Influence diagramAn influence diagram (ID) (also called a relevance diagram, decision diagram or a decision network) is a compact graphical and mathematical representation of a decision situation. It is a generalization of a Bayesian network, in which not only probabilistic inference problems but also decision making problems (following the maximum expected utility criterion) can be modeled and solved.Decision analysisDecision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner.
Operations researchOperations research (British English: operational research), often shortened to the initialismOR, is a branch of applied mathematics that deals with the development and application of analytical methods to improve management and decision-making. The term management science is occasionally used as a synonym.
Decision tree learningDecision tree learning is a supervised learning approach used in statistics, data mining and machine learning. In this formalism, a classification or regression decision tree is used as a predictive model to draw conclusions about a set of observations.
ClassificationClassification is the activity of assigning objects to some pre-existing classes or categories. This is distinct from the task of establishing the classes themselves (for example through cluster analysis). Examples include diagnostic tests, identifying spam emails and deciding whether to give someone a driving license.
Decision support systemExample of a decision support system for John Day ReservoirA decision support system (DSS) is an information system that supports business or organizational decision-making activities. DSSs serve the management, operations and planning levels of an organization (usually mid and higher management) and help people make decisions about problems that may be rapidly changing and not easily specified in advance—i.e., unstructured and semi-structured decision problems.
FlowchartA flowchart is a type of diagram that represents a workflow or process. A flowchart can also be defined as a diagrammatic representation of an algorithm, a step-by-step approach to solving a task. The flowchart shows the steps as boxes of various kinds, and their order by connecting the boxes with arrows. This diagrammatic representation illustrates a solution model to a given problem.
UtilityIn economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function.
AlgorithmIn mathematics and computer science, an algorithm () is any well-defined set of instructions that when followed terminates after a finite number of steps that comprise a solution to a given computational problem. Advanced algorithms may utilize loops and involve many conditionals that decide the next step based on the inputs provided, resulting in long sequences of steps before halting, but all algorithms terminate by definition.
Causal modelIn metaphysics and statistics, a causal model (also called a structural causal model) is a conceptual model that represents the causal mechanisms of a system. Causal models often employ formal causal notation, such as structural equation modeling or causal directed acyclic graphs (DAGs), to describe relationships among variables and to guide inference.
Tree (graph theory)In graph theory, a tree is an undirected graph in which every pair of distinct vertices is connected by exactly onepath, or equivalently, a connectedacyclic undirected graph. A forest is an undirected graph in which any two vertices are connected by at most one path, or equivalently an acyclic undirected graph, or equivalently a disjoint union of trees.
ProbabilityProbability concerns events and numerical descriptions of how likely they are to occur. The probability of an event is a number between 0 and 1; the larger the probability, the more likely an event is to occur. This number is often expressed as a percentage (%), ranging from 0% to 100%. A simple example is the tossing of a fair (unbiased) coin.*As an Amazon Associate I earn from qualifying purchases.