Top Tools / October 15, 2021
StartupStash Team

The world's biggest online directory of resources and tools for startups and the most upvoted product on ProductHunt History.

Top 15 Decision Making Tools for Businesses

The decision making tools assist you in mapping out all of the viable options for your decision, as well as their costs and likelihood of success or failure.

Many firms delegate decision-making to managers and executives, leaving individual contributors to focus on their daily tasks. However, more than 80 percent of firms believe that empowering front-line staff to make decisions and providing them with the information they need to improve their decision-making improves their performance.

Hence, Decision-making tools along with business management software should be considered by businesses wanting to improve their decision-making at all levels.

In this top tools list, we have compiled the top 15 decision-making tools along with their features and Pricing.


1. Finstanon

Finstanon is a financial analysis solution. It aids in the interpretation of profit ratios, liquid ratios, debt ratios, and other financial ratios. You can use this tool to analyze over 15 different sorts of metrics. Finstanon produces data in the form of tables and graphics. It saves time for both pros and newbies in financial analysis. It does precise calculations.

Key Features:

  • It is possible to assess the balance sheet and income statement.

  • It is possible to assess the balance sheet and income statement.

  • Complete report in.doc format on your company's performance and Complete report in.doc format on your company's performance and status.

  • Accurate calculations and wise factual conclusions.

  • Over 15 distinct forms of analysis are used.

Cost:

Packages start at $155 per year.


2. ProductBoard

ProductBoard is the first-ever product management platform that is highly focussed on customers, assisting teams in bringing the appropriate products to market more quickly. Productboard is used by over 4000 product-driven firms, including Microsoft, Zendesk, and UiPath, to understand what users need, prioritize what to build next, and rally everyone around the roadmap. It enables product managers in determining the customers’ requirements, prioritizing what to produce next, and making sure everyone follows the roadmap.

Key Features:

  • By bringing all sources of feedback together in one location, you can better understand your clients.

  • Use data to help you prioritize what's most important to your customers and your company.

  • Easily collect client feedback in one location and use it to make informed product decisions.

  • With just a few clicks, everyone in your organization can be aligned with roadmaps that are readily modified for any audience.

Cost:

Packages start at $20 per month.


3. Checkbox

Checkbox is a no-code platform that assists organizations in creating decision trees in order to streamline operations and make better judgments. Because the smart forms are simple to create and don't require developer input, they may be used by a wider range of departments. The dashboards can be customized and provide real-time information about services and processes. Companies can also quickly distribute their apps and decision trees via a password-protected URL link.

Key Features:

  • Using smart forms, collect the information you need from users or systems and do triage.

  • Data from dynamic systems of record that interact with your Checkbox Apps can be recorded, retrieved, and updated.

  • Using our simple drag-and-drop interface, you can prototype, build, and maintain applications without any IT knowledge.

  • Create ready-to-use documents with e-signature that are pre-filled and tailored from stylish templates.

  • End-to-end user journeys, including approvals, scheduled tasks, and reminders, can be automated.

  • Create complicated rules and decision-tree logic, including weighted scores and calculations.

Cost:

You can request a quote on their website.


4. Good Calculators

Good Calculators offers a calculator that will help you make smarter business decisions and figure out where you'll break even. Simply enter fixed and variable costs, as well as the selling price per unit, to use this tool. With just a single mouse click, you can calculate it.

A break-even study can help you figure out when a new business product will break even. It's a financial formula that determines how many products or services you'll need to sell to cover your expenses.

Key Features:

  • You can use this calculator to figure out how many units you'll need to break even.

  • Break-even analysis is made simple and quick with their online tool.

  • Simply enter your fixed and variable costs, as well as the selling price per unit and the projected number of units sold. Then, to see the results, click the "Calculate" button.

Cost:

This is a free tool.


5. AirFocus

AirFocus is a product management platform that is both modern and adaptable. It gives product teams a complete solution for managing and communicating their product strategy, prioritizing their work, creating roadmaps, and connecting feedback to tackle the right challenges.

Airfocus was built with flexibility in mind, allowing you to swiftly adjust the platform to meet your needs without disturbing your team's workflow. Join the hundreds of product teams across the world who use airfocus to make better decisions and create better products. Visit airfocus.com to learn more and sign up for a free 14-day trial.

Key Features:

  • With ease, create dynamic and strategic lean roadmaps. Focus on the big picture with team goals that will help you address the right problems.

  • Transform decision-making into a transparent, collaborative process by establishing clear priorities that are tied to your goals and objectives.

  • Create and apply your preferred prioritization method with simple, no-nonsense data inputs.

  • To uncover useful insights, combine feedback from numerous sources and teams. Reduce background noise and categorise inputs as they arrive.

  • Connect your favourite tools to save time and keep everyone in the loop. Jira, Trello, Clubhouse, Azure DevOps, Asana, Zapier, and others are among the tools available.

Cost:

Packages start at $15 per editor per month.


6. Loomio

Loomio provides a centralized area for decision-makers in an organization to evaluate their data, retain essential information, and collaborate on crucial business decisions. Threads keep all of the information about a decision in one location, allowing teams to discuss it without worrying about losing their notes.

Proposals can also assist decision-makers in obtaining the necessary authorization to proceed. They can make notes on the decision and set a deadline, and the system will notify anyone who needs to weigh in automatically.

Key Features:

  • Create a thread, choose a topic, have a discussion, and arrive to a conclusion.

  • In your threads, you can share actions, outcomes, minutes, and documents.

  • Organize, search, and locate the information, discussions, and decisions you require with ease.

  • Slack, Microsoft Teams, and Zoom can all be utilized with Loomio.

  • Personalize your privacy and access permissions to meet the demands of your team. Loomio complies with the General Data Protection Regulation (GDPR).

Cost:

Packages start at $199 per year.


7. Cascade Strategy

Cascade Strategy is a decision-making tool that lets you design a strategy map using a drag-and-drop interface. This tool works with a variety of frameworks. It is one of the best tools for making business decisions because it allows you to convert maps to PDF.

A strategy map is a visual representation of a company's strategic objectives. This map is made during the company planning phase. It is the primary source of information for check-in and review meetings.

Key Features:

  • Cascade provides alignment and trackable results to help you grow, whether you have one plan or several goals across teams.

  • Use our pre-built setup or get creative with custom fields and templates to create the ideal blueprint for your plan.

  • Add users, assign goals, and collaborate on real-time changes, audit logs, and other features. As needed, make alternative plans for different teams.

  • Get visual representations of your strategic plan that are automatically generated and that you may categorize, sort, and color as needed.

Cost:

Packages start at $59 per month.


8. FlowForma

FlowForma is reinventing the traditional Business Process Management field with an innovative approach to producing award-winning process automation and workflow technologies. They're known for disrupting this space because: - their tools are trusted by IT, but they give business experts the power; - their tools are the only 100% no-code process automation tools on the market; - they're the only provider that connects workflow with decision making and collaborative work management.

Key Features:

  • With a Visual Flow Designer option, the interface is simple to use.

  • Forms, workflow, and document generation are all integrated.

  • Encourages process and data ownership.

  • The FlowForma BPM mobile app and the desktop version are both available.

  • Perfect for prototyping and verifying that the manufacturing process is done correctly the first time.

  • Facilitates the evolution of the process.

  • Convert legacy InfoPath systems faster with this InfoPath conversion tool.

Cost:

You can request a quote on their website.


9. Eidos

Eidos, by Parmenides, lets firms make better decisions faster right out of the box With eight pre-configured strategic processes. It also compares up to 450 data points in a single graphic to assist businesses in making the best decision for them. Businesses can utilise the strategizing model to create templates of typical decision trees so that they can simply set them up for future use. It also looks at various eventualities that could develop depending on the company's decision.

Key Features:

  • There are five different strategic models to choose from.

  • There are eight strategic processes that have been pre-configured.

  • There are 33 management tools and strategies that are often used.

  • In one persuasive picture, 450 individual data points are combined.

Cost:

You can request a quote on their website.


10. Smart Draw

Smart Draw is a decision-making tool that includes force field analysis templates. This graphical tool can be used to make decisions. This sketching tool adjusts things in the drawing area automatically. It is one of the best decision-making analytical tools, allowing you to import or export a force field analysis diagram from Visio.

You can use Force Field Analysis to assess your project. It gives a framework for examining the variables that influence a given situation. This analysis aids in a better understanding of any organization's processes.

Key Features:

  • SmartDraw's clever formatting engine makes it simple to create and edit diagrams.

  • For a professional look, automatic spacing, alignment, size, and colour schemes are used.

  • Works with Microsoft Office®, Google Apps, Jira, AWS, and other applications.

  • For approximately 70 distinct diagram kinds, there are thousands of templates and symbols.

  • With conventional engineering scales, you can sketch like a CAD.

  • Work together with your team: effortlessly share ideas, graphics, and feedback.

Cost:

Packages start at $5.95 per month.


11. WinQSB

WinQSB is a decision-making platform for Windows operating systems that is open source. It approaches issues as if they were mathematical problems, outlining the advantages and disadvantages of each option. The system's modules make it highly configurable, allowing businesses to solve their own unique set of problems.

Businesses may use customization to discover what kind of decisions they make most frequently and set up decision trees to assist them to make decisions faster in the future.

Key Features:

  • Depending on the type of decision you will make, the program is separated into distinct sections.

  • Capability to tackle linear, analytical, and Markov pattern problems.

  • The user interface is simple and easy to use.

  • Small and medium-sized businesses will benefit from this.

Cost:

This is a free tool.


12. Uptrader

Uptrader is a decision-making tool that helps you make better, less biassed judgments in everyday business situations including recruiting, investing, and supply chain management. You can lessen your error and loss, as well as your business profits, by doing so.

Key Features:

  • Your recruiters may still be faced with a difficult & complex decision regarding who to hire after your company has weeded out job candidates based on early screenings, with nothing to help their decision-making save their gut about a candidate. Uptrader overcomes this problem by leading recruiters through a tried-and-true hiring procedure.

  • Choose a supply chain partner with goals that align with your SCM strategy.

  • Uptrader creates reports that show managers how and why a critical business decision was taken.

  • The organized architecture in Uptrader's demand management module assists businesses in avoiding loss and inaccuracy.

Cost:

You can request a quote on their website.


13. Power Noodle

Power Noodle enables the management in making better decisions by efficiently engaging the collective expertise of stakeholders. Powernoodle is the most powerful Decision Engagement Platform that is also the easiest to use. To focus on stakeholders and eliminate the biases, hurdles, and dysfunctions that get in the way of making great decisions, cloud technology is combined with 50 years of cognitive, behavioural, and decision research.

Leaders can build structured decision activities that optimise stakeholder participation and generate the alignment needed to execute confidently and outperform with Powernoodle.

Key Features:

  • Through complete and transparent decision-making, create an inclusive culture in which your staff feels connected to the purpose, vision, and values.

  • Identify critical areas for growth by bringing together your whole organization's brain trust, providing your strategic leadership team with insight into your entire team's expertise of the business.

  • With our science-based decision platform, you can run defensible and auditable decision processes in the public sector and not-for-profit organizations.

  • Reduce the unknown unknowns in your plan by using robust decision-making processes to cast a wide net for internal information.

Cost:

Packages start at $325 per month.


14. Yonyx

Yonyx provides Interactive decision trees for all sorts of self-service portals. Scripts can even be A/B tested to see which ones are the most effective. Customers can use troubleshooting decision trees to fix problems on their own, only contacting an agent if they come into anything they don't understand or something that isn't covered by the decision tree. CRM interfaces can also make customer interactions easier by retrieving information about previous purchases of items or services.

Key Features:

  • Your technical support team or customers can use interactive troubleshooting tutorials for self-service.

  • Inside sales and telemarketing businesses frequently employ call scripts that are connected with CRM.

  • Keeping your current clients is often less expensive than finding new ones.

  • You may construct a multiple choice quiz for your customer support staff and customers by assigning a score to each user response.

  • You can authenticate self-service users and take necessary steps, such as remotely resetting a modem or displaying account information, by implementing custom commands.

Cost:

Packages start at $20 per month.


15. Zing Tree

Zing Tree provides internal decision-making capabilities as well as agent scripting for sales and support calls. A self-service knowledge base is included in the internal feature set, where subject matter experts can design a decision tree that employees can easily follow to locate the information they require.

The scripting features assist your sales force in qualifying leads while on the phone and rapidly finding pertinent product information. It also helps your agents stay on track by ensuring compliance.

Key Features:

  • Zingtree connects to a wide range of CRMs, call center software, and data sources, allowing your team to see everything on one screen.

  • For outgoing and inbound contact centers alike, use dynamic call center scripts to assure call compliance, reduce agent training times, and provide superior customer experience.

  • Create a standard operating procedure or an interactive knowledge base so that your personnel may rapidly discover information while adhering to the regulations.

Cost:

Packages start at $25 per month.


Things to Consider When Choosing a Decision Making Tool

An ideal tool is one that is interactive, intuitive, and transforms complex language into more understandable words for the end-user. The main goal is to shorten the enrollment process and streamline it for all parties involved, while also delivering instruction along the route. And, rather than separating education and benefits administration between two different software tools: a learning management system and your HR software, these platforms bring it all together in one.

When it comes to decision assistance tools, there are numerous solutions available, each with varying degrees of functionality. The following are the top three things to look out for:

Comparison of Plans

A useful tool that gives your team a line-by-line breakdown of what each plan covers and the cost variances.

Estimations of Cost

Provide your people with an anticipated cost of plan coverage before they make a decision. This greatly aids your employees' understanding of the deductions made from their paycheck, minimizing the number of discrepancies and inquiries sent to your payroll department.

Powerful Integration

A seamless link with your benefits carrier feeds ensures that any necessary adjustments are delivered swiftly and properly to insurance providers.


Conclusion

Decision-making tools are strong, and they may provide your employees with the information they need to make the best decisions while also lowering the number of monotonous activities your HR staff is obliged to complete. Empowering your employees and their dependents with best-in-class tools to make wise health and financial decisions demonstrates that you care about them and their families.


FAQs

What Are Decision-Making Tools?

Decision-making tools are powerful, and they may provide your employees the knowledge they need to make the best decisions while also reducing the number of tedious tasks your HR team must accomplish. Providing best-in-class tools to your employees and their dependents so they can make informed health and financial decisions communicate that you care about them and their families.

When Should You Consider Using Decision-Making Tools?

Investing in cutting-edge technology that assists your employees through the benefits selection process relieves not only your employees but also your HR department of stress. These tools relieve your HR department of the burden of answering daily inquiries and clarifying the numerous distinctions among plan alternatives. This time saved can now be used to deliberately create enticing benefits packages and explore methods for maximizing resources.

What Are the Features of Decision-Making Tools?

Scenario analysis, cost-benefit analysis, consensus monitoring, and previous decision tracking are all common components of decision-making software. Any team can benefit from decision-making software, but it's especially useful in physical group situations or for remote teams coordinating from different locations.

Specific elements of decision-making software, such as consensus tracking, can be found in meeting management and board management software. Dedicated decision-making tools, on the other hand, include elements that aid in both the decision-making process and the dissemination of outcomes to stakeholders. Furthermore, unlike board management software, decision-making services are not expressly tailored to C-suite executives or board members.

What Are the Steps Involved in Decision-Making?

Following are the steps involved in decision making:

  • Understand where you are required to make a decision.

  • Collect the necessary and relevant data;

  • Determine the alternatives

  • Evaluate the evidence

  • Select an option from the list.

  • Take action;

  • Evaluate your decision and its implications.

What Are the Limitations of Decision-Making Tools?

A decision support system is mostly based on measurable data. As a result, analyzing ethereal or indefinable data is challenging. In actuality, some values are not easily quantifiable or quantifiable. Even if a DSS can quantify some of these factors, the overall outcome must be taken into account by decision-makers. When it comes to making the final decision, they must rely on their own judgment.

Decision-making tools often make assumptions which you may not be aware of. Making decisions without taking into account uncontrollable factors might be dangerous. A decision-maker must understand that a computerized DSS is merely an aid. You must study the constraints and assumptions of an unstructured or partially structured scenario in detail.

Failure of System Design: Decision support systems are tailored to the demands of the decision-maker. It will be impossible to develop a system that meets your needs if you don't know what you want a DSS to do or how it should assist you. And when you use a broad DSS, the results you get aren't always what you want. Such circumstances may develop as a result of a system design flaw.

Top 15 Decision Making Tools...
StartupStash Team

The world's biggest online directory of resources and tools for startups and the most upvoted product on ProductHunt History.