Decision Aid

A manager has to make a set of decisions in his everyday life. This is the essence of the work of a manager. Generally, the manager will rely on intuition or experience to make decisions. In other cases, because of the complexity of the impact of his choices or because of a legal obligation, the manager will use different decision-support tools to guide him in his choices.

Among the most used tools, there is the weighting grid, where there are several criteria to evaluate, for which each of these criteria is weighted. The weighted average of these notes finally gives us a score allowing us to classify the different options. Unfortunately, the winner of this evaluation does not often match the one that the manager would have chosen using his intuition.

Although this method is widely used, it includes several mathematical biases which, when they are not well understood, could lead to erroneous solutions.

Another tool often used by the manager is the forecast. Many are trying to make forecasts of the future based on their understanding of the market, or based on history. Many are able to make forecasts, but few are able to give their predictions accuracy. The error associated with estimates allows the manager to assess the reliability of the results to which it relies for its decisions. A typical prediction method is the moving average. For example, in a simple situation where there are no seasons and no growth, the manager who would use the moving average to predict its stocks from the passed sales will be out of stock in 50% of the time.

MELIORE has a portfolio of rigorous tools to 'digest' the available data and propose to the manager quantitative information to select the most relevant options. These tools include weighting of criteria, multi-criteria comparison, forecasting, evaluation of qualitative problems and decision tools when everything appears fuzzy. The tools MELIORE works with can process very large numbers of data in a rigorous and rapid manner.

Our decision aids services can help you:

  • Select the right supplier
  • Choose from various investment projects
  • Understand the realities of your business and the impacts of your choices
  • Make choices aligned with your values
  • Rigorously validate your decisions
  • Delegate the decision-makings to the operational hierarchical ranks
  • Analyze different projects in a structured and sound manner
  • Obtain results more in line with your intuition

Measurable benefits

Agile companies must be able to make the right decisions quickly. With turnkey decision aids tools, managers will be able to:

  • Accelerate the pace at which decisions are made
  • Reduce the cost of their decisions
  • Improve the competitiveness of project portfolios
  • Reduce uncertainties following the choice of selected projects

Examples of application in different sectors of activity

  1. Public Sector
    • Construction of analysis grid for public tenders with qualitative criteria
    • Review and evaluation of the tender process
    • Selection of investment projects in order to have a better use of public funds to generate a better return to the citizen.
  2. Environmental
    • Strategies to answer to public tenders taking advantage of errors in the structure of the tender, or to beat your competitors.
  3. Manufacturer
    • Select the improvement projects that will bring the greatest benefits.
    • Develop a price list to increase the net income
    • Analysis of the job cost
    • Forecasting in a budget process
  1. Transport & Logistics
    • Pricing strategy
    • Analysis of job cost
  2. Finance
    • Selection of a portfolio of several mutual funds in order to maximize performance and reduce the standard deviation
    • Risk analysis
  3. Human resources managements
    • Develop an evaluation grid for the employees
    • Study of the impacts of a change in the salary during a collective agreement negotiation
    • Develop a grid of assessments of candidates