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Decision Modeling to Increase Forecast Usability

By James Taylor posted 5 days ago

  

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diagramI recently wrote an article for Foresight magazine, and I thought the folks in this group might find it interesting. The article is called "Decision Modeling to Increase Forecast Usability." In it, I argue that forecasts have no intrinsic value - regardless of their quality - and that their true value comes when they're used to support decisions. I discuss how to use the Decision Model and Notation or DMN standard to document decisions and bridge the gap between forecasts and decision-making, so forecasters can understand how their forecasts are being applied.

You can access it at forecasters.org/foresight/. If you are not already a reader of the magazine, I'm pretty sure you can download one free issue to try it out!

I blog on decision modeling over in the Decision Management group - check out this series of articles for more details Decision Modeling - A Blog Series

Enjoy

James


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