Introduction to Decision Analysis

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This hands-on Introduction to Decision Analysis gives you the tools required to make better, more informed and justifiable decisions. The focus is on thinking creatively about issues and then applying structured, formal analysis to spur action. A range of tools are considered, providing a comprehensive toolkit for those willing to enhanced the effectiveness of their organizational, or personal, decision-making.

The focus of this course is on lightweight, rapid, “agile” modelling—cycling rapidly between problem, definition, analysis, conclusions and actions. Emphasis is placed on structuring of assumptions, as opposed to mathematical modelling.

The course does not provide a “deep dive” into the techniques presented. It is intended to give you an overview of the field and act as a foundation for deeper study of the techniques that are most appropriate to your current and/or future decision-making needs.

Participants should be familiar with Microsoft Excel and be able to understand basic mathematical concepts (high-school level).

Anyone who is involved in decision-making! Including those who are looking to make important personal decisions, or those who support decision-makers.

Executives (decision-makers), project managers, strategy analysts, business analysts are data scientists are all formal job roles that would obviously benefit from the course, but everyone is involved in making decisions at some level. Participants should be familiar with Microsoft Excel.

Introduction to Decision Analysis Delivery Methods
After-course instructor coaching benefit
After-course computing sandbox included
4thdacad end-of-course exam included
Introduction to Decision Analysis Course Benefits
Structure your decision analysis projectsUnderstand and interpret uncertaintyRecognize and mitigate psychological biasesUncover cause and effect relationshipsEvaluate alternatives using multi-criteria decision analysisPeer into the future using forecastingApply game theory to develop strategy in the face of competitionExplore complex issues using network analysis and simulationLeverage the benefits, and avoid the pitfalls, of teams in the decision-making process
Introduction to Decision Analysis Course Outline
Introduction to decision analysis
What makes a good decision?
History of decision analysis
Problem solving
Creative thinking
Data science vs decision analysis
Bulletproof Problem Solving
OODA loop
Conducting research
Uncertainty
Statistical modelling and inference
Evaluating options
Forecasting
Interactive decision-making
Systems thinking
Group decision making

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