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Top Links: >> 80. Technology >> Internet Technology Summit Program >> 7. Enterprise, Knowledge Architecture, IoT, AI and ML
Current Topic: 7.1.Critical Thinking - the first step to Knowledge Engineering
Sub-Topics: 7.1.1.Elements of Critical Thinking | 7.1.2. The Benefits and Barriers of Critical Thinking | 7.1.3. Decision Making Models and Algorithms | 7.1.4. Prompt Engineering
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7.1. Critical Thinking - the first step to Knowledge Engineering

Decision Making Models

Introduction:

Making decisions is our everyday routine, right? Making good decisions is an art and science.
Think of a decision as a multi-dimensional picture. Each dimension presents a factor or two, which influence the decision. What are the factors that must be taken into consideration?

The decision must be rational and based on facts. The decision must support your values with the proper means towards the goals.

Rationality:

In simple words rational decisions are those that make sense. Rational decisions are made based on analysis of known facts, values and priorities.

Facts:
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It is often happens that only top of an iceberg of facts is visible and research is needed to uncover more facts related to the area, where decision must be made.

Values and priorities:

Values differ from one person to another, because itís all about internal perception and how that person came about to reaching their goal. When coming up with goals it is important to make priorities.

Means and Ends:

When people talk about means and ends the discussion is about what can be done (means) to achieve specific goals (ends).

Emotions in decision-making:
A complete suppression of emotions in decision-making might not be the best avenue. Emotions can be disturbing, but also can be a helpful factor. Best decision makers try to include anticipation of emotions and emotional impact, but not to allow themselves to be blind by emotions.

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