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Course Description

As you begin to frame your decisions, it's important to organize the problem in a manner that allows for the proper examination of solutions and their varying impacts. At this point, you can begin to incorporate the use of decision trees to meet that goal. What are the various kinds of decisions you can make? How is the impact of each decision path weighted and differently valued? Constructing decision trees will provide you with some answers to these questions.

In this course, you will explore the aspects of decision trees and when to best incorporate them into your decision analysis. You will map how performance measures may influence different sequences and outcomes. You will calculate risk profiles, develop modeling measures, and decide on the proper usage of decision trees in discrete choice situations.

While decision trees are commonly and widely used, they won't always be the right approach; you will explore in detail why that is and when it can make the most sense in given situations.

Faculty Author

Dr. Patrick M. Reed

Benefits to the Learner

  • Decide when to use a decision tree and how to develop decision strategies that maximize performance across alternative action pathways
  • Explicitly map how performance measures are influenced by different candidate sequences of decisions and their uncertain outcomes
  • Calculate risk profiles that clearly show how different decision strategies are influenced by uncertain outcomes
  • Explore the importance of carefully eliciting and modeling measures that shape decision-maker preferences
  • Evaluate the appropriateness of using decision trees for a discrete choice situation, given the strengths, limitations, and the information needed

Target Audience

  • Engineers in any field, including mechanical, electrical, civil, and environmental
  • Aspiring data scientists, data analysts, and market analysts
  • Anyone who needs to make highly consequential decisions or inform solutions in the face of uncertainty or multiple and conflicting objectives

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Jul 03, 2024 to Jul 16, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Sep 25, 2024 to Oct 08, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Dec 18, 2024 to Dec 31, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
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