Scientists estimate that the average person makes about 35,000 decisions each day, highlighting the complexity of choices faced by business owners in ecommerce.
A decision matrix, or grid analysis, is an effective decision-making tool that simplifies complex choices by quantifying options against criteria to identify the best solution.
Using a weighted decision matrix, you can assess both the ranking of each option and the relative importance of each criterion, leading to more informed decisions.
While decision matrices come in various forms - including multi-attribute utility theory and multiple criteria decision analysis - their common goal is to improve decision-making outcomes.
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