Using A Decision Tree to Drive a Decision
A decision tree is a diagram representing the series of possible options and next steps as you work your way through a decision.
When to Use One
A decision tree is most valuable when you are considering options where the outcomes are not certain. The decision tree guides you to think about and predict the likelihood of each option occurring. This helps you more clearly see the benefits of one option over another.
Examples of a Decision Tree in Action
This video created by the Decision Education Foundation shows how using a Decision Tree can help a coach increase the odds of winning a basketball game.
This video created by the University of Toronto shows how a company could determine whether it should buy or manufacture a key part to maximize profit.
Additional Reading and Resources
Harvard Business Review: Decision Trees for Decision Making