Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

A decision tree can help you make tough choices between different paths and outcomes, but only if you evaluate the model correctly. Decision trees are graphic models of possible decisions and all ...

Decision tree analysis is a method of constructing a decision tree, which is a detailed representation of numerous potential solutions that can be utilized to address a specific problem to choose the ...

In last month’s article, we touched on the importance of probability in our daily lives. We shared brain teasers and non-intuitive facts that highlighted how an understanding of probability can help ...

Decision trees are useful for relatively small datasets that have a relatively simple underlying structure, and when the trained model must be easily interpretable, explains Dr. James McCaffrey of ...

Dr. James McCaffrey of Microsoft Research says the technique is easy to tune, works well with small datasets and produces highly interpretable predictions, but there are also trade-off cons. The goal ...