DecideIT – an overview

For analysis of decision situations with many criteria, uncertainty and risk.

DecideIT provides both quantitative and qualitative modeling in the same framework.

DecideIT based on research in operations research, mathematics, computer science, philosophy, business administration and organizational theory.

Protected by US Patent # 7,257,566.

DecideIT is a world leading tool for:

· Investment
· Purchasing Decisions
· Procurement
· Planning Decisions
· Risk management
· And many other decision-situations

DecideIT, is closely matched to the PDMP methodology , though it would be more accurate to say that we built the software in accordance with the needs of the methodology. The main strength of both the methodology and the software is that they can manage both imprecise quantitative information as well as qualitative information. Our methodology, unlike many others, doesn’t demand time consuming stipulation of refinements unless these are absolutely necessary, which they almost never are. We’re also able to manage soft data such as good-will effects and other values that can be difficult to express in numerical terms at all. The software also makes it possible to work with several different perspectives on the same problem.
A point we’d like to make, so as to avoid any possible misunderstanding, is that the PDMP methodology in itself does not always reveal which decision should be made. What it does do is to facilitate the creation of structured, well founded and thoroughly worked decision bases. The techniques employed for analysing a decision situation point out weak and strong alternatives, with a few extra considerations. Realistically the PDMP methodology and the software should be regarded together as supporting aids for facilitating decision making, neither more nor less. The central point is that the initiative and responsibility still lies with a decision maker – one of flesh and blood.

In short

What distinguishes DecideIT from other decision Tools?
  • Handles imprecise probabilities, values, weights, as well as comparative relations between variables. This is actually the only real difference compared to other decision tools, but is of utmost importance in terms of usability.
  • Such advanced handling of  vague information (”Uncertainty”), in the form of interval and comparisons makes a big difference when it comes to converting reality to model.
  • Often vague information is enough to clarify the best alternative, and if not DecideIT helps the decision maker to fins weaknesses in the decision material.
  • The interaction with the tool is facilitated by the handling of uncertain information.
  • Different perspectives/attributes/criteria, such as e.g. financial, environmental, psychological or social aspects can be handled in more logical ways.
  • Is built on decades of research within decision theory and mathematics.
  • Patented algorithms.
  • Fast calculations.

Use of DecideIT

More or less all types of strategic decisions with several alternatives have to be considered, but in particular when:

  • serious consequences need to be avoided
  • there is uncertainty involved
  • there are several criteria in conflict with each other
  • it is important to further enlighten and structure the decision problem to be able to get professional opinions or in any way create a transparent decision

Result

The decision maker increases the quality of the decision making, thus increasing the chances to choose the best alternative.

Decreases the leas time from problem to action.

DecideIT, therefore, contributed to lowering the costs of complex decision processes.

Investors

            And Private Investors

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