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Decision Making

What is Decision Modelling?

 , October 19, 2015
Decision modelling is a framework or algorithm for supporting decision making or in some cases, automating it. Models are typically constructed by looking at historical data and determining a set of conditions that would have achieved optimized or partially optimized decisions. These models are then deployed to handle future decisions.
Overview: Decision Modelling
FunctionDecision Making
ValueModeling decisions using logic or patterns to improve decision making.
ExampleA common example are models that seek to trade stocks or other financial instruments for profit. Such models might work very well if only one company deployed them, however in reality a large number of companies deploy similar models that tend to change the dynamics of trading in a particular market. The result is an expensive race to develop more sophisticated models.
Related TechniquesDecision Mapping
Decision Support System

Decision Making

This is the complete list of articles we have written about decision making.
A/B Testing
Abilene Paradox
Abstract Concept
Analysis Paralysis
Analytic Reasoning
Benefit Of Doubt
Boil The Frog
Choice Architecture
Cold Logic
Collective Intelligence
Convergent Thinking
Critical Thinking
Decision Analysis
Decision Authority
Decision Balance
Decision Costs
Decision Fatigue
Decision Framing
Decision Mapping
Decision Quality
Decision Rationale
Decision Theory
Decision Tree
Devil's Advocate
Disagree And Commit
Divergent Thinking
Emotional Intelligence
Failure Of Imagination
Group Decisions
Keep It Simple
Maximax Criterion
Minimax Criterion
Non Decision
Normative Model
Opportunity Cost
Paradox Of Choice
Pareto Analysis
Predictive Analytics
Preserving Ambiguity
Reverse Brainstorming
Sanity Check
Strategic Dominance
Thought Experiment
Visual Analytics
Visual Thinking
More ...
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Decision Making

A list of decision making techniques.

Abilene Paradox

The observation that groups may make collective decisions that are viewed as wrong or irrational by each individual member of the group.

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A definition of information costs with examples.

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A definition of reverse brainstorming with examples.

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Taking a position that you do not necessarily agree with for the purposes of argument.

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