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7 Types of Decision Analysis

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Decision analysis is the process of making decisions based on research and systematic modeling of tradeoffs. This is often based on the development of quantitative measurements of opportunity and risk. Decision analysis may also require human judgement and is not necessarily completely number driven. The following are the basic types of decision analysis.

Research

Developing information that is relevant to a decision. This includes analysis of the problem space, solution space and the identification of risks.

Risk Analysis

Analysis of the probability and impact of identified risks. Risk analysis may also investigate treatment that can be used to reduce risk. In some cases, risk triggers and moment of risk may be modeled.

Decision Modeling

Modeling the structure of a decision such as a scoring system for options or identification of primary tradeoffs for a decision.

Systems

The use of software to process, calculate and visualize decision related data. In some cases, efforts are made to automate or semi-automate decisions using algorithms or artificial intelligence. For example, a credit score may be calculated to automate the decision to accept or reject a credit application.

Design

The design of solutions. This can be a creative process that begins by freely brainstorming ideas that progresses to a more systematic process of evaluation.

Decision Making

The process of making a decision based on tradeoffs such as opportunity and risk in the context of your goals and risk tolerance. This can be a fully qualitative process of scoring. More commonly it is a call that is made by a talented individual such as a leader, architect or designer.

Decision Improvement

The process of evaluating the results of past decisions to improve decision making processes and analysis practices.
Overview: Decision Analysis
Type
Definition
The process of making decisions based on research and systematic modeling of tradeoffs.
Related Concepts

Decision Analysis

This is the complete list of articles we have written about decision analysis.
Creativity
Criteria
Data
Decision Analysis
Decision Goals
Decision Making
Decision Tree
Design
Group Polarization
Research
Risk
Risk Analysis
Risk Decision
Systems
Tradeoffs
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Criteria

The definition of criteria with examples.

Decision Making

A list of decision making techniques.

Paradox Of Choice

The definition of paradox of choice with examples.

Lose-Lose Situation

The definition of lose-lose situation with examples.

Analysis Paralysis

The definition of analysis paralysis with examples.

Objectivity

The definition of objectivity with examples.

Benefit Of Doubt

The definition of benefit of doubt with examples.

Groupthink

The definition of groupthink with examples.

Shortlist

The definition of shortlist with examples.

Decision Authority

The common types of decision authority.

Sanity Check

An overview of sanity checks, a decision making and problem solving technique.

Preserving Ambiguity

Overview of preserving ambiguity.

Strategic Dominance

Strategic dominance is your best choice in a given situation.

Maximax Criterion

The definition of maximax with examples.

Indecision

The definition of indecision with examples.

Group Decisions

A list of group decision strategies and techniques.

Normative Decision Making

The definition of normative decision making with examples.

Non Decision

The definition of non-decision with examples.

Decision Examples

Examples of decisions made with different decision making approaches.
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