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Luxembourg School of Business

Decision Making Using Data

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About the course

As a manager, you are making dozens of decisions that affect the future of your company and your own career. As a human being, your decisions are often most probably biased. Regardless of the setting, managerial decisions are necessarily made under conditions of uncertainty. In order to make informed decisions under uncertainty, managers must learn to analyze and understand data concerning relevant variables and relationships and to make inferences and predictions on the basis of such data.

Program Objectives

The course will develop tools for interpreting and analyzing data and making data-driven predictions and decisions. In so doing, it will provide an appropriate foundation in statistics for managerial decision making. These skills are an essential part of a modern manager’s decision-making toolkit.

  • Understand data-analysis concepts and learn to interpret and use statistical analyses in decision-making
  • Learn methods for structuring and analyzing complex decisions. Learn how to model risk and uncertainty in the decision-making context
  • Learn how to apply critical thinking in decision-making
  • Develop skills for improving decision-making by avoiding and correcting for cognitive biases
  • Embrace efficient decision-making processes and strategies for reaching optimal decisions in individual and group settings
  • Become an empowered decision-maker and learn how to strengthen decision-making in your organization

Who should attend

This program is appropriate for anyone interested in big data and how it can be used to make complex consequential decisions under risk/uncertainty.

  • C-suite and Senior Management
  • Anyone dealing with important decisions, either in private or public organizations, as well as small enterprises.
  • Managers who will be in leadership positions in the future

Trust the experts

Aleksandar Sasa Pekec

Academic Area: Decision Sciences Teaching / Research Interests Auctions and Market Design; Decision-making in Competitive Environments; Quantitative Methods in Managerial Decision-making (statistics, optimization); Transitional Economies of Central and Eastern Europe Bio Saša Pekeč is an As...

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