Method of decision tree applied in adopting the decision for promoting a company
DOI:
https://doi.org/10.26458/1535Keywords:
decision, decision-making methods, decision trees, information systemAbstract
The decision can be defined as the way chosen from several possible to achieve an objective. An important role in the functioning of the decisional-informational system is held by the decision-making methods. Decision trees are proving to be very useful tools for taking financial decisions or regarding the numbers, where a large amount of complex information must be considered. They provide an effective structure in which alternative decisions and the implications of their choice can be assessed, and help to form a correct and balanced vision of the risks and rewards that may result from a certain choice. For these reasons, the content of this communication will review a series of decision-making criteria. Also, it will analyse the benefits of using the decision tree method in the decision-making process by providing a numerical example. On this basis, it can be concluded that the procedure may prove useful in making decisions for companies operating on markets where competition intensity is differentiated.References
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