Business Bites: Decision Matrix Analysis
Sara shares a brand new Business Bite on Decision Matrix Analysis: a systematic approach to making complex business decisions. It involves scoring options against predefined criteria and creating a weighted total to determine the best choice. This method has been used since 1960 and gained popularity as businesses sought more structured decision-making approaches. Decision Matrix Analysis can be applied to various scenarios, such as selecting a vendor or prioritizing projects. Before using this method, it is important to define clear and measurable criteria and assign appropriate weights and scores to each criterion. Subscribe for new weekly episodes!