Discussion On The Application Of DSS

Introduction

The following assignment analyzes the application of the DSS which is decision making system and the cloud computing application in the industry and the chosen company is the commonwealth which is an Australian multinational bank which operates in New Zealand, Fiji, Asia, United States and United Kingdom. The commonwealth gives various financial services like loans, investment and insurance. It is regarded as the largest Australian bank which is listed in the securities exchange of the Australia. It was founded in the year 1911, the year 2016 the bank has amounted the revenues twenty five billion dollars, the profit earned by the bank in the year 2016 was over ten billion. It employees more than forty six thousand employees with total assets over 930 billion dollars. The assignment focuses on how the ban are utilizing the feature application of the cloud computing DSS which has been explained with the help of figures and statics. The cloud services used by the commonwealth are from IBM and HP and the bank efficiently using the application to cut its operational costs in the bank.

Discussion

DSS

The Decision Support system (DSS) is the software which is programmed to study and analyze the business data which can help the businessmen to make decisions in easy way. Its application is more in making decisions.^[1] The Decision support system can be used for the comparative study of the sales of the company at different intervals. It predicts the revenues of the company on the basis of the sales of the product. It is also used to study the effect of the new decision on the basis of the past decisions which was made by the company^[2]. The usage of the DSS in financial sectors such as banks is crucial, there are huge amount of the data in form of the customer and its bank information. The DSS is mainly used to improve the e-banking facility of the commonwealth bank.

Figure 1: The working structure of the DSS

(Source: Nasri, Wadie, and Charfeddine, 2012, pp. 14)

To improve the e-banking facility for customers, commonwealth bank hold timely strategic meeting^[3]. The best tool to make this meeting successful is the usage of DSS.

Figure 2: How financial institution utilizes DSS

(Source: Fang, Chao, and Marle, 2012, pp. 644)

With increasing population moving towards the e banking facility the DSS is the powerful tool for decision making. For instance Ditch DSS software which is a web based service designed by for storing and analyzing the property market of a country^[4]. It stores and analyzed the commercial properties information like taxation, owner name and the size of the property which provide a full scale assessment to the banks with their queries related to the bank. The DSS software was also very useful in the retail bank which uses the application of the DSS to manage the queries of the customer and also helped to reduce the operational costs.

 Cloud computing in the banking sectors         

The cloud computing in the banking sectors has transformed the operation of the IT industry but bank like commonwealth bank and other financial sectors are still hesitant to use the cloud services due to lack of security and rising data breaches in the cloud data^[5]. The banks data are very valuable and confidential and the breach in their system can lead to huge loss of money. Nowadays banks are also using IT products to extend their business online like the online payment and e-banking^[6]. In order to carry out these operation cloud application are helpful in various ways.

Using cloud application will enable them for efficient client service as the data are stored in cloud it will enable them for faster access of the services of the banking^[7]. The online payment and various transactions will be faster and efficient. Thus the cloud service is flexible according to the customer needs.

Figure 3: The changes in the operation in the banking industry using cloud application

(Source: Prasad et al. 2014, pp. 356)

Using cloud service will reduce the extra operational cost of the bank as the management of the bank data requires no additional cost^[8]. The bank can also utilize the software’s which are necessary for operation free of cost as cloud contains all the software in it^[9]. Thus additional cost of storing data and usage of the software is saved using the cloud service.     

The commonwealth bank of Australia has reported that the usage of the cloud in their business has reduced the cost and the time invested in standing up a news server has reduces from thousand dollar and the eight weeks to 25 cents and the eight minutes^[10]. 

Figure 4: Graph depicting the usage of various models of cloud computing software

(Source: Created by author)

Conclusion

From the above report it can be concluded that the DSS which is the Decision Support system (DSS) is the software which is programmed to study and analyze the business data which can help the businessmen to make decisions in easy way. Its application is more in making decisions. The banking has huge application in the DSS as the huge and complex data can be used to predict the revenue of the company and it help them to make better decisions. The figure in the assignment shows the working of the DSS and in the second figure shows how the financial organizations use the application of the DSS. The cloud computing system has huge application in the IT industry but banks are also utilizing the application of the cloud computing as it saves the operational cost of buying software or storing data. The figure 3 shows that the difference between the operation by not using the cloud computing applications and with using cloud application. The graph shows the various software of the cloud which has been in demand in the market for five years it shows that there is a high demand of the cloud software in the market. Common wealth is also using the cloud services of IBM and HP companies to simplify its business operation.

References

Chang, Victor, Robert John Walters, and Gary Wills. "Financial Clouds and modelling offered by Cloud Computing Adoption Framework." (2014).

Chang, Victor, Robert John Walters, and Gary Wills. "The development that leads to the Cloud Computing Business Framework." International Journal of Information Management 33, no. 3 (2013): 524-538.

Fang, Chao, and Franck Marle. "A simulation-based risk network model for decision support in project risk management." Decision Support Systems 52, no. 3 (2012): 635-644.

Jadeja, Yashpalsinh, and Kirit Modi. "Cloud computing-concepts, architecture and challenges." In Computing, Electronics and Electrical Technologies (ICCEET), 2012 International Conference on, pp. 877-880. IEEE, 2012.

Nasri, Wadie, and Lanouar Charfeddine. "Factors affecting the adoption of Internet banking in Tunisia: An integration theory of acceptance model and theory of planned behavior." The Journal of High Technology Management Research 23, no. 1 (2012): 1-14.

Prasad, Acklesh, Peter Green, and Jon Heales. "On governance structures for the cloud computing services and assessing their effectiveness." International Journal of Accounting Information Systems 15, no. 4 (2014): 335-356.

Sauter, Vicki L. Decision support systems for business intelligence. John Wiley & Sons, 2014.

Schlagwein, Daniel, Alan Thorogood, and Leslie P. Willcocks. "How Commonwealth Bank of Australia Gained Benefits Using a Standards-Based, Multi-Provider Cloud Model." MIS Quarterly Executive 13, no. 4 (2014).

Shibl, Rania, Meredith Lawley, and Justin Debuse. "Factors influencing decision support system acceptance." Decision Support Systems 54, no. 2 (2013): 953-961.

Zissis, Dimitrios, and Dimitrios Lekkas. "Addressing cloud computing security issues." Future Generation computer systems 28, no. 3 (2012): 583-592

Shibl, Rania, Meredith Lawley, and Justin Debuse. "Factors influencing decision support system acceptance." Decision Support Systems 54, no. 2 (2013): 953-961.

Nasri, Wadie, and Lanouar Charfeddine. "Factors affecting the adoption of Internet banking in Tunisia: An integration theory of acceptance model and theory of planned behavior." The Journal of High Technology Management Research 23, no. 1 (2012): 1-14.

Sauter, Vicki L. Decision support systems for business intelligence. John Wiley & Sons, 2014.

Fang, Chao, and Franck Marle. "A simulation-based risk network model for decision support in project risk management." Decision Support Systems 52, no. 3 (2012): 635-644.

Zissis, Dimitrios, and Dimitrios Lekkas. "Addressing cloud computing security issues." Future Generation computer systems 28, no. 3 (2012): 583-592.

Chang, Victor, Robert John Walters, and Gary Wills. "Financial Clouds and modelling offered by Cloud Computing Adoption Framework." (2014).

Jadeja, Yashpalsinh, and Kirit Modi. "Cloud computing-concepts, architecture and challenges." In Computing, Electronics and Electrical Technologies (ICCEET), 2012 International Conference on, pp. 877-880. IEEE, 2012.

Prasad, Acklesh, Peter Green, and Jon Heales. "On governance structures for the cloud computing services and assessing their effectiveness." International Journal of Accounting Information Systems 15, no. 4 (2014): 335-356.

Chang, Victor, Robert John Walters, and Gary Wills. "The development that leads to the Cloud Computing Business Framework." International Journal of Information Management 33, no. 3 (2013): 524-538

Schlagwein, Daniel, Alan Thorogood, and Leslie P. Willcocks. "How Commonwealth Bank of Australia Gained Benefits Using a Standards-Based, Multi-Provider Cloud Model." MIS Quarterly Executive 13, no. 4 (2014)