Analytical System with Decision Tree for Economic Benefit

J. Tyrychtr

AGRIS on-line Papers in Economics and Informatics, 2017, vol. 09, issue 4

Abstract: Data processing is an important aspect of business decision support systems (DSS). A good analytical system to process these data is essential to implement as a primary pillar for the development of complex expert systems. Businesses themselves are constantly confronted with deciding on investment opportunities to improve their performance. An important criterion for selecting investment is its profitability which cannot be easily determined when investing in analytical systems. Currently, there are two types of approaches to evaluating investments into information systems: normative and positive approaches. The simplest form of decisional analytical modeling is the decision tree (normative approach). The purpose of the article is to illustrate decision tree analysis as a component of an analytical system for evaluating two decision alternatives. The test case is demonstrated on an example of decision-making in agriculture.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aolpei:276081

DOI: 10.22004/ag.econ.276081

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