What is the future trend of decision-making?

Wong, Andy TC (2015) What is the future trend of decision-making? In: 27th European Conference on Operational Research (EURO XXVII), 2015-07-12 - 2015-07-15, University of Strathclyde.

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Abstract

Many intelligent decision-making tools have been developed over the past few decades. However, the real-life application of these tools is still limited even a high degree of consistency and flexibility of these models are reported. Perhaps, from the decision-makers’ perspective, the lack of understanding about the models would be a major source of resistance. Also, the trade-off between gains and dedications associated with the model development as well as implementation would be another bottleneck. In this connection, the future trend of decision-making model development should consider the interaction of the end users and the decision environment. In addition to the transformation of the domain knowledge into decision rules, it is also vital to recognise WHY the users prefer one decision over others under a specific decision environment, and HOW they may change their preferences. With this "learning’ ability, such decision-making tool may be able to generate decisions that are not necessarily the optimum but rational from the users’ viewpoint. This would increase the user acceptance since the tools would behave more like them. Due to technological development, environmental data can be readily collected and analysed. Hence, a data-driven approach which employs artificial intelligence to uncover the connectivity between key environmental factors and users’ preferences should be adopted.

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