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Information visualisation for decision support under risk

Information visualisation for decision support under risk Most, if not all, decisions are based on information that is susceptible to uncertainty arising from different sources. Consequently, decision-making involves an element of risk. An effective visualisation tool to support decision-making must enable decision makers to not only access decision-relevant information, but also explore and analyse the risk involved in their decisions. In this paper, we analyse a number of main requirements that need to be taken into account when designing information visualisation tools for decision support under risk. Based on these requirements, we design an information visualisation tool called RiDeViz. The main intention of RiDeViz is to facilitate the incorporation of risk into decision-making and allow decision makers to explore multiple 'what-if' scenarios. We demonstrate the utility of RiDeViz through an application example of a financial decision-making scenario. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Information and Decision Sciences Inderscience Publishers

Information visualisation for decision support under risk

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1756-7017
eISSN
1756-7025
DOI
10.1504/IJIDS.2017.086786
Publisher site
See Article on Publisher Site

Abstract

Most, if not all, decisions are based on information that is susceptible to uncertainty arising from different sources. Consequently, decision-making involves an element of risk. An effective visualisation tool to support decision-making must enable decision makers to not only access decision-relevant information, but also explore and analyse the risk involved in their decisions. In this paper, we analyse a number of main requirements that need to be taken into account when designing information visualisation tools for decision support under risk. Based on these requirements, we design an information visualisation tool called RiDeViz. The main intention of RiDeViz is to facilitate the incorporation of risk into decision-making and allow decision makers to explore multiple 'what-if' scenarios. We demonstrate the utility of RiDeViz through an application example of a financial decision-making scenario.

Journal

International Journal of Information and Decision SciencesInderscience Publishers

Published: Jan 1, 2017

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