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Decision tree software is a type of application used in data mining to simplify complex strategic challenges and evaluate the cost-effectiveness of research and business decisions. The intent is to ensure that a given set of data is accurately described, categorized and analyzed so that meaningful conclusions can be derived.
Decision tree software uses predictive models to achieve results, mapping observed values about a subject to conclusions about that subject's target value. This process utilizes tree structures to correspond to classifications and features, where leaves represent classifications and branches represent conjunctions of features that lead to those classifications.
Decision tree software is used in a wide range of industries. Risk-analysis is a common application at insurance companies, for instance, where data processing and knowledge discovery capabilities are used by actuaries to segment and understand customer behaviors. In call centers, decision tree software may be used to measure the optimal staffing levels under different incoming traffic conditions and to evaluate the ROI of investments in CRM analytics and other relevant technologies. The software allows the creation of scenarios that show all the associated costs and the impact of the chosen technology on overhead and productivity.
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