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. | |
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