#3343. Decisions for information or information for decisions? Optimizing information gathering in decision-intensive processes

October 2026publication date
Proposal available till 20-05-2025
4 total number of authors per manuscript0 $

The title of the journal is available only for the authors who have already paid for
Journal’s subject area:
Arts and Humanities (miscellaneous);
Developmental and Educational Psychology;
Management Information Systems;
Information Systems;
Information Systems and Management;
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Abstract:
Decision-intensive business processes are performed by decision makers who gather different pieces of information to reach the process objective. Gathering all possible pieces of information results in high quality decisions, but also yields high costs and efforts. Therefore, decision makers require decision support to determine which information to gather to make the best final decision. This research introduces an approach that supports a decision maker in the continuous trade-off between the effective acquisition of more information and cost-efficient decision making. The approach calculates an optimal information-gathering solution, such that the expected result of the main decision minus the process cost for collecting information is optimized. The approach uses the solution to configure a run-time recommendation tool for the decision maker. The approach is flexible and allows that a decision maker ignores the advice; it then continues to offer recommendations in the subsequent states.
Keywords:
Decision intensive process; Decision support; Information acquisition; Markov decision process

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