Closely related to decision trees and often
used in conjunction, Influence Diagrams are a summary of information contained
in a decision tree.
They involve 4 variable types for notation: a decision (a
rectangle), chance (an oval), objective (a hexagon), and function (a rounded
rectangle).
Influence diagrams also use solid lines to denote influence. Their
appearance is much like that of a flowchart.
Influence Diagrams show the dependences
between variables. This is an important distinction between Influence Diagrams
and decision trees. Decisions trees offer much more detail about each possible
decision.
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If a decision tree is very complex and
needs to either be explained to someone or presented, an Influence Diagram is
very helpful.
Best Practices:
Start your tree: Draw a rectangle near the
top-left corner of the page; this will be the first node. In this rectangle
write the first question or a criterion that leads to a decision.
Add to the process: Referencing the
decision tree, add more boxes to the page as needed, labeling each. A series of
decisions, functions, and chances should lead to an objective.
Add connectors: Draw lines between all
related boxes with arrowheads indicating the flow of influence. Each box should
be connected to at least one line.
Verify accuracy: Consult with all
stakeholders to verify accuracy.
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