Data Driven Decision Making
Description
Data-driven decision making is defined as using facts, visualisations, metrics and data to guide strategic business decisions that align with your goals, objectives and initiatives. The objective of this module is to examine how different decision theories, decision tools and data analytical and data visualisation approaches can improve the performance of employees & organisations, and to decide the types of business problems that these theories, tools and approaches can best address. Learning materials include online videos, forum based discussions and problem based learning.
Learning Outcomes
Research and synthesise information justifying the use of data driven decision-making in the manufacturing context.
Appraise how digital transformation can impact decision making and analysis
Critically analyse a set of data using data analytics, data visualisation tool and methods.
Formulate recommendations using decision theory.
Critically analyse risk and uncertainty issues in decision-making.
Appraise different methods for managing risk and uncertainty.
Communicate results of research and innovation to peers and engage in critical dialogue.
Revise recommendations based on feedback from peers