The process of decision-making is complex, and managers cannot rely merely on observations and experiences to take decisions. A manager needs to know how to summarize, analyze, and interpret data to facilitate decision-making. With a proliferation of data, the field of decision sciences has become a core functionality that is being extensively used for decision-making. This course is designed to provide a foundation in the use of statistical analysis for managerial decision-making at all levels.
This course is designed to familiarize the student with a variety of descriptive and predictive statistical modelling tools and related software. The emphasis is on understanding the concepts, application using real-world data sets and interpretation of the solution rather than on theoretical details and derivations.