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Management Concepts

Data-Driven Decision Making

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Next dates

May 8—9
2 days
Tysons, Virginia, United States
USD 869
USD 434 per day
Jun 10—11
Online
USD 869
Jul 11—12
2 days
Washington, District of Columbia, United States
USD 869
USD 434 per day
+21 more options

Description

Sound business strategy requires robust data. However, raw data can only go so far without effective interpretation and analysis to inform decision-making. You will apply a data-driven process to decision-making while considering both the larger business context around risk and uncertainty and the organizational factors that influence stakeholder acceptance of data-driven conclusions. Relevant examples will help you learn to arrive at decisions individually, as a team, or as an organization—while maintaining a strategic lens that supports overarching goals.

Learning Objectives

  • Recognize a process to effectively use data to make decisions
  • Create a well defined problem that leads to the analysis plan
  • Integrate the problem, analysis plan, data collected, and analytical tools to make a well-informed decision
  • Justify the decision to stakeholders given the evaluation of alternatives
  • Compare what you have learned in each module to the General Decision Support Model

Course Topics

Overview of Data-Driven Decision Making

  • Using Data to Make Decisions
  • Decision-Making Model

Decision Drivers

  • Defining Data Problems
  • Risk and Uncertainty of Decisions

Analyzing Data for Decisions

  • Creating an Analysis Plan
  • Data Analysis Tools

Determining Alternatives and Presenting the Decision

  • Evaluating Alternatives
  • Communicating Your Decision

Course Capstone

  • Course Capstone

Who should attend

It is critical to integrate data analysis into the decision-making process within an organization. Participants who take this course will be individuals who gather and analyze data, as well as individuals who make decisions based on data gathered by others. This course will develop the skills necessary to incorporate the results of data analysis within the decision-making process.

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