Decision Trees page 149

Alternative representation of the desicion table.

http://mindtools.com

Shows the relationships of the problems graphically and can handle complex situations in a compact form.

Can be cumbersome if there are many alternatives

Tools and Techniques

Data mining

• Statistical methods
• Decision trees
• Case based reasoning
• Neural computing
• Intelligent agents
• Genetic algorithms

Text Mining

• Hidden content
• Group by themes
• Determine relationships

Categories of models pg 140

Category: Optimisation of problems with few alternatives

• Process & Objective: Find the best solution from a small number of alternatives
• Representative Techniques: Decision Tables & Decision Trees

Category: Optimisation via algorithm

• Process & Objective: Find the best solution from a lareg number of alternatives, using a step by step improvement process.
• Representative Techniques: Linear and other mathematical programming models, network models.

Category: Optimisation via an analytical formula

• Process & Objective: Find the best solution in one step using a formula.
• Representative Techniques: Some inventory models.

Category: Simulation

• Process & Objective: Finding a good enough solution or the best among the alternatives checked using experimentation.
• Representative Techniques: Several types of simulation.

Category: Heuristics

• Process & Objective: Find a good enough solution using rules.
• Representative Techniques: Heuristic programming, expert systems.

Category: Predictive models

• Process & Objective: Predict the future for a given scenario.
• Representative Techniques: Forecasting models, Markov analysis

Category: Other models

• Process & Objective: Solve a what if case using a formula.
• Representative Techniques: Financial modeling, waiting lines.