[How-to] Easily Create a Decision Tree Diagram with Online Whiteboard

There are 4 ways to make decision tree diagrams. All these ways will help you make an impeccable diagram for a problem solution. Here we have discussed good templates and how-to tutorials for creating the best decision tree diagram online and offline. 

Table of Contents

What Is a Decision Tree Diagram?

6 Important Elements for Making Decision Tree Diagram

4 Ways to Make Decision Tree Diagrams

• An Online Whiteboard Way
• An Excel Way
• A Word Way
• A Software Way

Sheet of Comparision - Which Method to Choose

3 Examples of Decision Tree Diagrams

A decision tree diagram is a graphical illustration of a decision-making process that displays all possible outcomes, consequences, and decision points. It is a visual tool that helps individuals and organizations make decisions by analyzing the consequences of each option and identifying the best course of action.

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Decision tree diagrams are often used in fields such as business, finance, engineering, and healthcare. The diagram's structure resembles a tree, where the trunk represents the initial decision or problem, and the branches represent the different possible outcomes. 

To create an effective decision tree diagram, the following elements are necessary:

1. Decision or problem: This is the starting point of the decision tree, which identifies the problem or decision that needs to be made.
2. Options or alternatives: These are the different possible choices or actions that can be taken to solve the problem or make the decision.
3. Chance events or uncertainties: These are the potential events or uncertainties that could affect the outcome of the decision. Each event is assigned a probability or likelihood of occurring.
4. Consequences or outcomes: These are the results or consequences of each decision or event associated with a value or payoff.
5. Branches: Branches connect each decision tree node, representing the different possible outcomes or options at each decision point.
6. Utility values represent the value or utility associated with each possible outcome or consequence. The values may be based on financial outcomes, personal preferences, or other factors.

By considering these elements and logically arranging them, a decision tree diagram can provide a comprehensive and visual representation of a decision-making process. It helps decision-makers analyze each option's potential consequences and identify the best course of action based on their goals and objectives.

Here are four ways you can make a  decision tree diagram online. These four platforms are excellent mediums for creating quick decision tree diagrams without much hassle:

#1. Online Whiteboard with Decision Tree Template

• MioCreate Introduction:

MioCreate is a powerful Free tree diagram maker that helps you make better decisions quickly and easily. It allows you to visualize complex problems and understand their underlying structure. With its intuitive drag-and-drop interface, you can create decision trees in minutes without any coding knowledge. You can also share your decision tree diagrams with others for collaboration or feedback. MioCreate is the perfect tool for anyone looking to make a smart Decision tree generator online.

• How to create a decision tree figure with templates in MioCreate?

MioCreat is a free online whiteboard for creating decision tree diagrams. Here is a step-by-step guide on how to make a decision tree diagram with templates in MioCreat:

Step 1: Visit the MioCreat website (https://www.miocreate.com) or hit the button below to register directly.

Step 2: Click "New Diagram" to create a new decision tree diagram.

Step 3: Choose a decision tree template from the available templates or select "Blank" to create your template from scratch.

Step 4: Customize your template by adding nodes and branches. You can add nodes by clicking "Add Node" and add branches by clicking "Add Branch." You can also customize your nodes' and branches' shape, color, and font.

Step 5: Add text to each node and branch to describe the decision or event. You can also add probability and utility values to each branch to quantify the likelihood and impact of each event.

Step 6: Use the drag-and-drop function to rearrange your nodes and branches.

Step 7: Save your decision tree diagram and export it as a PDF, image, or HTML file.

#2. Decision Tree Maker Excel

You can totally use Excel's out of box templates to make simple diagrams - the Hierarchy tab. Just apply one to your excel file and fill in your content. 

You can also hand-make a decision tree diagram in Excel by following these steps:

Step 1: Open a new Excel spreadsheet and create a table with the decision and possible outcomes. Label the first column "Decision," the second column "Outcome 1," and the third column "Outcome 2." You can add more columns if there are more than two possible outcomes.

Step 2: Assign values to each outcome in the table, representing the potential payoff or value associated with each outcome.

Step 3: Create a new column to calculate the expected value of each outcome, which is the product of the value of the outcome and the probability of the outcome occurring.

Step 4: Calculate the probability of each outcome occurring and add it to the table. You can estimate the probability using historical data, expert opinions, or other sources.

Step 5: Use the "IF" and "AND" functions in Excel to create conditional statements that link the decision to the possible outcomes based on the probability of each outcome.

Step 6: Create a flowchart that illustrates the decision tree diagram. You can use Excel's drawing tools to create the flowchart or use a separate drawing program and import it into Excel.

Step 8: Add labels and descriptions to the flowchart to explain the decision tree and its components.

Step 9: Test the decision tree by changing the input values and observing the impact on the outcome.

#3. Decision Tree Maker Word

You can create a basic decision tree diagram in Microsoft Word by following these steps:

Step 1: Open a new Word document and click the "Insert" tab.

Step 2: Click on the "SmartArt" button in the Illustrations group.

Step 3: In the SmartArt gallery, select the "Hierarchy" category and choose a suitable hierarchy diagram.

Step 4: Once the diagram is inserted, use the "Text pane" to add and edit the text for each level of the hierarchy. You can add text to each level by clicking the "Text" pane button in the SmartArt Design tab.

Step 5: To change the layout or style of the diagram, use the "SmartArt Design" tab to choose a different layout, color scheme, or font style.

Step 6: To add branches to the diagram, click on a shape and use the "Add Shape" button in the SmartArt Design tab to add a new shape.

Step 7: To remove or move shapes, click on the shape and use the "Delete" or "Move Up/Down" buttons in the SmartArt Design tab.

Step 8: To customize the diagram further, use the "Shape Fill," "Shape Outline," and "Shape Effects" options in the SmartArt Design tab.

Step 9: Once you have created the decision tree diagram, save the Word document, and export it as a PDF or image file if needed.

#4. Decision Tree Diagram Software

You can also create a decision tree diagram through software. You can find several software online, some of which we have mentioned here too.

Here is a comparison sheet that will help you in deciding the right platform for creating a decision tree diagram:

Here are a few examples of decision tree diagrams:

Example 1

Investment Decision Tree: 

This decision tree helps investors decide whether to invest in a particular company. It includes market trends, financial performance, and management track record. The tree branches out based on the potential outcomes of each factor.

Example 2

Medical Diagnosis Decision Tree:

This decision tree is used by healthcare professionals to diagnose medical conditions. It includes symptoms, medical history, and diagnostic test results. The tree branches out based on the likelihood of each possible diagnosis.

Example 3

Customer Service Decision Tree:

This decision tree is used by customer service representatives to address customer inquiries and complaints. It includes possible issues, solutions, and follow-up actions. The tree branches out based on the nature of the problem and the customer's needs.

Conclusion

Decision tree diagrams are a powerful tool for decision-making that can help individuals and businesses weigh their options, assess risks, and make informed choices. By breaking down complex decisions into simple, interconnected steps, decision tree diagrams can provide clarity, structure, and objectivity to the decision-making process. Whether used for investment decisions, medical diagnosis, customer service, or risk management, decision tree diagrams can help us make better decisions by identifying the key factors, outcomes, and probabilities associated with each choice. Just feel free to use the MioCreate whiteboard today and create a decision tree diagram.