Business Analytics, Decision Making and Risk Analysis
4.96 (23 Ratings)
Business Analytics, Decision Making and Risk Analysis
About Course
MLT 616
What I will learn?
- Develop strategies and mental frameworks that deal effectively with uncertainty
- Eliminate the dangers that can reduce our decision making
- Reason with clarity and insight about the decisions you face
Course Curriculum
Welcome to the Course!
Hello and welcome to decision making and risk analysis. In this course, we will watch a series of videos to better understand how and why we make decisions. We focus a lot on the decision-making process itself, why we make bad decisions, how to make better decisions and influencers of decisions. We also focus on how risk management and analysis techniques assist with making better-informed decisions.
The premise of this course is to gain experience through the videos, perform additional research to add to the weekly content to answer questions and to answer a final quiz at the end of the course.
Grading Rubric
Grading Rubric
All assignments are 10 points- 150 points total
The final exam is worth 50 points
200 points total in the course.
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Points in course
Week 1 Resources: The art of decision making
Watch: How to Make a Decision. (2017), Retrieved from: https://www.youtube.com/watch?v=okdsAZUTJ94
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Week 1 Resources
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Week 1 Assignment
Week 2 Resources: How do people make decisions?
Watch: How we people make decisions. (2017). Retrieved from: https://www.youtube.com/watch?v=9CZQix5WGJc
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Week 2 Resources
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Week 2 Assignment
Week 3 Resources: Are there specific steps to the decision-making process?
Watch:
What are the 7 Steps of Decision Making? (2018). Retrieved from: https://www.youtube.com/watch?v=5a0Fe3AchAI
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Week 3 Resources
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Quiz – Introduction to Decision Making
Week 4 Resources: How do we make decisions – are we free to choose?
Watch:
Making Sense of How our Brains form Decisions.(2018), Retrieved from: https://www.youtube.com/watch?v=2zxOBbAbQkA
Redish, D. (2014). The mind within the brain – how we make decisions. Retrieved from: https://www.youtube.com/watch?v=0Iuc5ufbirM
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Week 4 Resources
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How our brain impacts our decisions.
Week 5 Resources: Can someone be naturally good at decision making?
Watch:
Confer, M. (2019). Before you Decide: 3 Steps to Better Decision Making. Retrieved from: https://www.youtube.com/watch?v=d7Jnmi2BkS8
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Week 5 Resources
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Week 5 Assignment
Week 6 Resources: How to improve decision making skills
Watch:
Griffiths, T. (2018). 3 ways to make better decisions- by thinking like a computer. Retrieved from: https://www.youtube.com/watch?v=1mLQFm3wEfw
How to Improve Decision Making Skills: Decision Making Process. (2019). Retrieved from: https://www.youtube.com/watch?v=2tCYy66CyuQ
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Week 6 Resources
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The explore/exploit trade-off
Week 7 Resources: How to make hard choices?
Watch:
Chang, R. (2014). How to make hard choices. Retrieved from: https://www.youtube.com/watch?v=8GQZuzIdeQQ
How to make hard decisions. (2020). Retrieved from: https://www.youtube.com/watch?v=gF8DmEi31eE
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Week 7 Resources
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How to make hard choices?
Week 8 Resources: Decision making strategies
Watch:
Decision-Making Strategies. (2018). Retrieved from: https://www.youtube.com/watch?v=pPIhAm_WGbQ
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Week 8 Resources
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Decision-Making Strategies
Week 9 Resources: Ethics in decision making
Watch:
Ethical Decision Making. (2020). https://www.youtube.com/watch?v=n0uwTBrgqxI
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Week 9 Resources
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Ethics in decision making
Week 10 Resources: How to be more decisive and to make faster decisions?
Watch:
How to be More Decisive: Decision Making Tips. (2017). Retrieved from: https://www.youtube.com/watch?v=CjBGNz-Z5WA
Ramsey, D. (2018). The elements of good decision making. Retrieved from: https://www.youtube.com/watch?v=UUquj5onSVM
Cardone, G. (2018). How to make decisions fast. Retrieved from: https://www.youtube.com/watch?v=2zgfKa25-Jc
How to make faster decisions: The way we work. (2020). Retrieved from: https://www.youtube.com/watch?v=cTIUiN6inIQ
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Week 10 Resources
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How to be more decisive and faster decisions?
Week 11 Resources: Risk based decisions and how to use risk analysis to make better decisions
Watch:
Risk-Based Decisions: Process Hazard Analysis. (2015). Retrieved from: https://www.youtube.com/watch?v=N3UxVnYcHZQ
What is risk-based decision-making? (2018). Retrieved from: https://www.youtube.com/watch?v=BI-3ApW8njQ
Sidorenko, A. (2019). Using risk analysis to make better strategic decisions. Retrieved from: https://www.youtube.com/watch?v=adPrQvEHhTM
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Week 11 Resources
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Risk based decisions and how to use risk analysis to make better decisions
Week 12 Resources: Tools in risk management and risk informed decision making
Watch:
Using Decision Trees in Risk Analysis. (2016). Retrieved from: https://www.youtube.com/watch?v=-f5I99Q9hwY
Risk and How to use a Risk Matrix. (2018). Retrieved from: https://www.youtube.com/watch?v=-E-jfcoR2W0
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Week 12 Resources
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Final Quiz
Student Ratings & Reviews
5.0
Total 23 Ratings
5
22 Ratings
4
1 Rating
3
0 Rating
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0 Rating
1
0 Rating
This is a very interesting course that had opened my understanding into other area that I had not given serious consideration in my business planning.
Excellent
An awesome and enlightening module. This is so practical in my daily business analysis in my place of work.
Love this course so much. easy to understand. the materials provided are excellent and the lecturer's teaching was very helpful
I have upgraded my understanding on decision making. It is a nice course.
Good course that opened my mind in decision making and help me to make informed decision in life. The course content is well presented and the lecturer has that passion and energy in facilitation. The rating for me on this course is 95% out 100%.Good assessment methods and practical; tasks.
The Business Analytics, Decision Making, and Risk Analysis course is a game-changer for professionals seeking to harness data-driven insights. It empowers learners to make informed decisions by using advanced analytical techniques and assessing potential risks. The real-world applications and hands-on exercises ensure practical proficiency. Whether you're in finance, marketing, or operations, this course equips you with the tools to turn data into a competitive advantage. It's an essential investment for anyone looking to excel in today's data-centric business landscape, delivering valuable skills for effective decision-making and risk management. Thanks to Professor Petrov for the wonderful lectures.
This is an amazing course rich with knowledge and skills.Thank you FLU
Greatest job and innovative tutorial,Business Analytics, Decision Making and Risk Analysis concepts with clarity and depth.
This course is very good, informative, and enjoyable. I have a greater insight into decision-making processes and was able to practice what I learned and improve my decision making abilities. It should be one of the go-to course for anyone interested in becoming a better decision maker, especially those in leadership positions.
The content of this course is superb and the lecturer is fantastic.
Nice course…
Very excellent course with very good content. it truly has impact on me especially on my decision-making and risk analysis.
Words can't quantify how much this course has affected my life in total. It has sharpened my thinking and have set me up for the best in leadership and future roles. I appreciate the effort of the lecturer and thank you FLU
well packaged course
Good course!
More engaging course, very innovation and task demanding.
Very innovative and well detailed lectures.
An empowering course that encouraged critical thinking and self-reflection. The discussions were lively, and the readings were thought-provoking. It challenged me to expand my perspectives and develop my own ideas."
Great video and well explained that makes it easy for students to get points
Material Includes
- 22 Videos
Requirements
- No experience is required. We will start with the very basics of how and why decisions are formed.
- You will need Microsoft word.
Tags
Target Audience
- Professionals
- Anyone who wants to know more about how we form decisions.
- People who want to learn more about how to use risk analysis and other tools to make better informed decisions.
