Choice variables provide value modelers a simple way to create flexibility in a value model or value proposition by associating values with choice options, then using those values in a calculation.
How to Create a Choice Variable
To create a choice variable, first create a variable, then use the drop down arrow next to the variable and select "Convert to Choice". Choice variables will take on the variable type (Currency, Percent, or Count) of whatever variable is was converted from. You can toggle variable type after the choice variable has been created.
Next, add choice options using the "Add Choice" link. You can have as many choice options as you like, but make sure that each choice option has a distinct name and value. Last, select a default choice option using the Select radio button. Then click OK to close.
Once the choice variable has been created, you can edit the choice options and values by selecting the icon next to the choice drop down.
How to Use Choice Variables
Choice variables can be entered into a calculation like any other variable, except that it's value will be determined by the choice selected. In the example above, selecting Gold will make the variable take the value of 5, Silver will be 3, and Bronze will be 1.
Common use cases for choice variables are:
- On/off selectors for value drivers: a choice variable where On is 1 and Off is 0. Multiply the value driver by the choice variable.
- Quality Grades: similar to the example above, a tiered choice variable.