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Course Description

Decision making is never as simple as we would like it to be, since rarely does a single factor alone predict an outcome. In a competitive business environment, not taking this uncertainty into account has serious costs. In this course, you’ll use foundations in probability to describe risk mathematically and incorporate those calculations into your decisions so you can take them to the next level. Working through increasingly complex modeling situations, you will learn to use estimates of probable future outcomes for Go/No-Go decisions and to run a Monte Carlo simulation allowing you to examine outcomes that vary based on multiple, interdependent decisions.

You are required to have completed the following courses or have equivalent experience before taking this course:

  • Understanding and Visualizing Data
  • Implementing Scientific Decision Making
  • Using Predictive Data Analysis

Faculty Author

Chris Anderson

Benefits to the Learner

  • Calculate marginal value for a binary decision
  • Determine optimal values for a repeating, sequential decision
  • Build risk aversion into your model
  • Calculate utility for a given decision
  • Develop and use a Monte Carlo simulation
  • Perform sensitivity analysis Use expected utility to accommodate risk

Target Audience

  • Analysts
  • Functional Managers
  • Executives
  • Consultants
  • Any professional that uses data to make business decisions

Accrediting Associations

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Language of Delivery
English
Type
3 week
Dates
Aug 24, 2022 to Sep 13, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Sep 14, 2022 to Oct 04, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Oct 05, 2022 to Oct 25, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Oct 26, 2022 to Nov 15, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Nov 16, 2022 to Dec 06, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Dec 07, 2022 to Dec 27, 2022
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Dec 28, 2022 to Jan 17, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Jan 18, 2023 to Feb 07, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Mar 01, 2023 to Mar 21, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Apr 12, 2023 to May 02, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
May 24, 2023 to Jun 13, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Jul 05, 2023 to Jul 25, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Aug 16, 2023 to Sep 05, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Sep 27, 2023 to Oct 17, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Nov 08, 2023 to Nov 28, 2023
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
Language of Delivery
English
Type
3 week
Dates
Dec 20, 2023 to Jan 09, 2024
Total Number of Hours
15.0
Course Fee(s)
Standard Price $1,380.00
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