Lessons Learned Building Analytical Models

In Lessons Learned Building Analytical Models, you'll learn ...

• Fundamental insights in decision making
• Robust steps to use in building analytical decision-making models
• Seven fundamental principles that can help you develop better analytical models in your organization
• Real-world examples of decision models that have and have not worked for organizations

Overview

Preview a portion of this course before purchasing it.

Credit: 2 PDH

Length: 21 pages

In a fast-paced analytical world with myriads of data and analytical techniques, it is important to remember some fundamentals in developing solutions that can be of real value to your project or organizaton. As analysts, engineers, and technical experts, we tend to get enthralled with the methods themselves and not the generation of solutions that provide value to the organization in the time frame that is required.

This course will teach you insights and methods for implementing analytical decision-making models in an organizational or project environment. Insights were developed through years of consulting and working in a number of environments.

The course provides some overall insights into organizational decision making. Additionally, a number of steps are provided to assist you in thinking through critical aspects of decision making in your environment to build robust models for decision making. Additionally, this course discusses which methods work in the “real world” and which do not.

Lessons learned from “real world” examples resulted in the development of fundamental rules and common-sense principles that ensure that the models and solutions you build will meet the needs of the decision-maker. These principles will help teach you how to avoid mistakes and help develop better usable solutions. This course is applicable to all engineering disciplines and should be of interest to individuals at various stages in their career.

Specific Knowledge or Skill Obtained

This course teaches the following specific knowledge and skills:

• The process to identify issues and develop solutions that can direct the organization or project to achieve its goals
• The importance of defining metrics
• Steps for exploring the scope of a problem and its criticality
• The importance of selecting methods that the decision maker can understand
• The importantance of understanding time constraints and expectations
• Why your model must be adaptable to an ever-changing environment
• The need to have a clear understanding of corporate objectives when developing a model
• Achieving an optimal solution vs the best solution

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 10 questions. PDH credits are not awarded until the course is completed and quiz is passed.