Implications of the main mathematical methods on marketing decision making process
Ioana Olariu
Abstract
Open-access reader
Ioana Olariu
Abstract
Open-access reader
Decision analysis incorporates both the awareness of decision makers, which is located between total confidence and total ignorance and action values assigned to outcomes variants, meaning decision makers preferences. Marketing actions are often insecure. Under these conditions, to achieve the desired result, the company management shall have decision analysis models based on mathematical theories developed in recent decades. Decision analysis is the procedural and formal logic highlights include decision makers a situation and a number of techniques that determine the selection of a solution which solves the problem. Methodological approach of this process serves to form makers options.
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Decision analysis incorporates both the awareness of decision makers, which is located between total confidence and total ignorance and action values assigned to outcomes variants, meaning decision makers preferences. Marketing actions are often insecure. Under these conditions, to achieve the desired result, the company management shall have decision analysis models based on mathematical theories developed in recent decades. Decision analysis is the procedural and formal logic highlights include decision makers a situation and a number of techniques that determine the selection of a solution which solves the problem. Methodological approach of this process serves to form makers options.
Key concepts: Ignorance, Decision analysis, Management science, Process (computing), Computer science, Selection (genetic algorithm), Evidential reasoning approach, Action (physics)