Policy Iteration

Policy Iteration is a method used in decision-making processes for finding the best strategy in a situation modeled as a Markov Decision Process. It involves two main steps repeated iteratively: first, evaluating the current strategy to determine the expected outcomes; second, improving the strategy by choosing actions that lead to better outcomes based on the evaluation. This cycle continues until the strategy can't be improved further, resulting in an optimal policy that maximizes rewards or minimizes costs over time. It's like refining a plan step-by-step until it’s the best possible approach.