decision making software

decision making software - Much of the software designed to...

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Much of the software designed to aid in decision-making focuses on a cost-benefit or a risk-benefit analysis. In other words, it seeks to make a comparative investigation between two or more opposing choices that weighs all elements of the decision on similar criteria. For example, decisions that result in a low financial expenditure and high economic gain would be perceived as more valuable than decisions that result in high financial expenditure for low economic gain. These types of software, while useful in completing an analysis of this variety, are limited in scope. For one, they can only complete a hard, objective inquiry of multiple decisions and only if costs/risks and benefits can be accurately quantified. And while statistical analysis can be incorporated to help quantify generally qualitative elements – such as employee happiness – these estimates can sometimes fall short of evaluating the actual impact such a decision will have for the company. This is why another brand of software that will be the topic of this
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decision making software - Much of the software designed to...

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