The key to selecting options from a range of alternatives is the decision-making process. The optimal choice can only be made after carefully analyzing all the options. If there is only one way to carry out a particular performance, no decision needs to be made.
When Nikki arrived at the student parking lot, she parked in the very first spot that became available. She estimated that the first open space had a $5 premium over all other possibilities because she didn't want to miss her exam. In this case, optimization in differences is used because she evaluates the variation in net benefits among the options.
<h3>What is IBM decision optimization?</h3>
You can use prescriptive analytics capabilities provided by IBM® Decision Optimization, a family of optimization technologies, to help you make better decisions and provide better business results.
<h3>How do managers make better decisions?</h3>
Before managers take any advice on how to make better decisions, they must recognize how decisions differ. Decisions vary along two dimensions: control and performance. Control considers how much we can influence the terms of the decision and the outcome. And performance addresses the way we measure success.
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