Decision Tree

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What is a Decision Tree? Meaning.

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.


Decision Trees Special Interest Group


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Forum about Decision Trees  

The most recent topics about: Decision Trees.


🔥 NEW Advantages of Using Decision Trees
There are several benefits of decision trees when you compare them to other decision support tools:
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Disadvantages of Using Decision Trees
Although decision trees can be used for effective decision making on product development, research and development and i (...)
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Decision Tree vs. Problem Analysis Tree
What is the difference between decision tree and problem analysis tree. Thanks... (...)
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Best Practices about Decision Trees

Here you will find the most valuable ideas and practical suggestions.


Expert Tips about Decision Trees

Here you will find professional advices by experts.


Information Sources about Decision Trees

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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 (...)
 
 
 
 

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

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