Analytical Models In Decision Making

by Ma Donalyn Felias
(Philippines)

How are analytical models used in decision making?


Answer: Here is a logical approach to using analytical models. First start the steps outlined in Decision Making Model In Five Steps. When you get to step 3, you need to rank the alternatives. This is the role of analytical models. The performed analysis can give you numbers that will make it easier to rank your alternatives.

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Different Types Of Decision Making

by A.K.M.
(Kolkata)

What art the different types of decision making?

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Dec 20, 2009
 Decision Making Types
by: Dee Reavis

There are in general 2 types of decision making:

1 Intuitive decision making. This kind of decision making is the kind the comes from the top of the mind. It is the instinctive approach that can only be done well with a lot of experience. The way to get the required experience is by making a lot of mistakes. Education certainly helps too. It is best to use this method when time is critical or when the consequences are trivial.

2. Analytical decision making. When you have the time and the decision is important, it is advisable to use this method. You spend time researching exactly what the problem is. Then you need to find as many alternatives that are feasible solutions as possible. The next step is to decide which alternative is best for your situation. Finally you need to implement your solution.

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Measuring Decision Making

by Elaina
(New Jersey, USA)

I agree with your model. I am just curious if you have done any measurement of how effective or efficient the decisions made with your models are?


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Apr 28, 2010
 Measuring Decision Making
by: Dee Reavis

I have not done any actual studies to compare logical decision making with emotion based decision making. However, you can see people around you who make decisions without data gathering and logic. The decisions are usually bad.

In order to make decisions without a reasoned logical data gathering approach, you need a lot of experience. That means you have to be trained to react a certain way in a given set of circumstances. Then you must make a lot of mistakes along the way before you become a good quick decision maker. Good examples of this kind of decision maker are military commanders. They often don't have time for data gathering and logical decision making. Any feasible decision, in a military situation, is better than waiting for the best decision. But to do so effectively takes a lot of training and quite a few mistakes. Without that training and experience the best approach is a rational methodical approach to decision making. To get predictable results, you need to avoid the off the cuff decision.

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Programmed Decision

by Asha
(Ardi University)

What is a programmed versus a non programmed decision?

Answer

A programmed decision is one that is made based on established policies or rules. The situation has happened so many times in the past that the path to making a decision is well known.

A non programmed decision is one that must be made in a new unique situation. Since it is new, it is necessary to go through the entire decision making process to come to a good decision.

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