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Decision analysis
We design and implement online decision analysis systems for businesses and government covering any professional application and economic sector. Decision analysis is used to identify the best feasible decision options given the state of knowledge, available resources and decision-maker preferences for time and risk. This is achieved by applying logical deductive and quantitative methods to analyse the critical determinants of the outcomes of a decision. Why decisions are important A decision is not an intent or an idea but is an irrevocable commitment of resources to implement an action or actions to achieve some objective. Any subsequent change in the decision or attempt to cancel it will result in additional resources having to be spent. The strict relationship between a decision and the use of resources makes management decisions significant in economic and financial terms; decisions are important. Why online decision analysis systems? Rational business decision-making identifies options and likely outcomes as a basis for selecting a preferred solution. Many decisions are particularly complex, involve considerable resources, refer to a unque set of circumstances and are therefore associated with considerable risk. Robust decision analysis systems provide a powerful complement to the inputs of domain experts and corporate meetings providing an underpinning and more complete understanding of the full range of potential options and risks. Modern internet technologies enable online decision analysis systems assess decision risks through secure, convenient and powerful decision analytical capabilities at a relatively low cost. The convenience of online operations is that they can be organised to permit the access of any selected individuals or a work group within a company through appropriate access rights. On the other hand they can operate as a general facility for use by the whole workforce as well as corporate and government constituencies. |