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Business decision mapping (BDM) is a technique for making decisions, particularly for the kind of decisions that often need to be made in business. It involves using diagrams to help articulate and work through the decision problem , from initial recognition of the need through to communication of the decision and the thinking behind it.
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Collaborative decision-making (CDM) software is a software application or module that helps to coordinate and disseminate data and reach consensus among work groups. [1]CDM software coordinates the functions and features required to arrive at timely collective decisions, enabling all relevant stakeholders to participate in the process.
The concept of decision yield, for instance, focuses on all five key attributes of decision-making: more targeted decisions (precision); in the same way, over and over again (consistency); while being able to adapt "on-the-fly" (business agility) while reducing cost and improving speed, is an overall metric for how well an organization is ...
Thus most DM software is based on decision analysis, usually multi-criteria decision-making, and so is often referred to as "decision analysis" [5] [6] or "multi-criteria decision-making" [4] software – commonly shortened to "decision-making software". Some decision support systems include a DM software component.
Decision intelligence can also be thought of as a framework that brings advanced analytics and machine learning techniques to the desktop of the non-expert decision maker, as well as incorporating, and then extending, data science to overcome the problems articulated in black swan theory. [citation needed]
Identified decisions can only be made if certain criteria are met, which form a definition of ready for AD making: (1) Stakeholders have been identified, (2) Time is right, (3) Alternatives (aka options) listed, (4) Requirements and other criteria defined, (5) ADR Template chosen. [15] A number of decision making techniques exists, both general ...
Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions 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 ...