(ecornell) Developing Robust Models to Evaluate Decisions

In this course, you will explore how to build robust evaluation models in Excel and incorporate the impact of uncertainty. As you work through this course, you will get hands-on practice identifying situations where using fixed ï¿1⁄2averageï¿1⁄2 input values can lead to poor estimates and decisions. In Excel modeling, when we use a single fixed number in all scenarios to represent an uncertain value to be revealed in the future, the actual outcome of that value could substantially impact the model metrics and resulting decisions. The course is provided by eCornell in partnership with Genashtim

What You'll Learn

Recognize why uncertainty matters and incorporate an uncertain factor into a model

Model and simulate random values from the discrete, binomial, Poisson, and normal distributions

Use simulation to assess system performance and conduct sensitivity analyses to stress-test decisions