discuss your experience and plans for applying analytical methods in your managerial report or in your current (or targeted) profession

With the help of one or several of the recommended tutorials, discuss your experience and plans for applying analytical methods in your managerial report or in your current (or targeted) profession. (Write 1 Paragraph)

Then you need to comment on these opinions (1 paragraph per opinion):

Opinion #1

I am still learning how to apply the decision tree on to excel as I am not that much of an excel person. However, the decision tree is a supporting tool essential in observing the content of the branches to give a predicament of a possible target value. Since the nodes are branched off, it enables for a full framework of all possible outcome derived from the decision path which maybe critical in making the best decision. Further the decision tree is implemented with flowchart symbols, better for understanding and interpretation of the tree. These flowchart symbols are as follows: Decision node, chance node, alternative branch, rejected alternative, endpoint node. The decision tree is known for its simplicity, and by applying this analytical tool to the assignment would be less time consuming. Further, the decision tree is compatible with other decision-making tools, therefore should be fairly straightforward analytical tool without conflict. 

Opinion #2

Decision trees can be used in a variety of fields where important decisions need to be made on a constant basis. As we have learned previously, a number of things, such as pressure and stress, can affect a person’s decision making process. Having a visual aid such as a decision tree is a helpful tool for mangers. In a way, it allows a manager to use prospective hindsight before making a particular decision. They can follow a decision from beginning to end and see the different outcomes that can come from following different paths for a decision, without necessarily choosing a path at that moment and then realizing that it failed down the road; Or that the outcome was not what they desired from the particular decision chosen. They can essentially see the potential undesirable outcome that awaits them if they choose one path over another.

The decision tree is also a powerful tool in that it allows for managers to visually show why one decision was chosen over another and how the decision they are deciding on will have a more desirable outcome for the team versus going a different route. While not entirely foolproof, a decision tree provides a good layout for the analyzing multiple alternatives for a decision and seeing them play out visually. While it doesn’t mean that you will get the exact result that you have mapped out on your decision tree, you will be in a much better position, and the probability that it will turn out in your favor will be slightly higher than simply going on gut instinct as some managers will tend to do at moments. As a future project manager I feel that I am sure to make good use of a well laid out decision tree for analyzing decisions, especially ones that don’t require a simply yes or no answer.