A decision matrix is a technique for evaluating multiple options against key criteria to identify the best solution. It involves listing options, criteria, scoring each option against each criteria, and calculating a total score. This example shows how a company called Fanta used a decision matrix to determine the best Facebook product for promoting a new product and voucher downloads. They listed Facebook Page, Group, Event, and Application as options and criteria like including a voucher and visibility. They scored each option on each criteria, applied weights to criteria, calculated totals, and identified the Application as the highest scoring option. Decision matrices help document decisions, manage scope, and facilitate consensus across stakeholders.