MMGMT 715 / Decision-Making Under Uncertainty

3 unit(s)

Prerequisite(s): Enrollment in the Master of Management in Applied AI and Data-Driven Decision-Making

This course will introduce the participants to the fundamental concepts of Decision making using Microsoft Excel and Analytic Solver Platform and discuss the practical approaches to solving business cases using simulation and decision modeling. The course will take a practical (less of math and more of logic and intuition) approach and cover topics like Monte-Carlo simulation, decision analysis using decision trees and multi-criteria decision analysis. The course will help build intuition, structure the problem, solve, analyze and evaluate decisions from a cross-functional business perspective. The students will learn when to use a specific approach and understand the implementation using a hands-on problem-solving approach. The students of this course will benefit from having a prior knowledge of basic excel formulae.