In an increasingly complex world, decision analysis has a major role to play helping produce insight and promote creativity to help decision-makers make better decisions. Business analytics are becoming a critical capability for enterprises of all types, for profit or non-profit, domestic or international. Solving organizational problems requires understanding of many functional areas, including marketing and sales, human resources, accounting, operations, engineering and others. In this course students will gain knowledge of theory and practical applications of decision analysis. Using cases, students will identify pertinent information, perform analysis using key tools including analytical software, and develop effective solutions supported by data. Concepts we will explore include, decision trees, probability, risk assessments, group decision-making, resource allocation and scenario planning.
Prerequisites: MGT 100, ECO 115 or PSY 224 or SOC 300.
