Decision and Risk Analytics.

Catalog description

Semester course; 3 lecture hours (delivered online, face-to-face or hybrid). 3 credits. Prerequisite: BIOS 543 , SCMA 301 , SCMA 524 or STAT 543 . Decision analytics uses diagrams and models to structure complex decisions, decomposing the alternatives, uncertainties and objectives to reveal the best strategy. The course will focus on gaining an understanding of decision analysis tools and software and facilitating decision-makers and stakeholders in building decision models. The probabilistic and statistical underpinnings of good decision-making and the psychology of bad decision-making will be covered. Students will develop solutions for case studies and complete a decision project.