Advantages of Using Decision Trees

Decision Trees
Knowledge Center

 

Next Topic

Decision Trees > Forum > Advantages of Using Decision Trees

Advantages of Using Decision Trees
John Kudic

There are several benefits of decision trees when you compare them to other decision support tools:
  1. SIMPLE: Are simple to understand and interpret. People are able to understand decision tree models after a brief explanation.
  2. LITTLE DATA NEEDED: Have value even with little hard data. Important insights can be generated based on experts describing a situation (its alternatives, probabilities, and costs) and their preferences for outcomes.
  3. EXTENSIBLE: Allow the addition of new possible scenarios
  4. OUTCOMES: Help determine worst, best and expected values for different scenarios
  5. WHITE BOX: Use a white box model. If a given result is provided by a model.
  6. OPEN: Can be combined with other decision techniques.
Any more we can add? (...) Read more? Sign up for free
 

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


   

         
Special Interest Group Leader

Interested? Sign up for free.


Decision Trees
Summary
Forum
Best Practices


    Decision Trees
    Knowledge Center

     

    Next Topic



    About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
    2020 12manage - The Executive Fast Track. V15.4 - Last updated: 25-2-2020. All names of their owners.