Perspective on Decision Analysis Applications, 1990–2001

Abstract

This article identifies, and provides perspective on, trends and developments in decision analysis applications, based primarily on an exhaustive survey of decision analysis applications published in the period 1990–2001 in major English-language operations research and closely related journals. It serves as a guide to those interested in recent applications in specific areas or in applications that illustrate the use of particular methods. We compare the characteristics of the applications articles surveyed here with those of applications articles appearing in a similar set of journals between 1970 and 1989 and conclude that the overall rate of publication of decision analysis applications has increased. In addition, we find that both the mix of application areas and the specific aspects of decision analysis that are emphasized in applications publications have shifted somewhat. We also identify and discuss noteworthy trends in, and developments affecting, published applications, including those in computer software and software-related tools, decision conferencing, stochastic trees, value-focused thinking, normative systems, organizational processes, and real options. We highlight several award-winning decision analysis applications and discuss formation of a new practitioner-oriented professional group. Finally, we present some concerns and thoughts on future needs for advancing decision analysis practice.