Decision analysis (DA) is a form of decision-making that involves identifying and assessing all aspects of a decision, and taking actions based on the decision that produces the most favorable outcome. The goal of decision analysis is to ensure that decisions are made with all the relevant information and options available. For example, a corporation may use it to make million-dollar investment decisions, or an individual can use it to decide on their retirement savings.

Decision analysis (DA) is a systematic, quantitative, and visual approach to addressing and evaluating the important choices that businesses sometimes face. Ronald A. Howard, a professor of Management Science and Engineering at Stanford University, is credited with originating the term in 1964. The idea is used by large and small corporations alike when making various types of decisions, including management, operations, marketing, capital investments, or strategic choices. Decision analysis uses a variety of tools to evaluate all relevant information to aid in the decision-making process and incorporates aspects of psychology, management techniques, training, and economics. It is often used to assess decisions that are made in the context of multiple variables and that have many possible outcomes or objectives. The process can be used by individuals or groups attempting to make a decision related to risk management, capital investments, and strategic business decisions.