Modeling Uncertainty and Risk


Course Overview

Decision making is never as simple as we would like it to be, since rarely does a single factor alone predict an outcome. In a competitive business environment, not taking this uncertainty into account has serious costs. In this course, you’ll use foundations in probability to describe risk mathematically and incorporate those calculations into your decisions so you can take them to the next level. Working through increasingly complex modeling situations, you will learn to use estimates of probable future outcomes for Go/No-Go decisions and to run a Monte Carlo simulation allowing you to examine outcomes that vary based on multiple, interdependent decisions. This course is appropriate for anyone from analyst to SVP-level who is looking for a deeper understanding of how to perform the statistical analyses that support key business decisions. Course content draws on examples across all business types.