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What Is a Decision Matrix and How Can This Tool

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What is a decision matrix and how can this tool be useful in effective decision making?


Definitions:

Time Utility

The value added to products or services by making them available at a convenient time for consumers.

Nonstore Retailing

Retail operations that sell products to consumers through channels other than traditional brick-and-mortar stores, such as online shopping, catalog mail order, and direct selling.

Vending Machines

Automated machines that sell items such as snacks, beverages, and tickets to consumers after money, a credit card, or a specially designed card is inserted into the machine.

Free Association

A psychoanalytic technique in which a patient voices thoughts as they occur, without critical filtering, to uncover unconscious processes.

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