Decision trees are major components of finance, philosophy, and decision analysis in university classes. Yet, many students ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

A decision tree can help you make tough choices between different paths and outcomes, but only if you evaluate the model correctly. Decision trees are graphic models of possible decisions and all ...

In last month’s article, we touched on the importance of probability in our daily lives. We shared brain teasers and non-intuitive facts that highlighted how an understanding of probability can help ...

Decision tree analysis is a method of constructing a decision tree, which is a detailed representation of numerous potential solutions that can be utilized to address a specific problem to choose the ...

Dr. James McCaffrey of Microsoft Research says the technique is easy to tune, works well with small datasets and produces highly interpretable predictions, but there are also trade-off cons. The goal ...

Over the past several decades, organizations have invested vast resources in data infrastructure to improve decision success, but the results are mixed. A new approach called “decision-back” flips the ...

Junior faculty are often told to protect their time, but nobody provides instructions for how to do so. As an assistant professor at a public university, I have struggled to balance my course load, my ...