Decision making is a vital part of the business world as it happens in every level of any organization. Having confidence in making decisions increases self-worth and leadership.
In this course, participants will be trained on recognizing key elements and components for decision making and how to make timely decision and enhance their accuracy using Data Analytics.
In corporate settings, managerial decision-making cannot rely on intuition alone. As there are often
In today’s world with huge amounts of data sources available, mangers and leaders so not have to use only intuition or experience based decision making. They can use data to uncover valuable insights, quickly make sense out of uncertain business situations, spot trends and take data backed decisions to handle different business challenges.
This program will equip participants with the analytical skill set to use quantitative predictive modeling techniques as well as evaluate the efficacy of these models and use them to help in the decision making.
The program focus will be on how to develop decision making models using different data analytical and statistical models as well as interpreting the qualitative insights and use them appropriately to enhance managerial thinking and decision making.
This program is multi-disciplinary and taught through real life business case studies covering different functionalities like Marketing, HR, Logistics, Finance, Operations, Retail etc hence some knowledge of these business domain will be required.
Learning Outcome
After course completion, participants will be able to:
- Recognize how and where business and data analysis can enhance decision making
- Identify incomplete and imperfect information
- Structure complex Decision problem
- Using decision trees to split complex problems into series of decisions
- Make Decision under uncertainty
- Identify and deploy suitable mathematical modelling techniques for different types of decisions
- Build and evaluate simple statistical forecasting models and evaluate their accuracy
Topics Covered
- Decision making process and models
- Approaches to different types of Decision making models
- Applying a structured approach to decision making by:
- Setting the decision parameters
- How to identify and explore the full range of choices available
- Testing the logic of the decision
- Seeing the decision through
- Choosing the optimal plan of action
- Making Decisions under pressure
- Prudence of complete information in decision making
- Critical Thinking for Decision Making
- Creativity & Innovation in Decision making
- Techniques for Decision making
- Brain Storming
- Ideas Mapping
- Lateral Thinking
- Decision Trees
- Future Planning
Data Analytics Techniques for Decision Making
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Delegation Skills
Delegation is important for efficiency and development. Delegation incorporates empowering teammates through effective leadership, and leads to not only to the team’s efficiency, but also to the contribution of every team member, increasing everyone’s development.
The participants will be trained on recognizing key elements and components for effective delegation and providing them skills for improved decision making and delegation.
Specifically we will look into:
- Why is it easier not to delegate
- When and what to delegate
- SMART delegation
- Delegation Process Flow
- Delegation structure
- Ensuring successful outcomes
- Managing empowerment
Achieving Delegation Excellence
- Coaching individual team members
- Analyzing different working styles
- How to deal with different confidence & ability levels
- How to structure regular feedback & appraisal for delegation
- How to enhance the skills of your team members
- Motivating team members Putting it all into practice – Tips for Effective Delegation
Decision Making and Delegation Skills Training Course Schedule
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