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 ...

You can use decision trees to guide you in deciding among several alternatives. The decision-tree method allows you to approach the problem in a structured and systematic way to arrive at a logical ...

A decision tree is a machine learning technique that can be used for binary classification or multi-class classification. A binary classification problem is one where the goal is to predict the value ...

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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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 ...

In today’s fast-paced business environment, making well-informed decisions quickly is a crucial skill for leaders. Understanding different models of decision-making can provide you with the tools to ...