What are Decision Trees? How Do They Influence Business Decisions?
Businesses have to deal with a range of uncertainties. However, they should still make the right decisions to maintain profitability. However, that may become a challenge if there is no formal structure or process to make informed decisions. As a result, businesses rely on different methods and models to drive effective decisions. In this regard, decision trees can be a suitable tool for making classifications and predictions. In this blog, we will discuss decision trees in detail and explore their pros and cons. You will also learn how the method is used to make meaningful decisions. What is a Decision Tree? A decision tree is a tree structure based on the flowchart. It follows a sequential order to help businesses predict future possibilities. In a decision tree, an internal node represents a test for an attribute. Additionally, every branch on the tree denotes a possible result of the test. Moreover, every terminal nod...