A decision model is a mathematical simulation of the variables and elements inherent in business decisions, aimed at achieving the objectives of an organization by analyzing the relationships and constraints among those variables.
A Decision Tree is a graphical representation used for making decisions and mapping possible outcomes based on different choices. The tree structure allows for evaluating the impact of decisions and estimating their probabilities and expected values.
EMV is a critical concept in decision-making, particularly when using decision trees. It involves predicting future monetary outcomes and their likelihood to guide strategic choices.
An integral part of financial analysis, financial modelling involves creating representations of the financial performance of a business or project over time. These models aid in decision-making by simulating different scenarios and outcomes based on historical data and assumptions.
