Applications

Decision analysis models can be built and applied to most types of decision. The methodologies applied consist of well-proven and robust techniques emanating from operational research techniques. But the field continues to advance with modern developments involving new and evolving techniques addressing increasingly complex areas of application.

More information ... Simulations ...simulations enable the dynamic review of the sensitivity of outcomes (scenarios) to controlled and uncontrolled determinant values before any decision to commit resources is taken ... Structured calculations ... the process of logical calculation is the fundamental method for supporting decision analysis ... Goal seeking & optimization ... many decisions relate to a specific decision objective such as minimizing costs, maximising profits or achieving an optimised solution when there are countervailing constraints on the achievement of an objective ... Deduction ... how we think and deduce can be automated to provide sophisticated diagnostic systems on importance in biomedicine and various forms of investigation ... Enterprise models & strategies ... the common practice of applying decision analysis to isolated parts of enterprise operations will not achieve the best enterprise solutions, enterprise models provide a more comprehensive foundation to strategies ... The learning curve ... with practice people improve performance and use less resources to produce better quality output. This learning curve effects has a wide range of decision analysis applicaitons ... Governance ... when decisions are taken on behalf of large groups or constituencies there is a need for transparent coding of group preferences into decision analysis models ...

Proven methodologies and often classified on the basis of the type of decision problem or application and the most widely applied include:

Simulations Structured calculations Goal-seeking & optimization Deduction Enterprise analysis & strategies The Learning curve Governance

Each of these types of decision-making are summarised on the left and more detailed descriptions can be accessed by clicking on the blue titles.

The evolution of technique

Decision analysis theory and practice conitnues to evolve revealing an increasing range of useful applications.

There have been two significant advances in applications methods.

One is related to improved merthods of defining critical data sets and information used in decision analysis.

The other involves decision analysis methods which emphasise deference management which is related to standards, ethics and to the need to take into account multiple and sometimes conflicting preferences. These issues are covered in the Leading edge section on this site.