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Support for Real-Time Decision Making in Mobile Financial Applications

In: Handbook on Decision Support Systems 2

Author

Listed:
  • Frada Burstein

    (Monash University)

  • Julie Cowie

    (University of Stirling)

  • Arkady Zaslavsky

    (Monash University)

  • Jocelyn Pedro

    (National Australia Bank Limited)

Abstract

Mobile users making real-time decisions based on current information need confidence that their context has been taken into consideration in producing the system’s recommendations. This chapter reviews current use of mobile technologies for context-aware real-time decision support. Specifically, it describes a framework for assessing the impact of mobility in decision making. The framework uses dynamic context model of data quality to represent uncertainties in the mobile decision-making environment. This framework can be used for developing visual interactive displays for communicating to the user relevant changes in data quality when working in mobile environments. As an illustration, this chapter proposes a real-time decision support procedure for on-the-spot assistance to the mobile consumer when choosing the best payment option to efficiently manage their budget. The proposed procedure is based on multi-attribute decision analysis, scenario reasoning, and a quality of data framework. The feasibility of the approach is demonstrated with a mobile decisionsupport system prototype implementation.

Suggested Citation

  • Frada Burstein & Julie Cowie & Arkady Zaslavsky & Jocelyn Pedro, 2008. "Support for Real-Time Decision Making in Mobile Financial Applications," International Handbooks on Information Systems, in: Handbook on Decision Support Systems 2, chapter 41, pages 81-106, Springer.
    • Handle: RePEc:spr:ihichp:978-3-540-48716-6_5
    DOI: 10.1007/978-3-540-48716-6_5
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    Cited by:

    1. Constantin Zopounidis & Michalis Doumpos & Dimitrios Niklis, 2018. "Financial decision support: an overview of developments and recent trends," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 6(1), pages 63-76, June.

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