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.
Proven methodologies and often classified on the basis of the type of decision problem or application and the most widely applied include:
- Structured calculations
- Goal-seeking & optimization
- Enterprise analysis & strategies
- The Learning curve
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 somearial conflicting preferences. These issues are covered in the Leading edge
section on this site.