Data, Models and Decisions: Confronting the Uncertainty

The course content focuses onthe use of data analysis and management tools to support administrative decision-making. It covers topics: 

a. Discrete probability distributions. 

b. Continuous probability distributions. 

c. Decision making in a discrete space (through result matrices, utility functions, decision trees). 

d. Decision making in a continuous space (impact diagrams, stochastic simulation, risk measures, risk offset). 

e. Decision making under strong uncertainty - Robust decisions. 

f. Development and use of linear models. 

g. Statistical tests. 

Exercises are drawn from the market, the economy, and management. Real-world examples of applying the above methods to operational management issues are given. 

You can find the course page here. 

Professors:

G. Matsopoulos, Professor NTUA