Decision Making, A Fascinating Area Of Research

The decision making process includes cognitive processes that eventually lead to a choice in action while taking into consideration the alternative possibilities (Allen, Dorozenko, & Roberts, 2016). Not all choices have to lead to an action. The values and preferences of the person making the choice also comes into play when making the final decision. Problem-solving to obtain a certain goal or satisfactory by a solution is the main reason people go through the decision making process (Stefaniak, & Tracey, 2014). This process has many factors that end with one final result or solution. The decisions made can be rational or irrational and can be determined by explicit or tacit knowledge (Qingyao, Dongyu, & Weihua, 2016). Since the decision making process can be very difficult at time, psychologists have viewed the process in different perspectives to get a better understanding (Rossi, Picchi, Di Stefano, Marongiu, & Scarsini, 2015). The different perspectives include; psychological, cognitive, and normative or communicative rationality.

People should make decisions every day, some of those decisions are easy to make, while others are quite difficult to implement. An appropriately combined and organized decision-making process will help to control this issue and bring a positive outcome for those involved. The decision-making process may become challenging for people due to “the lack of structure and entail risk, uncertainly and conflict” (Bateman and Snell, 2012, p. 86). That is why people trying to make important personal or professional decisions should have an appropriate model to follow in order to avoid these challenges. Bateman and Snell identified six steps or stages of decision-making process

Decisions are what direct a average person's life. Some decisions are easy some are hard. But that’s the way of life and how it works.

Most decisions are made with analysis, but some are judgment calls not susceptible to analysis due to time or information constraints. Please write about a judgment call you’ve made recently that couldn’t be analyzed. It can be a big or small one, but should focus on a business issue. What was the situation, the alternatives you considered and evaluated, and your decision making process? Be sure to explain why you chose the alternative you did relative to others considered.

Every action a person takes is the result of having thought about what it is they think they should do and then doing it. Life is riddled with problems that require solving. Decisions are complex matters that require careful judgment and problem analysis especially when one is in a role where others look up to them and are affected by their decisions.

Almost everyone uses decision-making on a daily basis. The ability to make decisions is significant because possible outcomes can outweigh losses depending on the decision you choose to make. Decision-making helps to solve everyday problems, but has also been beneficial to solving several scientific issues like Bechera, Damasio, Damasio, and Anderson (1994) did in their study of the Iowa Gambling Task. There were a total of 50 participants in their study, where 44 men and women were from a normal control group and 6 men and women were E.V.R subjects. The subjects are told to select a card from four decks until they are told to stop. The subjects receive money depending on the deck they choose from. After so many turns and receiving money, they

Making good decisions is vital to living a successful and productive life. The ability to decide and choose wisely and rightly depends on the situation. Though we try to be as logical as possible in taking a decision, sometimes we end up making the wrong choices. So, it is important to understand how people decide things.. The sad truth is that people, even at the highest level, simply do not like to make good choices as every decision involves a certain amount of risk.

This is an interesting article that brings up a very interesting point about decision analysis that we had previously discussed. In my opinion, decision making is easy when we are backed with historical and hard data and facts and science. However, decisions turns into a controversy when emotions are added into the mix, especially when the decision is not to our favor, if the decision clashes with our beliefs and culture or even to what we think is logical.

Decision-making is always critical in people’s day-to-day lives. Individuals have to make choices between the very many options they have at their disposal. In doing so, sound judgement is needed, accompanied by much sobriety (Fay, & Montague, 2014). However, in trying to make sound decisions people always base their opinions on certain reference points. In fact, psychologists have generated much data, which shows that people rely so much on the pieces of information that they get to the extent that their judgement is affected. This usually presents the challenge of not making the best decision (Kansal & Sing, 2015).

Every day, people are inundated with decisions, big and small. Studies estimate that an adult makes about 35,000 remotely conscious decisions each day, while a child makes about 3,000. This number may sound absurd, but in fact, according to researchers at Cornell University, people make 226.7 decisions each day on just food alone. As one’s level of responsibility increases, so does the smorgasbord of choices you are faced with (Dr. Joel Hoomans). But what influences a person to choose between what is right or wrong? Most importantly, what influences a person to decide for their future? Understanding how people arrive at their choices is an area of cognitive psychology that has received attention. Theories have been generated to explain how people make decisions, and what types of factors influence decision making in the present and future (Inquiries). Scientific evidences combined with philosophical ideas prove that people are not capable of making choices on their

It has been said that decision making can be processed into focused attention to what may be a relevant aspect in how some decisions can be problematic and damaging to ones self esteem, finances, family life, social life, work life, and love life (Böhm & Pfister, 2008).

Decision making is one of the most vital tasks that an entrepreneur, company, or managers are often called to make in order to alter the cause of a business venture or influence the course a business will take. Decision analysis thus entails the discipline of appraising intricate alternatives with regard to values and uncertainty. Value, in most incidences, is expressed monetarily and is a major management concern. Additionally, decision analysis offers awareness into how distinct alternatives vary from each other as it offers propositions for new and improved alternatives. Decision making is a process which involves a methodical review of various pathways that the being made will result in while allowing the persons making the decisions to explore various outcomes for their decisions. Various methods are thus employed in decision making (Figueira, et al., (2005). This manuscript appraises some of these methods and offers the best approach in making decisions for a business. Various peer reviewed articles and printed texts are inferred upon in the analysis of the subject under review. The theoretical framework with regard to decision analysis is also appraised.

There are certain personality traits that team leaders require in order to assert influence and function properly in their role. As information and knowledge are disseminated throughout a team, the intellectual capacity of both the team and the organization is increased. Such a strategy is sometimes referred to as pyramiding or pyramid learning, meaning that knowledge is spread from one team member to another before eventually spreading throughout the entire team.

The importance of decision making in individual daily life and in organization level was demonstrated by two scientists, Arkes and Hammond (1992), in ‘Judgment and Decision making’ indentified the four types of information which decision maker requires constructing a decision tree.

Across a wide variety of fields, data emanating from the massive healthcare insurance providers such as government and private companies in healthcare are being collected and stored at tremendous pace. Thus, there is a need felt by most of the companies to manage their wealth of knowledge. Hence, due to the tremendous increase in data, extracting useful information from that data became important. Thus, to extract useful information from the database, Knowledge Discovery in the Database (KDD) is needed. Therefore, KDD is defined as a process of identifying valuable, important, useful and understandable patterns from a large complex database (Maimom & Rokach, 2007).