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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.

The courses Understanding and Visualizing Data, Implementing Scientific Decision Making, and Using Predictive Data Analysis are required to be completed prior to starting this course.

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

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in

Type
3 week
Dates
Jun 10, 2020 to Jun 30, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jul 01, 2020 to Jul 21, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jul 22, 2020 to Aug 11, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Aug 12, 2020 to Sep 01, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Sep 02, 2020 to Sep 22, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Sep 23, 2020 to Oct 13, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Oct 14, 2020 to Nov 03, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Nov 04, 2020 to Nov 24, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Nov 25, 2020 to Dec 15, 2020
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Dec 16, 2020 to Jan 05, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jan 13, 2021 to Feb 02, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Feb 03, 2021 to Feb 23, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Feb 24, 2021 to Mar 16, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Mar 17, 2021 to Apr 06, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Apr 07, 2021 to Apr 27, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Apr 28, 2021 to May 18, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
May 19, 2021 to Jun 08, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jun 09, 2021 to Jun 29, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jun 30, 2021 to Jul 20, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Jul 21, 2021 to Aug 10, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Aug 11, 2021 to Aug 31, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Sep 01, 2021 to Sep 21, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Sep 22, 2021 to Oct 12, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Oct 13, 2021 to Nov 02, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Nov 03, 2021 to Nov 23, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Nov 24, 2021 to Dec 14, 2021
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
Type
3 week
Dates
Dec 15, 2021 to Jan 04, 2022
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,380.00
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