Analysis

Analysis is one of the key concepts in Decision Analysis. In contrast with evaluation, which is merely a calculation directed from inputs (option descriptions) to outputs (evaluation results), analysis is understood as an active involvement of participants who are trying to find answers to questions such as:

  • Are option evaluations in accordance with expectations? Are they ‘correct’? If not, why?

  • How do the options compare with each other? Which one is the best and why?

  • Can we explain and justify the evaluations? What are the most important strong and weak points of individual options?

  • What if something changes: What if we try a new option? What if an option becomes unavailable? What if some option characteristics change?

  • How sensitive is the evaluation to small changes of the model (such as addition or deletion of an attribute, modification of some decision rules)?

In other words, analysis is a creative and possibly repetitive application of decision models aimed at better understanding of the decision problem, better understanding of options, their characteristics and consequences, and better justification of the decision. In general, this involves techniques such as: what-if analysis, sensitivity analysis, stability analysis, etc.

In DEXi, analyses are mostly carried out on the Evaluation Page, where you can:

  • Review intermediate and overall results of option evaluation. In order to clarify and justify the results, you may focus on particularly bad or good evaluations.

  • Change individual option values and immediately see the effects on evaluation results.

  • Employ commands on the Analysis Menu (or corresponding toolbar buttons) to perform the analyses: Plus-minus-1 analysis, Selective explanation and Comparison of options.

Some analyses can also take place elsewhere:

  • On the Options Page, you can duplicate an option description and prepare it for ‘what-if’ analysis.

  • On the Model Page, you can change any model component and retry the evaluation by opening the Evaluation Page.

  • Various charts and reports may provide further insight into the evaluation process and achieved results.