What is decision matrix software?
Decision matrix software is technology that is used to make justifiable decisions that are in line with organizational objectives. This is achieved by organizing good ideas, evaluating them for their value and their costs, and then weighting those values and costs to best serve the needs of the business.
Business leaders who use decision matrix software have the benefit of not only logically selecting the best ideas that will propel their business forward, they can also justify their decisions with quantitative data. This is often useful when talking to stakeholders or idea followers in explaining why they have made the decisions that they have.
What is decision matrix software by IdeaScale?
Oftentimes, with a wealth of great ideas, it is hard to know which suggestion to prioritize and assign resources to. ReviewScale is IdeaScale’s decision matrix software that allows users to identify the most valuable ideas in line with company objectives and review those top performing ideas against additional sophisticated cost and constraints analysis.
It begins by defining a set of business values to evaluate ideas against and a set of costs or constraints to evaluate, as well. The best ideas are sent through a review of those values, costs and constraints by experts. Once the experts have shared their responses, business leaders can weight the different values and costs so that the ideas that deliver the most important value with the lowest amount of cost are prioritized at the top of the decision matrix report.
Organizations that adopt ReviewScale’s decision matrix software ensure that their innovation management program generates ROI. With ReviewScale it is possible to assign resources to the most relevant innovations at every level. In order to learn more about ReviewScale, speak to an IdeaScale innovation professional today for a chance to see the decision matrix in action.