IS 622 - Risk and Decision Technology

This course focuses on the decision technology to support management for an organization. Particular attention will be paid to the use of business analytics in situations involving risk and uncertainty. This course provides an overview of decision analysis, optimization modeling, and simulation modeling. The objective is to help a decision maker gain a deeper understanding about the specific problem at hand, including the overall structure of the problem, and to evaluate alternatives in a logical manner. Decision technology provides tools with which a decision maker can construct and analyze a model of a decision situation. The purpose is to be able to represent real-world problems using models to gain qualitative insight through quantitative analysis. It is through that insight that decisions can be improved. A broad spectrum of applications and decision problems will be addressed and the most practical analytics useful in developing strategies and plans will be explored.
Lecture
Credits: 3
Prerequisite: MBA 510