MIS 2101.711 – Jonathan Latko – Summer 2018

Weekly Question #2

Leave your response as a comment on this post by the beginning of class on May 22, 2018. Your response only needs to be about three or four sentences. These weekly questions should reinforce class discussions, readings and show some insight.  

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Here is the question:

This week, we reviewed Business Rules, Decision Trees & Conceptual Architecture Diagrams.  What are some other areas, other than information systems, where you could see a decision tree being really helpful?  Why?  

4 Responses to Weekly Question #2

  • A decision tree could be helpful when trying to figure out how to deal with what kind of car you want to buy. You can create a decision tree first by the type of car, then if you want a 4 door or coupe, 4 cylinder or 6 cylinder, and etc. There are many things you can put on a decision tree for a car that can help you narrow down your decision.

  • I could see a decision tree being useful in the fast food industry or on a production line in a factory. Anything that requires decisions to be made that can have multiple players or moving parts involved can see a benefit in using a decision tree. I think there are many things that it could be useful for especially for figuring out the path which makes most sense.

  • Decision trees are used in multiple places and one example of where they can be used other than IS is Finance. I used a decision tress that basically divides the client into three different types of investors for our platforms we offer in regards to investing. If the client would prefer to make them on his own the tree leads to a self-directed solution, if the client would like to manage it through an online risk assessment survey it leads to a guided investing solution, and if the client would prefer to work with an advisor it leads to a select portfolio solution. There are multiple other variables involved, but that is just a short snippet of how a decision tree could be used in the finance industry.

  • I can see a decision tree being helpful when selecting a stock to buy. Depending on your investment theory, strategy, or policy, you must make certain decisions to determine if a stock should be purchased. For example, an investor purchasing a stock may want to make sure that the market capitalization, price-to-earnings ratio, or free cash flow of a company are at a certain level before buying shares of the company. Since investors and equity traders take into consideration multiple different criteria before making an investment, a decision tree can be very useful.

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