Enroll Course: https://www.coursera.org/learn/simulation-models-for-decision-making
In today’s complex business environment, effective decision-making relies heavily on understanding uncertainty and exploring various outcomes. The Coursera course ‘Simulation Models for Decision Making’ offers a comprehensive introduction to simulation techniques tailored for undergraduate and graduate students interested in applying these skills to real-world business problems. This course stands out for its practical approach, blending theoretical concepts with hands-on Excel-based simulations.
The course begins with foundational probability concepts, ensuring students grasp the essence of uncertainty in business scenarios. As it progresses, learners delve into probability distributions, learning how to model natural events with distributions like Normal and Exponential, and how to handle real-world data that might not fit standard models.
One of the highlights is the module on Monte Carlo simulations, where students build four progressively complex models for a coffee shop case study. This hands-on experience demonstrates the versatility of simulation modeling and helps students understand which model to use for different types of questions.
The course culminates with advanced topics such as counterfactual analysis and discrete event simulations, showcasing powerful yet accessible ways to analyze scenarios that haven’t occurred or dependencies in event sequences through creative Excel techniques.
Overall, I highly recommend ‘Simulation Models for Decision Making’ for students and professionals seeking to enhance their decision-making toolkit. Its practical focus, combined with clear explanations and real-world applications, makes it an invaluable resource for mastering simulation techniques that can significantly improve business strategies and outcomes.
Enroll Course: https://www.coursera.org/learn/simulation-models-for-decision-making