DSS value and time-constrained decision making

This paper examines an important source of the value of decision support systems (DSS), namely, decision flexibility. It proposes a framework for systematically analyzing, understanding, and possibly quantifying flexibility resulting from the use of DSS in decision situations with time constraints, based on real options theory. The proposed framework is compared with anecdotal evidence of DSS value from the MIS literature. This framework has interesting implications for DSS development.