Managing Risks, Managing Measures: Decision Support Methodologies in Business

“Though many academic methods (decision aid tools) exist, few actually reach the audience they need to reach because of the barrier between academic and business languages, as well as the ability to produce workable and usable tools. This article summarizes what I believe are the methodologies most used in Business, and some of the tools that are commercially available.”

Editor’s Note: Especially interesting is the table summarizing the methodologies most used in Business (link to the table is found on page 4 of the article). Tools discusses include:
AHP – Analytic Hierarchy Process
Artificial Intelligence (AI)
Bayesian Loss Functions
Bayesian Nets
Bayesian Belief Networks
Business Rules
Cognitive Mapping
Data Envelopment Analysis (DEA)
Data Flow Diagrams
Decision Tree
Fuzzy Logic
Neural Nets
Multiattribute Utility Value (MAV)