Decision Trees
- Created by: B-raa
- Created on: 19-01-19 13:48
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Decision Trees
BENEFITS OF USING DECISION TREES
- Choices are set out in a logical way
- Potential options & choices are considered at the same time
- Use of probabilities enables the “risk” of the options to be addressed
- Likely costs are considered as well as potential benefits
- Easy to understand & tangible results
DRAWBACKS OF USING DECISION TREES
- Probabilities are just estimates – always prone to error
- Uses quantitative data only – ignores qualitative aspects of decisions
- Assignment…
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