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Decision-Making
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MOOC
Most professions these days require more than general intelligence. They require in addition the ability to collect, analyze and think about data. Personal life is enriched when these same skills are applied to problems in everyday life involving judgment and choice. This course presents basic concepts from statistics, probability, scientific methodology, cognitive psychology and cost-benefit theory and shows how they can be applied to everything from picking one product over another to critiquing media accounts of scientific research. Concepts are defined briefly and breezily and then applied to many examples drawn from business, the media and everyday life.
What kinds of things will you learn? Why it’s usually a mistake to interview people for a job. Why it’s highly unlikely that, if your first meal in a new restaurant is excellent, you will find the next meal to be as good. Why economists regularly walk out of movies and leave restaurant food uneaten. Why getting your picture on the cover of Sports Illustrated usually means your next season is going to be a disappointment. Why you might not have a disease even though you’ve tested positive for it. Why you’re never going to know how coffee affects you unless you conduct an experiment in which you flip a coin to determine whether you will have coffee on a given day. Why it might be a mistake to use an office in a building you own as opposed to having your office in someone else’s building. Why you should never keep a stock that’s going down in hopes that it will go back up and prevent you from losing any of your initial investment. Why it is that a great deal of health information presented in the media is misinformation.
- Keywords:
- Reasoning Problem solving Critical thinking Decision making
- Resource Type:
- MOOC
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MOOC
This data analytics course takes an interdisciplinary approach to demonstrate the data analytics process in the context of accounting and finance. The growing volume of both structured and unstructured data has pushed forward a more data-driven form of decision-making in accounting and finance. In order to keep up with the Big Data era advancements, accountants and finance professionals need to have a data analyst mindset to excel in their jobs. This course will illustrate different concepts of accounting and finance with the application of data analytics. It will not only help the learners to develop their skills to ask the right questions but also teach them how to master the data and use different tools like Excel and Tableau to analyze the data. In the end, the learners will be able to interpret the results and make their decisions effectively.
This course will use a simple framework that helps the learners to develop an analytical mindset. This framework (QDAR) has four major components:
1. Ask the right Q uestions to address an issue in accounting or finance contexts.
2. Understand the different data types and how to retrieve and clean D ata.
3. Conduct different data A nalyses to answer the questions
4. Communicate the R esults to the decision-makers using graphs, visualizations and reports.
The whole course will cover different aspects of the framework in conjunction with different types of analyses. There will be additional datasets for the verified learners through which they can practice what they have learned during the course.
- Subjects:
- Accounting and Finance
- Keywords:
- Accounting -- Data processing Finance -- Data processing
- Resource Type:
- MOOC