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studenti:mihita_cvitanovic:decision_trees:decision_trees_in_decision_analysis [2012/06/01 10:04]
mcvitanovic [Advantages]
studenti:mihita_cvitanovic:decision_trees:decision_trees_in_decision_analysis [2023/06/19 16:21] (trenutno)
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 ==== Definition ==== ==== Definition ====
  
-A decision making tree is essentially a diagram that represents, in a specially organized way, the decisions, the main external or other events that introduce uncertainty,​ as well as possible outcomes of all those decisions and events.+A decision making tree is essentially a diagram that represents, in a specially organized way, the decisions, the main external or other events that introduce uncertainty,​ as well as possible outcomes of all those decisions and events ​[1].
  
 **Components of a decision tree** **Components of a decision tree**
   - Decision node: a square node; represents decisions you can make   - Decision node: a square node; represents decisions you can make
   - Chance (uncertainty) node: a circle node; shows the occurrence of events over which the decision maker has no direct control   - Chance (uncertainty) node: a circle node; shows the occurrence of events over which the decision maker has no direct control
-  - Consequences (outcomes: utilities or costs+  - Consequences (outcomes): utilities or costs
  
 {{ :​studenti:​mihita_cvitanovic:​decision-tree.gif?​direct&​300 |}} {{ :​studenti:​mihita_cvitanovic:​decision-tree.gif?​direct&​300 |}}
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 ==== Advantages ==== ==== Advantages ====
  
-Some of the advantages of using decision trees for decision making and planning are the following:+Some of the advantages of using decision trees for decision making and planning are the following ​[2]:
  
   * Clear lay out of the problem so that all options can be challenged   * Clear lay out of the problem so that all options can be challenged
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   * Help us to make the best decisions on the basis of existing information and best guesses   * Help us to make the best decisions on the basis of existing information and best guesses
 ==== Disadvantages ==== ==== Disadvantages ====
 +
 +Some of the disadvantaged of using decision tress for decision making and planning are the following [3]:
 +
 +  * Even a small change in input data can at times, cause large changes in the tree
 +  * Decisions contained in the decision tree are based on expectations,​ and irrational expectations can lead to flaws and errors in the decision tree
 +  * Large decision trees can be unwieldy and complex to us
 +
 +===== Applications =====
 +
 +Decision tress are used in the field of operational research, a discipline that deals with the application of advanced analytical methods to help make better decisions. Some examples of the fields where it is used:
 +  * business and economics; project management
 +  * health economics
 +  * public health
 +  * law suits
  
 ===== Tools ===== ===== Tools =====
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 ===== Bibliography ===== ===== Bibliography =====
  
 +  - [[http://​ieeexplore.ieee.org/​xpl/​login.jsp?​tp=&​arnumber=6174886&​url=http%3A%2F%2Fieeexplore.ieee.org%2Fiel5%2F6170041%2F6174590%2F06174886.pdf%3Farnumber%3D6174886|T.Rahman. An efficient visual classification based approach to Decision Tree construction]]. Retreived May 25, 2012.
 +  - [[http://​www.mindtools.com/​dectree.html|Decision Trees: Choosing by projecting "​expected outcomes"​]]. Retreived May 25, 2012.
 +  - [[http://​www.brighthub.com/​office/​project-management/​articles/​106005.aspx|N Nayab. Disadvantages to Using Decision Trees]]. Retreived May 26, 2012.
 ===== Read more ===== ===== Read more =====
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studenti/mihita_cvitanovic/decision_trees/decision_trees_in_decision_analysis.1338545085.txt.gz · Zadnja izmjena: 2023/06/19 16:20 (vanjsko uređivanje)