Nowadays, application of decision and information management is at the core of every organization in the world. Through different models it determines the three crucial dimensions of any project – time, quality and price. Considering its importance and applicability, I have chosen to focus on Decision and Information Sciences in my internship report.
Apart from the field of the report, an important role is played by industry in which company operates. During my studies, I have noticed that oil companies are frequently used as examples of different models, due to specifics of the business. Particularly, the three models that this report is focused on – Event Process Chain, Data Flow Diagram and Entity-Relationship Diagram are commonly used in oil industry. Considering amount of data, its flow and relationships between different sets of data at oil companies, Data Flow Diagram and Entity-Relationship Diagram has most importance for data and information management. Event Process Chain is a cornerstone of operations of all companies, including the ones operating in oil industry.
This paper is organized as follows: firstly, a review of existing literature in the field of Information and Decision Science will be done. Thereafter, company overview and specifics will be presented, followed by evaluation of existing models and frameworks at Operating Company. The paper will be concluded by my self-reflection about the internship.
In Information and Decision Making frameworks, there are 3 models that are commonly used across the companies and are widely known in the literature: Event Process Chain, Data Flow Diagram and Entity-Relationship Diagram.
Frameworks at Operating Company
Event Process Chain
Event Process Chain shows how company usually operates in the insurance cases, considering all possible situation endings. There are four elements of EPC: Event, Process, Branching and Wait.
An Event show status...
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