2-Day Program

Decision-Making with Analytics

Creating competitive advantage through analytics

About the program

Queen's Decision Making with Analytics will provide a broad overview of strategic analytics and teach leaders how to leverage data to foster a culture of informed decision making. Participants will learn when and how to use analytical approaches and how to manage the deployment of analytics in new and powerful ways. In particular, we will discuss how strategic analytics is used to transform an organization from a product-centric business model to a customer-centric one.

Overcome uncertainty

Uncertainty and complexity make many decisions difficult, especially those involving new products and ventures. In the era of big data and analytics, many organizations are under increasing pressure to harness the extraordinary volumes of data to improve decision-making. Their challenge is to convert huge quantities of ill-structured data to manageable amounts of organized information or 'models' that can be understood by managers and used to sharpen the decision-making process.

Hone your intuition

Both intuition and analytics need to be combined to produce good decisions, and influence the decisions of others. The objective of the course is to improve the decision-making skills by educating the intuition and acquiring new tools. We will consider different tools and frameworks for structuring and modeling decision problems, and apply these tools to a variety of situations that involve uncertainty and risk.

The proposed methods allow breaking down the decision problems into manageable parts and explicitly considering the possible alternatives, available information, and the relevant preferences of the decision makers.

The tools are at your fingertips

Software as commonplace as modern spreadsheets contain phenomenal power to forever change your approach to hard choices.

You will learn:

  • How to harness the power of Excel and Excel Add-ins (including Solver, YASAI and Precision Tree)
  • How data being used to personalize customer interactions across industries to drive revenue and margin growth
  • How to change management culture to generate a flywheel effect of data and analytics

Who should attend

Managers and executives who are involved in their organizations' strategic planning process.

You might also be interested in: Strategy, Strategic Decision Making

Personal benefits

Learn new approaches to analytics

  • Increase your department's effectiveness and performance by using information you have available to you in new ways
  • Build frameworks to measure and learn from your business - so you continue doing what works and stop doing what doesn't
  • Network with a group of experienced managers from both the private and public sectors

Organizational benefits

Foster a culture of consistency and informed decision-making through the application of analytics

  • Equip managers and leaders with tools and information to strategically apply the data at their disposal
  • Increase effectiveness and reduce risk through improved management decision-making
  • Benefit from optimizing revenue management, dynamic pricing, and business modelling

Program content

The main ingredient required for a business of any size to improve profitability with analytical decision-making is a willingness to learn new techniques and try new things. Inexpensive tools on desktop computers, including things as commonplace as Microsoft Excel, have made sophisticated analytics possible for anyone.

Learn how organizations are using data to make better decisions in a free white paper. Download a PDF

The Program includes these four themes:

Recognizing Opportunities

  • Understanding when and how to use analytical approaches
  • Knowing what tools and skills your organization needs
  • Explore best practices with analytics in service businesses, manufacturing, financial services, and the public sector

Getting the Right Data and Getting the Data Right

  • Working with information systems
  • Surveys, sampling and data-mining
  • Correcting data "censorship"
  • Choosing levels of aggregation and assessing likelihoods

Tools and Techniques

  • Get value from the data you collect
  • Structuring decision processes in uncertain times
  • Extracting critical information from complex data sources
  • Visualizing relationships among key decision factors

Making it Happen

  • Put an analytical approach into action while avoiding "analysis paralysis"
  • Systems and technology recommendations and requirements
  • When to use specialists or consultants, and when to do it yourself
  • Resources and support as your projects unfold

Session leaders include senior professors from Smith School of Business and knowledgeable experts from industry. These outstanding teachers are constantly in touch with today's business world through real-world business experience, Board memberships and their own consulting practices.

Yuri Levin is the Stephen J.R. Smith Chair of Analytics at Smith School of Business. He is the Executive Director of Analytics and AI and the founding Director of the Scotiabank Centre for Customer Analytic. Previously, he was the founding Director of Queen’s Master of Management Analytics program.

In 2016, he was named by Poets and Quants as one of the Top 40 Professors Under 40 Worldwide. He teaches analytical decision making, strategic analytics, and pricing analytics courses in MBA, MMA, and Executive Education programmes. He holds a Ph.D. in Operations Research from Rutgers University in the US where he taught in different MBA programmes for 3 years before joining Queen's in 2002.

Yuri was the 2013 and 2014 recipient of the MBA Professor of the Year Award and the 2014 and 2015 recipient of the Master of Management Analytics Professor of the Year Award. He has developed innovative approaches and published widely in the general area of revenue management and dynamic pricing. He was a co-winner of 2013 INFORMS Revenue Management and Pricing Practice Prize for pricing and promotions analysis at Molson Coors Brewing Company and a co-winner of 2009 INFORMS COIN-OR Cup for applications of COIN-OR technologies in development of novel techniques for cargo capacity management and dynamic pricing. He was also the 2010 recipient of Queen's School of Business Award for Research Achievement and 2003 New Researcher Achievement Award.

Yuri is an Associate Editor of Operations Research. He served as Chair of INFORMS Revenue Management and Pricing section, Associate Editor of Management Science, and was a Guest Editor of the special issue of European Journal of Operational Research on Revenue Management and Dynamic Pricing. Yuri's research has been funded by the Natural Sciences and Engineering Council of Canada. Yuri has consulted widely on consumer behavior modeling and optimization of pricing and developed corporate training programmes in strategic analytics, analytical decision making, and strategic pricing optimization. Clients include: ScotiaBank, TD Bank, Loblaws, LoyaltyOne, Fox News, Rio Tinto, McDonalds, Molson.

Enroll Now
Katie Parks

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Call 1.888.393.2338 or
Monday to Friday. 8:30 am - 4:00 pm EDT

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Upcoming Sessions

    Toronto, Ontario, Canada

    SmithToronto
    200 Front Street West, 30th Floor
  • Oct 21 to Oct 22

Fees

$3,300 CAD (plus applicable taxes)

Notify me of future dates

    Toronto, Ontario, Canada

    SmithToronto
    200 Front Street West, 30th Floor
  • Apr 27 to Apr 28
  • Oct 26 to Oct 27

Fees

$3,300 CAD (plus applicable taxes)

Notify me of future dates