' decision making in Pakistan with the interaction effect of locus of control. The primary data are gathered from 300 respondents. Structural equation modelling (SEM-PLS) is used to analyze the interactions among variables. The study finds positive impact of availability and representative biases on investment decision making. The study could not find any moderating role of locus of control. The results imply that decisions made by Pakistani investors are driven by the most easily or currently available information and they trust on the information obtained from family and friends without any authentication and verification. One possible description of insignificant moderation effect of locus of control can be the sample traits used in the study, e.g., personal characteristics, that change from culture to culture. Another description of these findings may be the association between heuristic biases, including availability, representative and psychological biases and decision-making regarding investment is not personality specific.

• International Journal of Advanced Culture Technology
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• v.12 no.3
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• pp.140-147
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• 2024

Oil and gas industry is a unique sector with complex activities, long supply chains and strict rules for the business. It is important to use enterprise resource planning (ERP) systems to address these challenges as it helps in simplifying operations, improving efficiency and facilitating evidence-based decision making. Nonetheless, successful integration of ERP systems in this industry involves careful planning, customization and alignment with specific business processes including regulatory requirements. Several critical factors, such as strong change management, support of top managers and training that works have been identified in the study. Amongst the hurdles are employee resistance towards the changes, data migration complications and integration with existing systems. Nonetheless, NOCL's ERP implementation resulted in significant improvements in operating efficiency, better data visibility and compliance management. It also led to a decrease in financial reporting timeframes, more accurate inventory tracking and improved decision-making capabilities. The study provides useful insights on how to optimize oil and gas sector ERP implementations; key among them is practical advice including strengthening change management strategies, prioritizing data security and collaborating with ERP vendors. The research highlights the importance of tailoring ERP solutions to specific industry needs as well as emphasizes the strategic role of ongoing monitoring/feedback for future benefits sustainability.

• Journal of Information Processing Systems
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• v.20 no.3
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• pp.285-295
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• 2024

Driven by the vague assessment big data, a product service system (PSS) evaluation method is developed based on a hybrid model of multi-weight combination and improved TOPSIS by relative entropy. The index values of PSS alternatives are solved by the integration of the stakeholders' vague assessment comments presented in the form of trapezoidal fuzzy numbers. Multi-weight combination method is proposed for index weight solving of PSS evaluation decision-making. An improved TOPSIS by relative entropy (RE) is presented to overcome the shortcomings of traditional TOPSIS and related modified TOPSIS and then PSS alternatives are evaluated. A PSS evaluation case in a printer company is given to test and verify the proposed model. The RE closeness of seven PSS alternatives are 0.3940, 0.5147, 0.7913, 0.3719, 0.2403, 0.4959, and 0.6332 and the one with the highest RE closeness is selected as the best alternative. The results of comparison examples show that the presented model can compensate for the shortcomings of existing traditional methods.

• Journal of the East Asian Society of Dietary Life
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• v.15 no.4
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• pp.475-482
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• 2005

As Korea has approached the aging society, older Koreans have become an important force in restaurant sales today. To succeed with this silver market, it is important for restaurant managers to know who they are and which factor influence the older Koreans' eating-out decision making process. The purpose of this study was to investigate the effect of the elderly consumers financial independency on restaurant selection process. Data were collected from 178 older consumers above 55 years old and analyzed using the descriptive statistic analysis, MANOVA, and one-way ANOVA. The results showed that the elderly consumers financial independency significantly influenced the decision making process in determining where they eat out Significant differences were found between high income group and low income group in the Problem Recognition Step(Wilks' Lambda=0.776, F=3.796), Information Search Step(Wilks' Lambda=0.779, F=2.959), Alternative Evaluation Step (I :Wilks' Lambda=0.835, F=1.748/ II :Wilks' Lambda=0.764, F=3.212), and Purchase Decision Step(Wilks' Lambda=0.849, F=2.412), except the Post-Purchase Behavior(Wilks' Lambda=0.933, F=1.179). The more financially independent older consumers were, the more directly they were involved in the eating out decision making process. Older consumers with higher income and more personal property were likely to 'propose to eat out by themselves'(F=10.986), to obtain restaurant information from the 'printed materials'(F=9.707), to consider 'convenient location' as most important factor when they eat out(F=5.594), and to go to 'family restaurant'(F=7.067), 'Japanese restaurant'(F=7.391) and 'fine dining restaurants'(F-=6.382). In conclusion, we found that the elderly consumers financial independency did influence the eating-out decision making process. Considering that older Korean will become a financially independent consumer and will be eating away from home more often, food service operations should actively position themselves for this market and develop the market-driven menus and services to meet their needs and expectations.

• Journal of Internet Computing and Services
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• v.25 no.4
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• pp.7-21
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• 2024

There are various machine learning techniques such as Reinforcement Learning, Deep Learning, Neural Network Learning, and so on. In recent, Large Language Models (LLMs) are popularly used for Generative AI based on Reinforcement Learning. It makes decisions with the most optimal rewards through the fine tuning process in a particular situation. Unfortunately, LLMs can not provide any explanation for how they reach the goal because the training is based on learning of black-box AI. Reinforcement Learning as black-box AI is based on graph-evolving structure for deriving enhanced solution through adjustment by human feedback or reinforced data. In this research, for mutually exclusive decision-making, Mutually Exclusive Learning (MEL) is proposed to provide explanations of the chosen goals that are achieved by a decision on both ends with specified conditions. In MEL, decision-making process is based on the tree-based structure that can provide processes of pruning branches that are used as explanations of how to achieve the goals. The goal can be reached by trade-off among mutually exclusive alternatives according to the specific contextual conditions. Therefore, the tree-based structure is adopted to provide feasible solutions with the explanations based on the pruning branches. The sequence of pruning processes can be used to provide the explanations of the inferences and ways to reach the goals, as Explainable AI (XAI). The learning process is based on the pruning branches according to the multi-dimensional contextual conditions. To deep-dive the search, they are composed of time window to determine the temporal perspective, depth of phases for lookahead and decision criteria to prune branches. The goal depends on the policy of the pruning branches, which can be dynamically changed by configured situation with the specific multi-dimensional contextual conditions at a particular moment. The explanation is represented by the chosen episode among the decision alternatives according to configured situations. In this research, MEL adopts the tree-based learning model to provide explanation for the goal derived with specific conditions. Therefore, as an example of mutually exclusive problems, employment process is proposed to demonstrate the decision-making process of how to reach the goal and explanation by the pruning branches. Finally, further study is discussed to verify the effectiveness of MEL with experiments.

• Proceedings of the Korea Database Society Conference
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• 1999.06a
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• pp.361-371
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• 1999

This paper is concerned with designing and implementing the Internet shopping mall by using virtual reality-driven avatar and web decision support system. Traditionally, the Internet shopping mall has been designed based on the combination of several hyperlinks, images, and tents. However, this sort of approach results in a lower performance because possible customers cannot make more accurate shopping decisions. To overcome this kind of pitfalls facing the current Internet shopping malls, we propose using a combination of virtual reality and web DSS. The main virtues of our proposed approach to designing the Internet shopping mall are as follows: First, the virtual reality technique is emerging as one of alternatives guaranteeing a sense of reality for customers' part and facilitating the complex process of shopping decision makings. Especially, the avatar, which is an artificially designed man working on the Internet, can make easy and absorbing the Internet shopping-related decision making processes. Second, the web DSS approach can provide an effective decision support mechanism for customers. Especially, we design a set of intelligent agents for the proposed web DSS. Experimental results with an illustrative example showed that our proposed approach can yield a new Internet shopping mall paradigm with which customers can benefit from a high level of decision support functions.

• Smart Structures and Systems
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• v.5 no.4
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• pp.415-426
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• 2009

This study focuses on the concept of multi-scale wireless sensor networks for damage detection in civil infrastructure systems by first over viewing the general network philosophy and attributes in the areas of data acquisition, data reduction, assessment and decision making. The data acquisition aspect includes a scalable wireless sensor network acquiring acceleration and strain data, triggered using a Restricted Input Network Activation scheme (RINAS) that extends network lifetime and reduces the size of the requisite undamaged reference pool. Major emphasis is given in this study to data reduction and assessment aspects that enable a decentralized approach operating within the hardware and power constraints of wireless sensor networks to avoid issues associated with packet loss, synchronization and latency. After over viewing various models for data reduction, the concept of a data-driven Bivariate Regressive Adaptive INdex (BRAIN) for damage detection is presented. Subsequent examples using experimental and simulated data verify two major hypotheses related to the BRAIN concept: (i) data-driven damage metrics are more robust and reliable than their counterparts and (ii) the use of heterogeneous sensing enhances overall detection capability of such data-driven damage metrics.

• Communications of Mathematical Education
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• v.35 no.2
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• pp.153-172
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• 2021

Various competencies such as critical thinking, systems thinking, problem solving competence, communication skill, and data literacy are likely to be required in the 4th industrial revolution. The competency regarding data literacy is one of those competencies. To nurture citizens who will live in the future, it is timely to consider research on teacher education for supporting teachers' development of statistical thinking as well as statistical knowledge. Therefore, in this study we developed and implemented a data analysis project for pre-service teachers to understand their changes in statistical knowledge in addition to their experiences of data-driven decision making process that required them utilizing their statistical thinking. We used a mixed method (i.e., sequential explanatory design) research to analyze the quantitative and qualitative data collected. The findings indicated that pre-service teachers have low knowledge level of their understanding on the relationship between population means and sample means, and estimation of the population mean and its interpretation. When it comes to the data-driven decision making process, we found that the pre-service teachers' experiences varied even when they worked as a small group for the project. We end this paper by presenting implications of the study for the fields of teacher education and statistics education.

• Informatization Policy
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• v.28 no.3
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• pp.95-111
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• 2021

To achieve a data-driven policy decision-making system, the Ministry of Strategy and Finance has formed a marketing team and is actively building upon it. This system, currently under construction, will enable data-driven financial tasks beyond simple financial administration. The U.S. has already enacted The Foundations for Evidence-Based Policymaking Act in the process of similar pursuits. Since last year, the data-driven system administrative law has been enacted in Korea, and a legal framework has been established for data-driven administrative work. The next-generation budget accounting system to fulfill its role as a data-driven system needs public policy support to operate. Innovation and transformation are needed in various areas such as data management, legal system, and installation of related systems. Accordingly, it is very timely to analyze the financial systems and policies of advanced countries such as the U.S. and U.K., which already have established and operates such a financial system. By benchmarking and applying existing financial information systems to the next-generation budget accounting system, a better system will result. In this study, major developed countries, including the U.S., U.K., France, and Canada were benchmarked and analyzed in terms of the main elements of data governance: public policy, systems, legal framework, promotion system, and service level. It was discovered that the role and direction of the national fiscal policy system that the people favor should be able to respond quickly to the recent difficult economic crisis environment such as the digital transformation trend and COVID-19.