DECISION TECHNOLOGIES FOR SUPPORTING THE INTERPLAY BETWEEN QUALITATIVE AND QUANTITATIVE ASPECTS OF MANAGERIAL DECISION-MAKING

Virtually all managerial decision involve qualitative and quantitative aspects. Both are important and need to be reflected in the final decision. Any knowledge support system which helps managers to take better decisions should be able to ensure that the qualitative aspects are fully reflected in the final quantitative decisions which are to be implemented. In this paper we study this interplay between the qualitative and the quantitative in the context of a specific decision type i.e. Tactical decision making. Within this class, we illustrate the issues in the particular context of Pricing Decision Making for a retail bank. The Knowledge support System Bank Price is used as the vehicle for this examination and examples from determining interest rates for liability products are used to highlight the issues within a concrete setting.