Decision Modelling Analysis

In this era of big data, many businesses and public organizations are investing heavily in data analytics. However, data analytics yield zero value until they are used to improve decisions. To achieve this objective, executives must know how to obtain and transform data insights into optimal, executable actions that are evaluated by their impact on key performance metrics. Decision modelling and analysis provides a quantitative approach to decision making. This approach identifies the key objectives and variables for a decision problem, constructs a mathematical model to represent the logical relations among the objectives and variables, and uses the mathematical model and information gained from data analytics to systematically and critically evaluate decision alternatives.