We run into decision problems almost everywhere and a proper handling of them is fundamental for a well-functioning society. Decisions that are not thought through and made by a “gut feeling” often lead to unfavourable consequences.
In this programme you will learn how to handle decision situations in a systematic way so that preferred consequences are probable.
After the programme you will be familiar with all the stages in decision making from selecting, gathering and processing background information, structuring of the problem and assessing the consequences to making the actual decision based on rational principles.
Two tracks: data science and decision and risk analysis
In the first year you will learn about both subject areas and in the second year you will specialise in either one.
The data science track covers how to extract knowledge from data by, for example, machine learning, big data analytics, data mining and time series. In terms of the decision making process, this is the beginning where the bases for decisions are found.
The decision and risk analysis track focuses on the later stages such as finding, evaluating and choosing alternatives but also how to deal with uncertain factors such as subjective values and future outcomes. You will also learn to spot the difference between rational and irrational arguments for decisions.
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