Title :
Knowledge support systems for ´smarter´ pricing and resource allocation
Author_Institution :
Comput. Dept., Univ. of Manchester Inst. of Sci. & Technol., UK
Abstract :
The role of knowledge support in decision-making is examined. An architecture for knowledge support for product pricing and resource allocation at the tactical or management control decision-making level in companies is presented. It is a hybrid of a decision support system and an expert system. Two concrete systems devised to implement this approach are described. One is Price-Strat, system for tactical pricing. The other is TAPS (targeted allocation of promotional spending), which makes managers to look at the total budget allocation process. It is emphasized that Price-Strat and TAPS are first attempts at providing such knowledge support and leave much room for improvement through further research.<>
Keywords :
budgeting data processing; decision support systems; expert systems; marketing data processing; Price-Strat; TAPS; budget allocation; decision support system; decision-making; expert system; knowledge support systems; management; marketing; product pricing; resource allocation; targeted allocation of promotional spending; Concrete; Control systems; Decision making; Decision support systems; Expert systems; Knowledge management; Operations research; Pricing; Resource management; Strategic planning;
Journal_Title :
Control Systems, IEEE
