Decision Tree

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Description of Decision Tree. Explanation.

 

Definition Decision Tree. Description.


A Decision Tree (DT) is a form of inductive reasoning using boolean alternatives (yes/no or true/false) or questions with a limited number of options to examine various things, such as: new product development, research and development options, plant modernization programs.


Composition of a Decision Tree. Elements.

A DT is typically (but not per se) represented as a graphical diagram consisting of nodes and branches that depicts the anatomy of a (business) decision and the interplay between a present decision, chance events, competitors’ activities, and possible future decisions and their results.

A decision tree consists of 3 main types of nodes:

  • Decision Nodes - normally represented by squares.
  • Chance Nodes - commonly represented by circles.
  • End Nodes - typically represented by triangles.

Usages of Decision Trees. Applications.

DTs are commonly used in operations research to support decision making and to help identify a strategy most likely to reach a goal.


Special Interest Group - Decision Trees


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Forum - Decision Trees  

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  Advantages of Using Decision Trees (1 reactions)
There are several benefits of decision trees when you compar...
 
 
 
 
  Disadvantages of Using Decision Trees (1 reactions)
Although decision trees can be used for effective decision m...
 
 
 
 
  Decision Tree vs. Problem Analysis Tree (1 reactions)
What is the difference between decision tree and problem ana...
 
 
 
 

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Contingency Leadership Theories In-depth

Contingency Theory, Normative Decision Model, Situational Leadership Theory, Path-Goal Theory...
 

Development and Assessment of Decision Trees

Decision Trees, ID2, Entropy, Prepruning, Postpruning, Error Propagation...
 
 

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Compare also: Mind Mapping  |  Theory of Constraints  |  Feasibility Study  |  Centralization and Decentralization

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