A decision tree can help you make tough choices between different paths and outcomes, but only if you evaluate the model correctly. Decision trees are graphic models of possible decisions and all ...

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 ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

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 ...

For example, you might want to predict the sex of a person (male or female) based on their age, state where they live, income and political leaning. There are many other techniques for binary ...

In the high-stakes arena of corporate strategy, where million-dollar decisions are sometimes made over lukewarm coffee and passive-aggressive slide decks, decision-making isn’t just king — it’s the ...

Decision trees are useful for relatively small datasets that have a relatively simple underlying structure, and when the trained model must be easily interpretable, explains Dr. James McCaffrey of ...

Over the past several decades, organizations have invested vast resources in data infrastructure to improve decision success, but the results are mixed. A new approach called “decision-back” flips the ...

Entrepreneurs are natural born problem solvers. To solve difficult problems, you need to make difficult decisions. In this post, I will unpack five tips to help you improve your decision making ...