Chat with us, powered by LiveChat What is sensitivity analysis and how can it help your organization?Links to an external site. Exploring multiple goals balancing in complex problem s - Wridemy

What is sensitivity analysis and how can it help your organization?Links to an external site. Exploring multiple goals balancing in complex problem s

 

In terms of input data, predictions and assumptions are a distinctive part of model building. According to Delen, Sharda, and Turban (2023), “Sensitivity analysis attempts to assess the impact of a change in the input data parameters on the proposed solution (i.e., via the result variable)” (p.347). Prescriptive analysis relies on sensitivity analysis as it provides flexibility and adaptability to changing conditions. The same holds true for what-if analysis. This system allows the user to input questions associated with “what will happy if.” Inversely, goal seeking is a type of backward analysis in that the use interjects the values needed to achieve a specific intended goal. Finally, decision tables aid the user in organizing data and knowledge into a systemic platform sheet that can be tracked and analyzed to make informed decisions.

In your paper,

  • Discuss two reasons for implementing sensitivity analysis in the healthcare industry.
  • Discuss two difficulties that may arise when analyzing multiple goals.
  • Explain why a healthcare administrator might perform what-if analysis.
  • Discuss why a healthcare administrator might use goal seeking analysis.
  • Analyze the difference between decision tables and decision trees.
  • Explain how decision trees can be used in decision-making processes in a healthcare organization.

Prescriptive Analytics Determining the Impact of Change paper,

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