Decision analysis

<p>Decision analysis (DA) is the <a href="/facts/Academic_discipline/pKoQHpYL">discipline</a> comprising the <a href="/facts/Philosophy/zAH5PVD6">philosophy</a>, <a href="/facts/Methodology/dk5X9Hxx">methodology</a>, and <a href="/facts/Professional/Nmq2oUMU">professional</a> practice necessary to address important <a href="/facts/Decision_making/NbJYprSw">decisions</a> in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the maximum <a href="/facts/Expected_utility_hypothesis/EboBlw1D">expected-utility</a> <a href="/facts/Action_axiom/AUx2sxDN">axiom</a> to a well-formed representation of the decision; and for translating the formal representation of a decision and its corresponding recommendation into insight for the <a href="/facts/Decision_making/NbJYprSw">decision maker</a>, and other corporate and non-corporate <a href="/facts/Stakeholder_(corporate)/yN9L44ac">stakeholders</a>.
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Decision analysis open-in-new

Decision analysis