DK Essential Managers: Making Decisions

Using Models

As a decision maker, you should become familiar with “modeling,” such as simple spreadsheets or computer-generated graphics. Use these vital tools to test variables, test relationships between data, and predict the consequences of alteration in any factors.

Simulate and predict the future rather than waiting for it to happen.

Using computers

Processes of any kind can be simulated mathematically to imitate real-life causes and effects. Many computer programs go beyond simple spreadsheets to explore and illustrate what would happen if certain decisions were made, and to anticipate the long-term effects of competitors’ reactions. ...