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Analytical System with Decision Tree for Economic Benefit

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  • Tyrychtr, J.

Abstract

Data processing is an important aspect of business decision support systems (DSS). A good analytical system to process these data is essential to implement as a primary pillar for the development of complex expert systems. Businesses themselves are constantly confronted with deciding on investment opportunities to improve their performance. An important criterion for selecting investment is its profitability which cannot be easily determined when investing in analytical systems. Currently, there are two types of approaches to evaluating investments into information systems: normative and positive approaches. The simplest form of decisional analytical modeling is the decision tree (normative approach). The purpose of the article is to illustrate decision tree analysis as a component of an analytical system for evaluating two decision alternatives. The test case is demonstrated on an example of decision-making in agriculture.

Suggested Citation

  • Tyrychtr, J., 2017. "Analytical System with Decision Tree for Economic Benefit," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 9(4).
    • Handle: RePEc:ags:aolpei:276081
    DOI: 10.22004/ag.econ.276081
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    References listed on IDEAS

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    1. Jack P. C. Kleijnen, 1980. "Information Systems in Management Science---Bayesian Information Economics: An Evaluation," Interfaces, INFORMS, vol. 10(3), pages 93-97, June.
    2. Frada Burstein & Clyde Holsapple, 2008. "Handbook on Decision Support Systems 1," International Handbooks on Information Systems, Springer, number 978-3-540-48713-5, November.
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    Keywords

    Agricultural Finance;

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