Home > Term: decision analysis
decision analysis
An applied branch of decision theory. Decision analysis offers individuals and organizations a methodology for making decisions; it also offers techniques for modeling decision problems mathematically and finding optimal decisions numerically. Decision models have the capacity for accepting and quantifying human subjective inputs: judgments of experts and preferences of decision-makers. Implementation of models can take the form of simple paper-and-pencil procedures or sophisticated computer programs known as decision aids or decision systems.
- Kalbos dalis: noun
- Pramonės šaka / sritis: Science
- Category: General science
- Company: McGraw-Hill
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