a. Definition of Decision Support System (DSS)
A Decision Support System (DSS) is an interactive, flexible, and adaptable computer-based information system developed for supporting the solution of non-structured management problems for improved decision-making. Alternatively, a DSS is a computer-based information system that utilizes data, providing an easy-to-use interface to assist managers in retrieving pertinent information from a database to facilitate decision-making.

b. Decision Support System Packages
i. Modeling and simulation packages
ii. Spreadsheet packages (e.g., Lotus 1-2-3, MS Excel)
iii. Statistical and analytical packages (e.g., SPSS)
iv. Forecasting packages
v. Non-linear and linear programming packages
vi. Regression analysis packages
vii. Financial modeling packages
viii. Sensitivity and risk analysis packages
ix. Accounting packages (e.g., Sage)

c. Advantages and Disadvantages of DSS
Advantages:
i. Provides information and analysis for decision-making
ii. Makes better use of organizational data resources
iii. Helps examine multiple alternative solutions
Disadvantages:
i. Requires adequate computer skills to obtain results
ii. Involves time for preparation and analysis to get the desired information

d. Benefits and Lapses of Information Technology
Benefits:
i. Faster communication speed through emails
ii. Reduced communication costs using the internet and telephones
iii. Sharing and exchanging information via discussion forums
iv. Creation of a paperless environment
Lapses:
i. Potential for fraud and misuse of information technology
ii. Identity theft risks
iii. High cost of installation and maintenance
iv. Hacking risks and unauthorized entry