Decision tree for Android

11 things about Decision tree

1. The Decision tree app supports decision trees of any depth, where after an outcome, you may encounter another decision alternative, which in turn may have its own outcomes, and so on.

2. The complexity of decisions involving significant uncertainty brings challenges such as unpredictable consequences, multi-layered factors, potential reduction of uncertainty through additional information and the influence of the decision maker's attitude to risk.

3. -Calculate the net profit, i.e. the result obtained by subtracting the cost of the alternative from the path value of the outcome.

4. The net value of an outcome is determined by the weighted influence of the outcome’s value on the overall expected value of the corresponding alternative, minus the cost of implementing that alternative.

5. Leverage the effectiveness of decision making by applying a decision tree, a proven analytical approach that provides clarity and leads to informed decisions in the midst of uncertainty.

6. The Decision tree app offers a powerful visual interface that allows you to intuitively build and manage complex decision trees.

7. The optimal strategy is identified by tracing the path from the root alternative through the branches that lead to the highest net value.

8. Each alternative in the tree has a cost, which represents the expected expense of pursuing that option—like $220,000 for opening a new branch in another city.

9. -Specify nominal profit values and probabilities for each outcome to refine the decision criteria.

10. -Construct sequential decision chains that allow subsequent decisions based on specific outcomes.

11. -Intuitively construct a visual decision tree for a comprehensive decision analysis.