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A decision model is a system, computer-based, automated, or manually followed that essentially predicts the outcomes of decisions. Essentially the entire process is mapped along a forecasted path that is used to control problems, find solutions, or understand a decision/situation. The decision model can potentially be used to predict what could happen in a particular situation as well, if it is set up that way. You can think of it as a if/then formula in coding essentially. A decision model is important in business because it's a process that takes place in all forms of business. Even if a business is ran poorly or off the cuff, there is still some form of decision model in place, even if it is reckless and illogical. Therefore it is imperative that a business have a solid decision matrix or model to follow. Additionally, it can help automate or streamline decision making processes and make business more efficient overall. The three types of inputs commonly used in decision models are: Data - The information placed into, derived from, and used in the decision model Uncontrollable variables - A circumstance which significantly effects business conditions (think COVID-19) Decision Variables - "A decision making variable is the quantity that the decision-maker controls." (opttek.com), You can think of decision variables to be the separate components or changes that derive the decision that is made in a model.