A decision model which considers qualitative factors
Terry L. Payne
Abstract
Terry L. Payne
Abstract
Today's key business decisions are frequently based solely on the judgement of 'technical experts'. While this may be the ultimate decision point, a more effective method would be to compare the alternative courses of action on the basis of some quantifiable measure. This problem is resolved by developing a mathematical model which includes qualitative factors in the quantitative analysis.
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Today's key business decisions are frequently based solely on the judgement of 'technical experts'. While this may be the ultimate decision point, a more effective method would be to compare the alternative courses of action on the basis of some quantifiable measure. This problem is resolved by developing a mathematical model which includes qualitative factors in the quantitative analysis.
Key concepts: Judgement, Management science, Computer science, Action (physics), Point (geometry), Key (lock), Measure (data warehouse), Decision model