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.


Special Interest Group - Decision Trees


Special Interest Group (123 members)


Forum - Decision Trees  

Discussions about Decision Trees.


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

Best Practices - Decision Trees

Here you find the most valuable discussions from the past.



Expert Tips - Decision Trees

Here you will find advices by experts.



Resources - Decision Trees

Here you find powerpoint presentations, micro-learning videos and further information sources.


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 (...)
 

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

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