Which of the following best describes a 'decision matrix'?

A decision matrix is a systematic method used to evaluate and prioritize different options based on defined criteria. This approach allows individuals and teams to make informed decisions by weighing the importance of various factors and comparing alternatives objectively. In this method, each option is assessed against the criteria, often using a numerical score, which helps identify which choice aligns best with the overall goals or requirements.

This technique is particularly useful in scenarios where the decision involves multiple variables and potential outcomes, aiding in reducing bias and ensuring a comprehensive review of all possibilities. By laying out options and criteria in a matrix format, users can quickly visualize the advantages and disadvantages of each alternative, leading to more effective decision-making.

The other options presented do not accurately capture the essence of a decision matrix. Financial forecasting, market trend analysis, and stakeholder engagement frameworks serve different purposes, focusing on specific aspects of business analysis rather than the evaluation and prioritization of options against set criteria.