decision analysis


Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.

de·ci·sion a·nal·y·sis

a derivative of operations research and game theory that involves identifying all available choices and the potential outcomes of each, in a series of decisions that have to be made about patient care-diagnostic procedures, therapeutic regimens, prognostic expectations; the range of choices can be plotted on a decision tree.

decision analysis

Clinical decision analysis Decision making
1. An approach to decision making under conditions of uncertainty, involving modeling of sequences or pathways of multiple possible strategies–eg, of diagnosis and treatment for a particular clinical problem to determine which is optimal; DA is based on available estimates–drawn from the literature or from experts of the probabilities that certain events and outcomes will occur and the values of the outcomes that would result from each strategy. See Decision tree.
2. An analysis in which '…a problem is stated, assumptions concerning probabilities and utilities are made, and a conclusion is reached based on the results. If the reader (of the analysis) agrees with the structure, assumptions, and probabilities of the analysis, then he or she must agree with its conclusion.' See Algorithm, Critical pathway.

decision analysis

A logical, consistent approach to making a medical decision when its consequences cannot be foretold with certainty. Uncertainties in medical practice are due to many factors (e.g., biological variation and limitations in the clinical data available for an individual patient). There are three steps in the analysis: 1. the consequences of each option is described schematically by the use of a decision tree; 2. probability is used to quantify the uncertainties inherent in each option; and 3. each possible outcome is designated by a number that measures the patient's preference for that outcome as compared with the others. After the last step is completed, each outcome is assigned a “utility” value in which 1.0 indicates a perfect outcome and 0 is the worst possibility. Decision analysis may be used to help members of the health care team and the patient make logical choices concerning management of illness.

decision

a choice between a number of possible answers to a question.

decision analysis
a systematic approach to decision making under conditions of imperfect knowledge; a practical application of probability theory. Used to calculate the optimal strategy from among a series of alternative strategies. May be expressed graphically in the form of a decision tree (below).
decision making
making a decision can be done in three principal ways and many variations and mixtures of the methods: (1) rote, the decision is made on the basis of a set of rules and no selectivity is required; (2) intuitive, decisions are made on the basis of cerebrally stored information and reasoning systems which permit a fast response. The increasing complexity of veterinary clinical questions increases the probability of error; (3) decision analysis, a means of solving complicated problems by including all of the factors that could possibly affect the outcome of the analysis in a series of sequential questions. This gives each of the factors an opportunity of affecting the outcome. The chance of error by omission can be eliminated but the process is prolonged.
decision theory
the theoretical basis for decision analysis.
decision tree
a diagrammatic representation of the possible outcomes and events used in decision analysis. The questions to be asked in an analysis of a question are arranged as a series of nodes each with a yes and no branch, creating an arborization effect. The sequential steps proceed with each step depending on the decision made in the preceding step.
References in periodicals archive ?
Decision Frameworks is a unique decision analysis training, consulting, and software firm founded by Ellen Coopersmith in 1999, a Petroleum Engineer by degree with over fifteen years' experience training and applying the practical use of decision analysis across the energy industry.
Get the real story on how Decision Analysis and Richard Gabriel produce extraordinary results for their clients against improbable odds.
To alleviate these situations as much as possible, particularly in professional life, Brown offers a number of sophisticated but practical tools, including those useful in conducting a decision analysis, evaluating a choice quantitatively, dealing with value judgments and uncertainty, creating decision-aiding strategies, assessing and inferring probabilities, and eliciting preferences.
Its forecasting and sensitivity analysis combined with a full graphical interface make it easy to isolate the key facts and figures needed for Six Sigma decision analysis, facilitating the development of efficient and cost-effective process improvements.
It could be as high as $250 billion, according to a report published in the upcoming issue of the INFORMS publication Decision Analysis and authored by Detlof von Winterfeldt and Terrence M.
His extensive experience includes dozens of decision analysis projects in areas as diverse as investment planning and nuclear waste isolation.
IDM(TM) is a unique blend of facilitative techniques and decision analysis methodologies developed over two decades of industry experience.
Predix is a sophisticated decision analysis system that lawyers can use to evaluate their inventory of commodity litigation - small to medium size cases of a repetitive nature.
Utilizing advanced financial evaluation and decision analysis techniques, Maxiom Group's new service is designed to help life sciences executives make critical, high value business decisions that translate into profits and market opportunities.