Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

One of the most important components of decision making is process organization. Using a decision tree to choose between different courses of action presents possible outcomes in graphic form, making ...

Dr. James McCaffrey of Microsoft Research says the technique is easy to tune, works well with small datasets and produces highly interpretable predictions, but there are also trade-off cons. The goal ...

Decision tree analysis is a method of constructing a decision tree, which is a detailed representation of numerous potential solutions that can be utilized to address a specific problem to choose the ...

The two main downsides to decision trees are that they often don't work well with large datasets, and they are highly susceptible to model overfitting. When tackling a binary classification problem, ...

Junior faculty are often told to protect their time, but nobody provides instructions for how to do so. As an assistant professor at a public university, I have struggled to balance my course load, my ...

More often than not, the way you define your initiatives foretells their success. Once a year, most companies have their leadership team convene to put together their strategic plan: Here’s where we ...