Decision Tree

Uses

  • To help identify a strategy most likely to reach a goal.
  • Helps form a balanced picture of the risks and rewards associated with each possible course of action.
  • Provides a framework to quantify the values of outcomes and the probabilities of achieving them.
  • Clearly lays out the problem so that all options can be challenged.

Description

Decision Trees are excellent tools for helping choose between several courses of action using a tree like graph. They provide a highly effective structure within which you can lay out options and investigate the possible outcomes of choosing those options.

TIPS

  • Identify a clear purpose.
  • Identify the variables.

[1] Mind Tools. “Decision Trees.” Decision Tree Analysis. N.p., n.d. Web. 19 July 2012. <http://www.mindtools.com/dectree.html>.