As an analysis tool, a decision matrix allows you to evaluate multiple options (providers, vendors, etc.) according to several criteria by rating each criteria across all your options. Calculating the totals for each option will give you an objective answer to the best available choice.
A decision matrix in its simplest form is often used by business analysts and management in the evaluation of products, service providers, suppliers, and internal business processes.
Their simplicity allows you to assign a rating/score (usually 1-10) to each criteria you're evaluating for your options, score the results, and quickly find the best option.
A weighted decision matrix goes a step further. It allows you to assign a weight (ie. importance) to each criteria to better reflect your business requirements.
It's an incredibly powerful analysis tool usually adopted by business analysts and management across many industries, which you can now easily leverage as well.
As in the simple matrix, you are able to compare (and sort) all your options, with the addition of being able to factor in your business requirements and relationships between criteria as part of the scoring process.
It's ideal for evaluating anything from product features during development, to vendors and suppliers, business services, and even organizational internal processes.
We've made a powerful business tool even better. You can now also use the same process for provider discovery and evaluation!
Find and evaluate the best providers matching your requirements. Companies with ratings on Bridge have customer ratings on 10 cross-industry business criteria. You can also request providers not on our site yet to add their company (it's free) so you can properly evaluate them.
A new provider's ratings will be available to all users, growing the list of companies you can search and evaluate with your matrix. It also allows the provider to be discovered and referred to new customers.
The scorecard is a visual representation of the results of your decision matrix, sorting companies by best score. Our scorecards also let you preview each company and all their 10 criteria ratings, contact them directly, or visit their website for more information.
Scorecards also include the rating method and weights you used, and can be shared with co-workers and management.
Hiring foreign providers?
Providers with a Certified Provider status offer you included risk management services from Bridge and a backstop when sourcing from foreign providers. The included services allow for better provider communication, oversight, and a backstop for non-performing providers.