Steps of Decision making, decision making tree

 

@learningworld

Decision Making 

The cognitive process results in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. Every decision-making process produces a final choice. It begins when we need to do something but we do not know what. Common examples include shopping, deciding what to eat when to sleep, etc.

Five Decision-making Steps
GOFER
One of the earlier processes, developed by Australian psychologist Leon Mann in the 1980s, is known as the GOFER process. GOFER represents an acronym for five decision-making steps:
Goal clarification
Options generation
Facts-finding
Effects.
Review.

Goal clarification.
In this step, the decision-maker must determine what their goal is and what they are trying to achieve with their decision.

Options generation.
The decision-maker suggests different options that are available to them and that would help them achieve their goals.

Facts-finding.
During this stage, the decision-maker examines what evidence they have on each alternative and what
the information they are missing that could help them make their decision.

Effects 
The decision-maker considers the positive and negative outcomes of each alternative.

Review.
Now that a decision has been arrived at, the decision-maker considers how it will be implemented.

Decision tree:

A decision tree is a forecast model that centers possibilities on newly acquired information using a flowchart-like structure. It creates data forks and places responses at nodes in the leaf. For regression and classification issues, decision trees are utilized, offering models that are simple to understand.