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Decision Modeling in Business Analytics

$3,800.00
Decision Modeling in Business Analytics

Location

NYU Stern School of Business
44 West 4th Street
New York, NY 10012

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Decision Modeling in Business Analytics

$3,800.00

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Overview

In order to take full advantage of their firms' data analytics, executives must know how to transform data insights into optimal, executable actions that are evaluated by their impact on key performance metrics, leading to better decision making.

This course teaches participants to harness the full potential of large quantities of data to make more informed decisions at all levels of their organizations. Participants will learn modern decision models and tools. Through application of these tools, they will examine data, recommend a range of actions and evaluate each action’s impact on targeted performance metrics. This course emphasizes application of decision models in finance, marketing and operations functions across industries, including healthcare, financial services, logistics, online retail and more.

 

Certificates and Credits

Upon completion of this course, participants will receive a Certificate of Achievement. This program is also eligible for Continuing Professional Education (CPE) credits through NASBA.

Program Takeaways

During this course, participants will:

  • Models

    Learn about key decision models in analytics, and their applications in a wide range of industries
  • Experience

    Gain hands-on experience working with data and transforming it into actionable decisions
  • Value

    Identify opportunities where decision models can be applied to derive value

Who Should Attend

Although there are no formal education or background requirements, this course is designed for executives who meet the criteria below. While we strongly encourage global participation, please note that all courses are taught in English. Proficiency in written and spoken English is required.

  • Years of Experience

    Designed for professionals with 5+ years of work experience
  • Job Functions

    Ideal for executives who head analytically oriented functions within their organization
  • Prerequisites

    Intended for individuals who are interested in analytics and data-driven decision making, and who already have working knowledge of analytics

Agenda

The following agenda is a sample and subject to change.

8:30 am - 9:00 am: Breakfast
Session 1: Optimization Modeling
  • What is prescriptive analytics?
  • How is prescriptive analytics related to and different from predictive analytics?
  • Formulating a business decision problem: decision choices, target outcome and constraints
12:30 pm - 1:30 pm: Lunch
Session 2: Optimization Modeling (cont.)
  • Big data and optimization modeling
  • Hands-on exercises: building and solving optimization models
  • Best practice and success stories 
5:00 pm - 6:00 pm: Networking Reception

8:30 am - 9:00 am: Breakfast
Session 3: Decision-Making Under Risk
  • Challenges in decision making under risk
  • Meaningful definition of risk
  • Performance evaluation under risk: Monte Carlo simulation
12:30 pm - 1:30 pm: Lunch
Session 4: Decision-Making Under Risk (cont.)
  • Big data and risk modeling
  • Optimization modeling under risk: combining optimization and simulation
  • Best practices and success stories
  • The future of big-data-based decision making
5:00 pm - 5:30 pm: Program Conclusion and Evaluations