Use of Conventional and Unconventional Statistical Methods in the Development of a Real Information System to Support Decision-Making Processes of Executives

Abstract

The aim of this paper is to introduce selected statistical methods that were used and implemented in real information system development (IS). The entire information system has been developed for a subsidiary of a multinational corporation to produce of components for train brakes. The purpose of this statistical analysis is to obtain as much information as possible about the data collected by the collection system in order to support managerial decision-making processes as well as to set economic goals and budgets for the following period based on information on spare parts and production failures facilities. Subsequently, the system can optimize the inventory and thus save significant financial resources.