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Business Intelligence and Analytics, Chap 9 flashcards |
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  • Analytic hierarchy process

    A modeling structure for representing multi criteria problems with sets of criteria and alternatives commonly found in business

    AHP

    Analytic hierarchy process

    certainty

    A condition under which is assumed that future values are known for sure and only one result is associated with an action

    decision analysis

    Methods for determining the solution to a problem, typically when it is inappropriate to use iterative algorithms

    Decision table

    Information and knowledge conveniently organized in a systematic, tabular manner, often prepared for further analysis

    Decision tree

    A graphical presentation of a sequence of interrelated decisions to be made under assumed risk. This technique classifies specific entities into particular classes based upon the features of the entities

    Decision variable

    A variable in a model that can be changed and manipulated by the decision maker

    Dynamic models

    Models whose input data are changed over time

    Environmental scanning and analysis

    A process that involves conducting a search for and an analysis of information in external databases and flows of information

    Forecasting

    Predicting the future

    Goal seeking

    Analyzing a model to determine the level an independent variable should take in order to achieve a specific level or value of goal variable

    Influence diagram

    A diagram that shows the various types of variables in a problem and how they are related to each other (eg, decision, Independent, results)

    Intermediate result variable

    A variable that contains the value of an intermediate outcomes in mathematical models.

    Linear programming

    A mathematical model for the optimal solution of resource allocation problems. All the relationships among the variables in this type of model are linear.

    LP

    Linear programming

    Mathematical model

    A system of symbols and expressions that represent a real situation.

    Mathematical programming

    An optimization technique for the allocation of resources, subject to constraints.

    Multi-dimensional analysis

    A modeling method that involves data analysis in several dimensions.

    modeling

    Multi-dimensional analysis

    Multiple goals

    Refers to a decision situation in which alternatives are evaluated with several, sometimes conflicting, goals

    Optimal solution

    The best possible solution to a modeled problem

    Parameter

    Uncontrollable variable

    Uncontrollable variable

    A factor that affect the results of a decision but is not under the control of the decision maker.

    Result variable

    A variable that expresses the results of a decision, usually one of the goals of a decision making problem

    Risk

    A probabilistic or stochastic decision situation

    Risk analysis

    A decision making method that analyzes the risk, based on assumed known probabilities, associated with different alternative

    Sensitivity analysis

    A study of the effect of a change in one or more input variables on a proposed solution

    Static models

    Models that describe a single interval of a situation

    Uncertainty

    in expert systems, a value that cannot be determined during a consultation

    What if analysis

    a process that involves asking a computer what the effect of changing some of the input data or parameters would be

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