The objective of this study was to explore decision tree as a viable tool for decision making through viable graphical demonstrations, identifying and measuring assumptions within given environmental limits and ranking of priorities or options is a modern tool that can be simplistically implemented or made complex with statistical probabilities and with consideration that action taken would be comprehensive and dynamically evolving. Business decisions are usually conclusions of a two-way thinking or more. The ideal situation can be varied to get a basic scenario or the best scenario and this can be captured graphically or visually by the decision tree model which is an all-encompassing management decision tool. A Desk review research method was employed in this expository study. The study found out that decision tree models, though is an internal decision making tool, the usage can be externalized and included in financial statements and other reports as part of the sensitivity analysis and as a build-up of the financial package, investment decisions, sensitivity analysis, cost analysis and financial ratio analysis as key business areas The study concluded that the usage of decision trees in modern management is limitless and can be in a simpler form without mathematical colouration or laced with probabilistic statistical effects.
| Published in | International Journal of Information and Communication Sciences (Volume 6, Issue 4) |
| DOI | 10.11648/j.ijics.20210604.11 |
| Page(s) | 85-92 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2021. Published by Science Publishing Group |
C4.5, CART, Decision Tree, Probabilities, Ratio Analysis, Sensitivity Analysis, Uncertainties
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APA Style
Alao Olubunmi, Alawode Olufemi Peter, Ajibade Ayodeji. (2021). The Relevance of Decision Tree to Organisations in Nigeria. International Journal of Information and Communication Sciences, 6(4), 85-92. https://doi.org/10.11648/j.ijics.20210604.11
ACS Style
Alao Olubunmi; Alawode Olufemi Peter; Ajibade Ayodeji. The Relevance of Decision Tree to Organisations in Nigeria. Int. J. Inf. Commun. Sci. 2021, 6(4), 85-92. doi: 10.11648/j.ijics.20210604.11
AMA Style
Alao Olubunmi, Alawode Olufemi Peter, Ajibade Ayodeji. The Relevance of Decision Tree to Organisations in Nigeria. Int J Inf Commun Sci. 2021;6(4):85-92. doi: 10.11648/j.ijics.20210604.11
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Download@article{10.11648/j.ijics.20210604.11,
author = {Alao Olubunmi and Alawode Olufemi Peter and Ajibade Ayodeji},
title = {The Relevance of Decision Tree to Organisations in Nigeria},
journal = {International Journal of Information and Communication Sciences},
volume = {6},
number = {4},
pages = {85-92},
doi = {10.11648/j.ijics.20210604.11},
url = {https://doi.org/10.11648/j.ijics.20210604.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijics.20210604.11},
abstract = {The objective of this study was to explore decision tree as a viable tool for decision making through viable graphical demonstrations, identifying and measuring assumptions within given environmental limits and ranking of priorities or options is a modern tool that can be simplistically implemented or made complex with statistical probabilities and with consideration that action taken would be comprehensive and dynamically evolving. Business decisions are usually conclusions of a two-way thinking or more. The ideal situation can be varied to get a basic scenario or the best scenario and this can be captured graphically or visually by the decision tree model which is an all-encompassing management decision tool. A Desk review research method was employed in this expository study. The study found out that decision tree models, though is an internal decision making tool, the usage can be externalized and included in financial statements and other reports as part of the sensitivity analysis and as a build-up of the financial package, investment decisions, sensitivity analysis, cost analysis and financial ratio analysis as key business areas The study concluded that the usage of decision trees in modern management is limitless and can be in a simpler form without mathematical colouration or laced with probabilistic statistical effects.},
year = {2021}
}
TY - JOUR T1 - The Relevance of Decision Tree to Organisations in Nigeria AU - Alao Olubunmi AU - Alawode Olufemi Peter AU - Ajibade Ayodeji Y1 - 2021/11/19 PY - 2021 N1 - https://doi.org/10.11648/j.ijics.20210604.11 DO - 10.11648/j.ijics.20210604.11 T2 - International Journal of Information and Communication Sciences JF - International Journal of Information and Communication Sciences JO - International Journal of Information and Communication Sciences SP - 85 EP - 92 PB - Science Publishing Group SN - 2575-1719 UR - https://doi.org/10.11648/j.ijics.20210604.11 AB - The objective of this study was to explore decision tree as a viable tool for decision making through viable graphical demonstrations, identifying and measuring assumptions within given environmental limits and ranking of priorities or options is a modern tool that can be simplistically implemented or made complex with statistical probabilities and with consideration that action taken would be comprehensive and dynamically evolving. Business decisions are usually conclusions of a two-way thinking or more. The ideal situation can be varied to get a basic scenario or the best scenario and this can be captured graphically or visually by the decision tree model which is an all-encompassing management decision tool. A Desk review research method was employed in this expository study. The study found out that decision tree models, though is an internal decision making tool, the usage can be externalized and included in financial statements and other reports as part of the sensitivity analysis and as a build-up of the financial package, investment decisions, sensitivity analysis, cost analysis and financial ratio analysis as key business areas The study concluded that the usage of decision trees in modern management is limitless and can be in a simpler form without mathematical colouration or laced with probabilistic statistical effects. VL - 6 IS - 4 ER -
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