Information and Decision-Making Models

Prof. Philippe Delquié
Required Core Course
Fall -- 1 credit
 
This course will show you how to build information and decision models to analyze a wide array of management decision and planning problems.  Powerful and easy to use spreadsheet software tools have been developed to assist in this process.  The modeling tools covered in this course include: (1) Optimization models: typically used for deriving maximum value from resources and activities, and exploring complex combinations of possibilities to achieve desired goals; (2) Decision Analysis models: most appropriate for designing strategic action plans in the presence of uncertainties, and valuing real options; (3) Simulation models: useful for valuing and managing complex portfolios of risks; (4) Regression models: to extract valuable information from data and make forecasts.

Each course topic will be accompanied with a set of hands-on practice exercises and case studies illustrating typical business applications of decision models, such as in operations, R&D management, marketing, business policy, and financial planning.  The material is approached from a managerial rather than technical perspective, that is, with a focus on how to apply decision technology and how to interpret the results for guiding management action.  The skills learned in this course are widely applicable in business analysis, and should be helpful in other MBA courses.
 
From this course, you should:
  • become aware of the scope of management problems that can be addressed with models;
  • be able to identify the essential conceptual structure of a decision/planning problem;
  • recognize the types of models and tools most adapted to a given situation;
  • acquire the computer skills necessary to set up and run decision models;
  • know how to assess the significance of model outputs for managerial insights and action;
  • increase your self-confidence with information technology.