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Use of the Time-Sharing Computer in Business Planning and Budgeting

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  • R. C. Raymond

    (General Electric Company, New York)

Abstract

The time-sharing computer system now being operated in Phoenix by the Computer Department offers any Company executive willing to spend a few days learning to use the system an entirely new capability to explore and prepare business forecasts. The system does the arithmetic and prints the results in the privacy of the user's office in a few minutes. The planner can explore a range of assumptions and estimates impossible to handle by manual methods and difficult and time-consuming by more traditional computer methods. With the system, the planner can state his basic data and assumptions, observe the results, and then modify any of the assumptions he chooses and get new results within a few minutes. By following this procedure several times it is possible to explore the effects of a variety of environmental assumptions, such as market and price structure for a new product, and to find out what budget of costs for the new product must be realized to yield acceptable business results. This procedure, which requires many days of the time of several individuals by manual methods, can be completed in most cases by one man in less than one day, including the initial programming. An example from a recent new business study is given.

Suggested Citation

  • R. C. Raymond, 1966. "Use of the Time-Sharing Computer in Business Planning and Budgeting," Management Science, INFORMS, vol. 12(8), pages 363-381, April.
    • Handle: RePEc:inm:ormnsc:v:12:y:1966:i:8:p:b363-b381
    DOI: 10.1287/mnsc.12.8.B363
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    Cited by:

    1. Andrei STANCIU & Mihai FLORIN & Cristina RADULESCU & Ofelia ALECA, 2009. "Solutions for decision support in university management," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(1), pages 136-151, June.
    2. Parham Fami Tafreshi & Mohammad Hasan Aghdaie & Majid Behzadian & Mahdieh Ghani Abadi, 2016. "Developing a Group Decision Support System for Advertising Media Evaluation: A Case in the Middle East," Group Decision and Negotiation, Springer, vol. 25(5), pages 1021-1048, September.
    3. Rajiv D. Banker & Robert J. Kauffman, 2004. "50th Anniversary Article: The Evolution of Research on Information Systems: A Fiftieth-Year Survey of the Literature in Management Science," Management Science, INFORMS, vol. 50(3), pages 281-298, March.

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