Determination of Client Profitability under Uncertainty Based on Decision Tree

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dc.contributor.authorDoubravský, Karelcs
dc.contributor.authorDoskočil, Radekcs
dc.coverage.issue1cs
dc.coverage.volume2016cs
dc.date.accessioned2022-05-18T14:54:44Z
dc.date.available2022-05-18T14:54:44Z
dc.date.issued2016-02-11cs
dc.description.abstractComplex decision making tasks of different natures, e.g. identifying of a profitability of a client in the insurance business, are based on vague, sparse, partially inconsistent and subjective knowledge of experts. One important problem related to realistic decision making tasks is uncertainty in input data / information. Decision-making under these conditions is difficult and can lead to incorrect results (decisions). The aim of this paper is to present an easy approach of how to identify profitability of the client in insurance business under the condition of input data uncertainty. The solution to the decision-making problem is based on the decision to extend or renew an insurance contract for next period (concretely two years). The solution of this problem is based on the decision-making task, which is graphically represented by a decision tree. This decision problem is solved for a fictitious client, but the required data sets are based on real data sets. The case study is represented by a tree with three lotteries, three decisions and seven terminals. The results arising from the paper serve mainly for needs of insurance companies. The main contribution of this paper is using a decision tree to provide managers with the tool to support decision-making and information about expected client profitability for the next period and its confidence interval.en
dc.formattextcs
dc.format.extent1-8cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationJournal of Eastern Europe Research in Business & Economics. 2016, vol. 2016, issue 1, p. 1-8.en
dc.identifier.doi10.5171/2016.445849cs
dc.identifier.issn2169-0367cs
dc.identifier.other122142cs
dc.identifier.urihttp://hdl.handle.net/11012/204292
dc.language.isoencs
dc.publisherIBIMA Publishingcs
dc.relation.ispartofJournal of Eastern Europe Research in Business & Economicscs
dc.relation.urihttps://ibimapublishing.com/articles/JEERBE/2016/445849/cs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/2169-0367/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectInsurance businessen
dc.subjectdecision-makingen
dc.subjectdecision treeen
dc.subjectuncertainty of information.en
dc.subjectPojišťovnictví
dc.subjectrozhodování
dc.subjectrozhodovací strom
dc.subjectnejistota.
dc.titleDetermination of Client Profitability under Uncertainty Based on Decision Treeen
dc.title.alternativeZjišťování bonity klienta za podmínky nejistoty s využitím rozhodovacího stromucs
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-122142en
sync.item.dbtypeVAVen
sync.item.insts2022.05.18 16:54:44en
sync.item.modts2022.05.18 16:14:17en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav informatikycs
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