Decision Analysis
Decision Analysis is a systematic approach used to evaluate and make choices among different options. It involves identifying the objectives, assessing the available alternatives, and considering the potential outcomes and uncertainties associated with each choice. This method helps individuals and organizations make informed decisions by quantifying risks and benefits.
The process often employs tools such as decision trees and cost-benefit analysis to visualize and compare options. By breaking down complex decisions into manageable parts, Decision Analysis enables clearer thinking and better outcomes, ultimately leading to more effective problem-solving in various fields, including business, healthcare, and public policy.