Word of the Day: decision tree

Word of the Day Daily updates on the latest technology terms | July 12, 2018 decision tree A decision tree is a graph that uses a branching method to illustrate every possible outcome of a decision. Decision trees can be drawn by hand or created with a graphics program or specialized software. Informally, decision trees are useful for focusing discussion when a group must make a decision. Programmatically, they can be used to assign monetary/time or other values to possible outcomes so that decisions can be automated. Decision tree software is used in data mining to simplify complex strategic challenges and evaluate the cost-effectiveness of research and business decisions. Variables in a decision tree are usually represented by circles. Here's a simple example: An email management decision tree might begin with a box labeled "Receive new message." From that, one branch leading off might lead to "Requires immediate response." From there, a "Yes" box leads to a single decision: "Respond." A "No" box leads to "Will take less than three minutes to answer" or "Will take more than three minutes to answer." From the first box, a box leads to "Respond" and from the second box, a branch leads to "Mark as task and assign priority." The branches might converge after that to "Email responded to? File or delete message." Quote of the Day "As the business world continues to embrace analytics to sharpen decision-making, using intelligent business process management suites is becoming even more attractive." - Christine Parizo Trending Terms decision tree software business process management decision management decision support system backpropagation algorithm predictive analytics Learning Center Ten steps to start using predictive analytics algorithms effectively Here are 10 steps to help put a solid foundation in place for using predictive analytics algorithms that improve business processes and performance. What sports can teach about data-driven decision-making process Businesses have a lot to learn from sports teams when it comes to the data-driven decision-making process, says one MIT lecturer. Choosing the right data discovery platform for the enterprise Visualizations, IT management, data sources and compliance features are just some considerations for businesses in the market for data discovery tools. Ultimately, business goals determine the best data discovery platform, so it's vital that the features deliver. Becoming a data-driven enterprise requires art, science A data-driven enterprise doesn't have to turn all of its decisions over to algorithms. One business makes room for art, as well as science in its process. Clearing the roadblocks to predictive business analytics adoption Despite the benefits of predictive business analytics, adoption is still low due to people, processes and technology. Quiz Yourself What do data scientists call data that cannot be understood and interpreted correctly by machines? a. dense data b. noisy data Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter This e-newsletter is published by the TechTarget network. To unsubscribe from Whatis.com, click here. Please note, this will not affect any other subscriptions you have signed up for. TechTarget, Whatis, 275 Grove Street, Newton, MA 02466. Contact: webmaster@techtarget.com Copyright 2018 TechTarget. All rights reserved.